Emission permits drop as UK September gas falls to record low


The price of European Union carbon dioxide permits fell to its lowest in almost two weeks as UK September natural gas dropped to a record, making it more likely power companies and factories will burn more gas and less coal. December 2006 allowances dropped as much as 25 cents, or 1.6%, to € 15.80 ($20) a metric ton. They were at € 15.85 on the European Climate Exchange in Amsterdam at about 6 p.m. local time. Coal produces about double the carbon dioxide for each unit of power produced, compared with gas. British gas for September fell as much as 1.4% to 32.50 pence a therm, a record low for the contract on the ICE Futures exchange in London. It was as high as 50 pence in April. Yesterday's low is the equivalent of $4.19 per million British thermal units. There's 100,000 British thermal units in a therm. Starting last year, about 12,000 factories and power plants in the EU must have a permit for each metric ton of carbon dioxide they emit. They may sell spare allowances for profit, if they emit less of the greenhouse gas than they have permits for. They must buy extra permits if they emit more. (Bloomberg)


Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


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.