German CO2 Cuts Dampen Carbon Permit Demand
Germany's new, lower targets for CO2 emissions will further curb demand for carbon permits and undermine Europe's already dysfunctional emission trading system, the EU's new energy commissioner told a German newspaper. "The agreed additional emission reductions in the power plant sector are also causing a further decline in demand for certificates," Miguel Canete, EU Commissioner for Climate Action and Energy, told the Frankfurter Allgemeine Zeitung. "This has an impact on the Emissions Trading System (ETS) which we will closely examine as part of the ETS review," he added. Germany's cabinet agreed plans on Wednesday to reduce CO2 emissions by up to 78 million tonnes by 2020 to help Europe's biggest economy meet ambitious targets to fight climate change.
Ukraine To Pay Gas Arrears If It Gets Contract First
Ukraine is prepared to pay arrears to Russia for gas once it has a contract with Moscow and will take the country to court if it refuses to sign, Ukrainian Prime Minister Arseny Yatseniuk was quoted as saying by a German newspaper on Saturday. Ukraine told Russia on Friday a $786 million partial payment on a bill that Russia says could exceed $5 billion by next week was on its way to Moscow. That averted an immediate threat that Russia would stop supplying the former Soviet republic with gas if it fails to make advance payments. In an interview with Germany's Frankfurter Allgemeine Zeitung, Yatseniuk said Ukraine's only demand was to get a "fair contract" and gas should not be used as a "political weapon".
