Monday, June 4, 2007

EU Orders Finland to Cut New Carbon Permit Grant, Sending Prices Higher

(Bloomberg) -- European Union regulators ordered
Finland to reduce new air-pollution permits for energy and
manufacturing companies by 5.1 percent in a fresh crackdown to
ensure businesses pay for some emissions.

The European Commission cut Finland's carbon-dioxide
allowances for power plants and factories to 37.6 million metric
tons a year from 2008 through 2012. Finland had proposed
granting companies such as utility Fortum Oyj and papermaker
Stora Enso Oyj permits to emit 39.6 million tons a year.


Read more at Bloomberg Energy News

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