ApocaDocs: Carbon price falls to new low

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Posted Sun Feb 8 2009: from Guardian (UK):


	Carbon price falls to new low http://apocadocs.com/s.pl?1234107695 The price of carbon has hit new lows as power generators and industrial companies continue to cash in credits under the emissions trading scheme (ETS) to bolster their balance sheets.... Analysts at Barclays Capital warned the price could fall further to €9 while Utilyx, the carbon information provider, said: "There seems to be no bottom to carbon prices at the moment." Market experts blame the decline on profit taking and a collapse in manufacturing, which has reached its lowest levels since 1981 in Britain. Power generators and industrial firms are selling their credits to raise cash during the credit crunch but also because they are confident they will not need as many pollution permits at a time of falling demand for their products.

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'Doc Jim says:

A "new low," indeed, as firms take write-downs on their futures.