October 15, 2018 / 2:00 PM / a month ago

Benchmark EU carbon price falls 6 pct on Brexit uncertainty

LONDON, Oct 15 (Reuters) -

* The benchmark European carbon price fell 6 percent on Monday after Britain, late on Friday, published a ‘no deal’ Brexit paper on the EU’s Emission Trading system (ETS).

* The benchmark EU carbon price traded at 19.15 euros/tonne at 13.46 GMT, down 6 percent on Friday’s close and having hit a low of 19.03 euros/tonne.

* “It looks like a late reaction (to the Brexit paper). It’s creating uncertainty and some long (market) participants are jittery,” one carbon trader said.

* Britain’s paper said it would be excluded from the ETS in the event of a no deal Brexit.

* As the second largest emitters of carbon dioxide in Europe, British utilities are among the largest buyers of carbon permits in the ETS.

* Carbon analysts have said Britain’s exit from the scheme would likely have a bearish impact on prices. (Reporting by Susanna Twidale; Editing by Mark Potter)

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