CoolPass Inc. Nuclear halts could see carbon permit prices climb by up to 15% says New Energy.

EU carbon prices could increase by as much as 15% in the next 8 years through 2020 if Germany decides to permanently halt extended use of its nuclear facilities.
March 18, 2011 - PRLog -- If Germany opts to never reopen the seven nuclear reactors suspended after the disaster recently in Japan, and proceeds to close its 10 newer facilities by 2021, the carbon price could average €38.50 ($53.92) per metric ton in the period from 2013 until the end of 2020 CoolPass has learned from New Energy Finance analyst Mathew Cowie. Prior to the earthquake/tsunami disaster in Japan this was forecast at €33.40 ($46.65).

Carbon, natural gas and power have reached their highest prices since 2008 in recent days after Germany announced its intention to close its nuclear program and as the EU worked to finalize rules for phase three of its emissions trading scheme. The European Union’s carbon trading program is the world’s largest by traded volume.

An increase in fuel prices as a result of the disaster has already added €1.30 to the earlier price forecast CoolPass believes Cowie said in a research note. The closures for the next three months alone, for planned safety checks, are likely to add another 10 cents per ton to the carbon price he added.

Cowie went on to say that permanent closure of the seven German reactors and the assumption that half the extensions on the remaining 10 are terminated, would add another €1.90 to the forecast. Terminating all the German extensions pushes the forecast up an additional €1.70, CoolPass was told.

German Chancellor Angela Merkel has told CoolPass that she doesn’t intend to close all of the country’s nuclear reactors as a result of the nuclear crisis in Japan.

In a recent speech to lower-house lawmakers in Berlin, Merkel said her decision to close the nation’s seven oldest nuclear facilities for three months while checks were carried out on the industry was guided by the principal of “safety first.”

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