European Energy EXchange News
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Europe’s failure to rescue the region’s carbon market is likely to encourage utilities to burn record amounts of coal, putting power prices in Germany on course for the worst-ever sequence of quarterly declines.
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Danske Commodities A/S, a closely held Danish energy trader, plans to hire 51 more people this year after boosting profit 77 percent in 2012 as wind and solar power boosted price volatility.
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Mark Owen-Lloyd started at Clean Energy Trading Ltd. in London as a trading director for European power, natural gas, carbon and crude.
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The European Energy Exchange AG, continental Europe’s second-biggest natural-gas bourse, plans to introduce German gas products in October that may reduce network-management costs and prices for end-users of the fuel.
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The biggest-ever overhaul of European energy derivatives rules is poised to pit Nasdaq OMX Group Inc. against the European Energy Exchange AG in Germany as the share of power handled by bourses increases.
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Europe’s carbon prices may sink to a new low as political wrangling over a plan to cut a record glut of permits in the world’s biggest cap-and-trade market risks deterring investors from national auctions.
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The Standard & Poor’s GSCI gauge of 24 commodities advanced 0.3 percent to 650.93 by 5:02 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials rose 0.4 percent to 1,552.824.
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The European Union canceled an auction of carbon emissions permits for the first time as bids failed to reach the bloc’s secret reserve price.
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European Union carbon permits dropped to their second-lowest close ever, after the bloc canceled an auction of permits for the first time as bids failed to reach a secret reserve price.
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Below is a table of European Union carbon permit sales scheduled from today through the end of March.
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