The price of EU carbon-dioxide allowances (EUAs) under the EU Emissions Trading System sank to a three-month low in November, coming under pressure from the sale of surplus permits by the European Investment Bank (EIB) that started mid-month. The price of EUAs for delivery in December rose to an intra-month high of €4.80 per metric ton ($6.49) on Nov. 7, a day before a meeting of EU diplomats where carbon market intervention was on the agenda. But prices fell back to €4.49 on Nov. 8 after diplomats on the EU Council's permanent representatives committee approved the European Parliament's version of a European Commission plan to delay or "backload" 900 million EUAs from auctions in the next few vears.
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