Monday, January 28, 2008

Fortis raises CO2 forecast, prices surge

From Reuters:
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
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
to rise to 48 euros ($70.33) a tonne