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Today, the European Energy Exchange (EEX) held the first of two auctions of Phase 2 EU Allowances scheduled for December on behalf of the Hungarian Ministry of National Development.
The volume of 1.25 million EUAs was auctioned off as planned on the EEX Spot Market with an auction clearing price of EUR 6.63 per EUA. The total amount of bids was 7,018,000 EUAs. Thus, participants demanded 5.6 times the auction volume. A number of 14 companies took part in the auction.
At the time of the auction, the price in secondary trading on the EEX Spot Market amounted to EUR 6.62 per EUA.
The total volume to be auctioned off on behalf of Hungary amounts to 2.5 million Phase 2 EUAs. The second auction will take place on next Monday, 17 December 2012.
