Britain auctions 6.05 million carbon permits at 43.99 pounds/tonne

By Reuters

<p><body> <p><span class="caps">LONDON</span> (Reuters) – Britain sold 6.052 mln spot carbon permits at 43.99 pounds a tonne each on Wednesday, exchange <span class="caps">ICE</span>, which hosted the auction said on its website, in the first government sale of permits in Britain’s domestic emissions trading system (<span class="caps">ETS</span>).</p> <p>The <span class="caps">ETS</span>, which charges emitters such as power plants and industrial factories for each tonne of carbon dioxide they emit, is part of Britain’s plan to reach a net zero carbon emissions target by 2050, and replaces Britain’s participation in the EU’s <span class="caps">ETS</span> following Brexit.</p> <p>The auction cleared with a cover ratio of 4.8 times, indicating strong demand for the permits.</p> <p/> <p> (Reporting By Susanna Twidale; editing by David Evans)</p> </body></p>