European carbon prices rose more
than 5 percent on Friday after Belgian-Dutch
financial group Fortis (FOR.BR: Quote, Profile, Research)
raised its forecast for European carbon
emissions prices to more than double current levels.
Benchmark EUAs CFI2YZ8 were trading up 1.02 euros
or 5.2 percent at 20.78 a tonne at 1200 GMT.
In a note published Friday, Fortis energy analyst
Kris Voorspools said if there is no international
agreement to succeed the UN's Kyoto Protocol after
2012, he expects phase 2 (2008-2012) prices of
European Union emission permits, called EUAs,
to rise to 48 euros ($70.33) a tonne....MORE