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Hungary to auction 1.18 mln emission permits on March 26

Hungary's government will auction on March 26 allowances to emit carbon dioxide, in its first offering of the permits this year, the Finance Ministry said in an e-mailed statement today.

The government will offer all its 1.18 million available allowances and will hold a secondary auction on March 29 if needed, according to the statement. Hungary raised €8.9 million ($11.7 million) in December by selling 1.2 million credits, for an average price of €7.42. (Bloomberg)