A planned UK auction of carbon dioxide allowances under the EU Emissions Trading System had to be canceled Wednesday because of insufficient bidding interest.
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The planned auction of 4.5935 million EU Allowances was cancelled "as a result of the total volume of bids falling short of the volume of allowances being auctioned," auction host, the ICE Futures Europe exchange said in a statement.
"The cancellation of today's auction is in accordance with the requirements of the EU Auctioning Regulation and the allowances will be distributed over subsequent auctions as required by the Auctioning Regulation," the exchange said.
The volume of allowances from Wednesday's canceled auction will be carried over onto the next four UK carbon auctions, to be held on May 30, June 13, June 27 and July 11, according to data listed on the exchange's carbon auctioning webpage.
EUA futures contracts for delivery in December 2018 on ICE opened at Eur14.30/mt ($16.90/mt) Wednesday, and had moved in an intra-day range of Eur14.14-Eur14.47/mt as of 0937 GMT Wednesday.
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