Powernext to launch spot contract for CERs

The launch is expected in the fourth quarter of 2007, pending the successful implementation of the UN's Independent Transaction Log (ITL), which will create a registry of issued CERs.

CERs are issued by the UN Executive Board to projects that reduce emissions. They can then be sold to buyers looking to meet compliance targets for emissions reduction. Once the ITL is launched, CERs will be fully fungible within the European Union emissions trading scheme (EU ETS).

The structure and

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