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Britain auctions 2.59 million carbon permits at 48.75 pounds/tonne each

By Reuters

LONDON – Britain auctioned 2,594,000 UK emission permits at 48.75 pounds ($66.79) a tonne each on Wednesday, the ICE website showed.

Out of 17 bidders, nine were successful and the auction had a cover ratio of 3.32, the data showed.

Britain’s Emissions Trading System (ETS) started trading in May to replace the European Union’s ETS after the country left the bloc.

($1 = 0.7299 pounds)