" Sjardin predicted allowance prices of around €20-25/t in early 2008, but expected prices to fall during Phase II as more CDM and JI project credits came to market and more players were selling. "If you take a long-term view over Phase II, then €25/t isn't sustainable. But it is realistic in the short term given trading behaviour," he said.
Meanwhile, allowances for delivery in Dec '07 have settled in a band around €0.27 to €0.33/t, with traders and brokers reporting no interesting developments. Spot carbon traded at around €0.01 lower than Dec '07."
From Environmental Finance