SocGen cuts EU carbon price forecasts for 2013-2015 by 30 pct

Reuters News
Posted: Jan 25, 2013 4:55 AM

LONDON (Reuters) - Societe Generale cut its forecasts for average European Union carbon prices from 2013 to 2015 on Friday by around 30 percent, given falls to record lows this week, analysts said in a research note.

The bank said it sees 2013 prices for EU Allowances averaging 6.5 euros, down from 9.3 euros forecast in a Reuters poll earlier this month.

Prices in 2014 will average 7.5 euros, down from 10.9 euros and 2015 EUA prices will average 8.5 euros from 11.9 euros.

On Thursday, benchmark 2013 EUA prices briefly touched a new record low of 2.81 euros but were trading at around 4.16 euros on Friday.

(Reporting by Nina Chestney, editing by William Hardy)