Vitol Buys Greenhouse Gas Permits For EUR1.63M

05.16.2011 By Andrei Circhelan

Romanian thermal power producer Termica Suceava sold green certificates last week to commodities trader Vitol for a total EUR1.63 million.

The transaction was concluded on May 13, on the Romanian Commodities Exchange.

Termica Suceava sold 100,000 certificates for EUR1.63 per unit, nine cents less than the international price on trade day.

This year, the commodities exchange has hosted green certificate transactions equivalent to 4.7% of the annual ceiling allotted to Romania for the 2008-2012 interval, namely 75.9 million tons per year.

One certificate allows the emission of one ton of carbon dioxide.