German Utilities Biggest Polluters In 2009: Report
Date: 11-Jun-10
Country: UK
Author: Michael Szabo
German utilities RWE and E.ON were the top greenhouse gas emitters in Europe last year, a report said on Thursday.
Analysts Carbon Market Data said power plants fully or partly owned by the two companies pumped out a total 235 million tonnes of carbon dioxide, or more than Scandinavia's total carbon emissions last year.
Norway, Denmark, Sweden and Finland's collective emissions in 2009 were around 234 million tonnes, according to Reuters estimates.
RWE, Germany's largest power producer, topped the list, belching out 141 million tonnes of carbon dioxide, 5 million below 2008 levels.
E.ON emitted 94 million tonnes, or 14 million tonnes less than the previous year, while Sweden's Vattenfall ranked third with 91 million tonnes, Carbon Market Data said in its report.
The three companies, regulated under the European Union's Emissions Trading Scheme that forces major polluters to buy carbon credits, also had the largest credit shortages in 2009.
RWE received 89 million free carbon permits, called EU Allowances, last year, meaning it had to buy an additional 52 million credits on the market.
E.ON had to buy 18 million extra and Vattenfall had to purchase another 29 million, Carbon Market Data said.
EUA prices averaged 13.37 euros ($16.09) a tonne last year and now trade around 15.80 euros.
European steel producers had the largest EUA surplus last year, with ArcelorMittal, Corus, owned by India's Tata Steel, and ThyssenKrupp leading the way.
Industrial manufacturers under the EU scheme, including steel and cement companies, traditionally get excess permits to help them compete internationally.
These three companies collectively received an extra 67 million EUAs, worth nearly 900 million euros at last year's prices, despite lower production and mothballed plants due to the recession.
Corus' Teesside plant was handed 7 million EUAs this year, even though the company partially closed the facility in February.
Carbon Market Data's figures were calculated at group level, taking into account both minority and majority stakeholdings in other companies included in the EU's Emissions Trading Scheme.
(Editing by William Hardy)
