European Union carbon emissions were steady on Thursday ahead of a British government auction of 4.9 million emissions permits.
EU Allowances for December delivery CFI2Zc1, the benchmark contract, traded at 12.41 euros ($17.82) a tonne at 0815 GMT, unchanged from the previous close, with 191 lots traded.
EUAs had earlier briefly dipped to a new six-and-a-half month low of 12.25 euros in the first hour of trade.
Traders said a British government auction totalling 4.9 million EUAs this morning could put downward pressure on prices.
"I don't think the auction will send prices plummeting. However, very little volume has gone through so far so it will be one to watch," an emissions trader said.
Bidding opened at 0800 GMT and closes at 1000 GMT. The results of the auction will be available soon afterwards on
Participants sold permits on Wednesday in the hope of buying them back at a less expensive price following the auctions, traders said.
Prices could sink further before emissions data for 2009 is released in April by the European Commission, one trader said.
German Calendar 2011 baseload power on the EEX F1BYc1 was up 27 cents or 0.52 percent at 52.00 euros per megawatt hour.
U.S. oil CLc1 fell below $83 a barrel on Thursday, after a 15-month high a day earlier, as worries about monetary policy tightening in China knocked commodities across the board.
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