LONDON, Sept 25 (Reuters) – Barclays has settled a
lawsuit with London trading firm CF Partners after a judge found
that the British bank had misused confidential information
during its acquisition of a Swedish carbon trading company.
The ruling comes the same week Barclays was hit with a
combined $77 million in fines from British and U.S. regulators
as the lender continues to be dogged by problems from its past.
LONDON, Sept 23 (Reuters) – Four British men have been
sentenced to a total of 19 years in jail for their part in the
theft of 7 million euros ($9 million) in EU carbon credits,
which led to the temporary suspension of trade in the European
Ruman Patel, Hanif Patel, Ayyub Ibrahim and Mohammed Hanif
Patel, arrested between June 2012 and April 2014, were part of
an international syndicate that masterminded the theft of
500,000 EU Allowances from the Czech emissions registry in
January 2011, Britain’s National Crime Agency said on Tuesday.
LONDON (Reuters) – Big emitting industries and poorer eastern member states in the European Union could get tens of billions of euros in additional funds next decade to help them meet the bloc’s 2030 energy and climate goals, a draft EU document showed.
According to undated draft conclusions leaked from the European Council and seen by Reuters, EU leaders are examining measures aimed at appeasing reluctant states such as coal-dependent Poland and other poorer eastern European nations.
LONDON, July 9 (Reuters) – Three major international
commodity traders bought a total 510,000 African carbon offsets
from clean energy project developer ecosur afrique in the first
half of 2014, showing some demand still exists for credits from
the battered U.N. market.
The credits – known as Certified Emissions Reductions (CERs)
are to be delivered to the buyers Vitol, Bunge
and Shell Trading before the end of 2015, ecosur CEO
Fabrice Le Sache told Reuters on Wednesday.
LONDON (Reuters) – A British hacker, speaking out for the first time since he was jailed for attempting to steal 8 million euros ($11 million) (6.45 million pounds) in carbon credits, said he was easily able to break into online government and corporate registries.
Matthew Beddoes, known online as the Black Dragon, was arrested in November 2011 with two other men for hacking into carbon trading registries including those of Spain and the United Nations, along with the websites of a London-based commodity broker and an online carbon trading marketplace.
LONDON, June 12 (Reuters) – The Dutch national court has
asked the European Court of Justice (ECJ) to rule on the legal
challenges filed by heavy industry over how many free emissions
permits they are due to receive through to 2020 under the EU’s
The Dutch Council of State on Wednesday requested the ECJ,
Europe’s highest court, make a preliminary ruling on whether the
European Commission had correctly calculated a reduction in the
number of permits – subsidies worth billions of euros – that
would be earmarked for industrial firms.
June 11 (Reuters) – British day-ahead wholesale gas prices
rose 2.9 percent on Wednesday on undersupply forecasts, a drop
in LNG availability from import terminals, and the risk that
EU-brokered talks between Ukraine and Russia over a pricing
dispute will drag on.
The prompt contract gained 1.1 pence to a four-day high of
38.65 pence/therm, climbing back from a near four-year low of
36.25 pence hit on Monday due to low demand and healthy supply.
LONDON, June 10 (Reuters) – Britain’s big energy suppliers
are coming under mounting pressure from consumer groups and
politicians to cut household power and gas bills after a sharp
drop in wholesale costs boosted the firms’ profit margins.
The country’s “big six” energy providers, which supply 96
percent of UK households, are being urged to tame rising energy
costs, and at least one lawmaker in Prime Minister David
Cameron’s Conservative Party has called on the government to act
swiftly to break up the energy companies.
May 21 (Reuters) – A British plan to compensate certain
energy-intensive industries for higher energy costs resulting
from its carbon price floor is in line with EU state aid rules,
the European Commission said on Wednesday.
Britain’s carbon price floor, which was raised in April to
9.55 pounds ($16.09) per tonne of carbon dioxide, is effectively
a tax on companies’ consumption of power produced from fossil
fuels and is aimed at reducing greenhouse gas emissions.
LONDON, May 20 (Reuters) – Swiss investment bank UBS
slashed its year-end EU carbon price forecast by 23
percent due to the weaker-than-expected market impact of the
bloc’s plan to cut the supply of carbon permits.
Analysts at the bank now predict front-year EU Allowance
(EUA) prices will end the year at around 10 euros per
tonne, down from a previous forecast of 13 euros.