EnergyWatch

Carbon hits new records after watchdog finds no market abuse

The cost of polluting for manufacturers and utilities in the European Union surged this week and has now more than tripled over the past three years.

Photo: Mark Schiefelbein/Ritzau Scanpix

The cost of pollution in the European Union rose to new highs after a report by the bloc's market watchdog dismissed concerns by some governments over abuse and the role of speculative investors in emissions trading.

Benchmark carbon permits rose as much as 1 percent to a record EUR 69.77 a ton on ICE Endex on Friday, extending this week's gains to 10 percent. The cost of polluting for manufacturers and utilities has more than tripled over the past three years.

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