ADVERTISEMENT

Hungary sells €8.9 mln worth of CO2 allowances at auction

In Hungary

Out of the 1.2 million EU Allowances (EUAs) offered for sale, the Vertis group sold 1.197 million CO2 allowances on behalf of the Hungarian Ministry of Finance.

The uniform selling price based on the accepted offers was €7.42 per EUA. The successful sale means revenues of €8.9 million (Ft 2.3 billion) for Hungary. Prices during morning trading were between €6.60 and €6.80 on European spot exchanges.
The Hungarian state has allocated 31.7 million emission allowances annually in the first phase (2005-2007) of the EU Emissions Trading Scheme (EU ETS) to Hungarian installations. According to the Hungarian National Allocation Plan, 2.5% of the total amount, 2.4 million EUAs, may be issued for payment. The state has sold part of this volume during today’s auction.
The minimum bid quantity for the electronic auction was 1,000 emission allowances on the euets.com CO2 trading platform operated by Vertis Environmental Finance Zrt.
Bids for 3.42 million allowances were received, of which the Ministry of Finance accepted 1.197 million in order to maximize revenues from the sale. All successful bids have been cleared and will be settled on Wednesday, December 13.
Due to the success of this round, the planned second auction on December 18, 2006 will not take place.
More information about the auction will be published on www.euets.com.

 

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.