Financial Times FT.com

Permit glut undermines EU carbon scheme

By Fiona Harvey in London and Raphael Minder in Brussels

Published: May 15 2006 21:09 | Last updated: May 15 2006 23:51

Carbon dioxide prices rose unexpectedly on Monday after the European Union revealed that a serious oversupply of permits to pollute had undermined its fledgling scheme to combat climate change.

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