Trading Emissions Plc is seeking to renegotiate unprofitable carbon contracts and there are “encouraging” initial signs that Chinese sellers are taking a “pragmatic approach to the problem.” The company has an unhedged exposure of 11 million metric tons of Certified Emission Reduction credits, Trading Emissions said today in a statement distributed by the Regulatory News Service. They would be worth 39.7 million euros ($53.1 million) at yesterday’s closing price of December credits of 3.61 euros a ton on the ICE Futures Europe exchange in London.
Friday, March 30, 2012
Trading Emissions Renegotiating Unprofitable Carbon Deals
Trading Emissions Plc is seeking to renegotiate unprofitable carbon contracts and there are “encouraging” initial signs that Chinese sellers are taking a “pragmatic approach to the problem.” The company has an unhedged exposure of 11 million metric tons of Certified Emission Reduction credits, Trading Emissions said today in a statement distributed by the Regulatory News Service. They would be worth 39.7 million euros ($53.1 million) at yesterday’s closing price of December credits of 3.61 euros a ton on the ICE Futures Europe exchange in London.
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