EU carbon prices hit 17-mth high

European carbon prices rallied into a second month yesterday, surging to a new 17-month high on the back of higher German power prices, a bailout package for debt-stricken Greece and a leaked EU document, traders said. EU Allowances futures for delivery in December climbed as high as 16.56 euros a tonne, up 62 cents or 3.9 per cent.