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German Power Drops to Six-Month Low; EU Carbon Permits Decline After Sale
Date 08/10/2010 13:28  Author webmaster  Hits 1095  Language Global
08 OCT 2010

Mathew Carr | Bloomberg

German power dropped to its lowest price in more than six months as crude oil dropped. European Union carbon-dioxide allowances declined after a sale today of 4.4 million metric tons by the U.K.

German power for next year declined 1.3 percent to 48.70 euros ($67.60) a megawatt-hour, its lowest closing price since April 13, according to broker data compiled by Bloomberg. Benchmark Brent crude oil, which affects the cost of fuel used at power plants, fell 2 percent to $83.40 a barrel.

EU permits for December lost 0.6 percent to close at 15.47 euros a ton on London’s European Climate Exchange.

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