EU carbon permit backloading to start March 12, Britain first

LONDON Thu Feb 27, 2014 12:42pm EST

LONDON Feb 27 (Reuters) - Britain will be the first to cut the supply of EU carbon permits on March 12 under the bloc's backloading plan, exchanges ICE Futures Europe and EEX said on Thursday.

Britain will cut the volume in its fortnightly auction of permits under the EU Emissions Trading System to 2.515 million units from March 12, down from the 4.63 million sold in each of its first four sales of 2014, ICE said.

A group of around 25 EU member states will continue to hold three auctions per week but from March 17 will cut the amount per sale to 1.928 million units from 4.019 million, EEX said.

Germany will reduce its weekly Friday auction volumes to 2.352 million units from 4.6 million, EEX added, while Poland will stop holding permit auctions after March 5.

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