London, 26 January 2011

ICE bourse will not restart spot trade until February as the EU extended its suspension.The EU commission’s suspension on carbon transfers at national emissions registries had been due to be at least partially lifted on Wednesday at 1800 GMT.

But the absence of a formal announcement by the bloc’s executive at the time of writing meant the EU’s spot CO2 market would remain shut until Thursday afternoon at the earliest.

“No registries will be switched on until 24 hours after an announcement is made. If no announcement has been made, then (the suspension will remain) for at least another 24 hours,” a commission spokeswoman told Point Carbon News.

Meanwhile, ICE Futures Europe, which handles around 90 per cent of carbon trade in the EU emissions trading scheme, said Wednesday that its EUA and CER daily futures contracts will remain suspended until 1 February at the earliest.

The exchange suspended spot trade last Thursday following news that several registries holding carbon allowances had been attacked by cybercriminals, prompting the European commission to halt all transfers.

Other carbon bourses also said they don't expect to resume spot trading this week.

"No decision has been made yet, but (reopening exchanges) should be a joint effort and the ICE (date) should be a guideline," a spokesman at Dutch bourse Climex told Reuters.

The European commission said it would reopen the market incrementally, only allowing secure registries to transfer allowances.

The UK’s registry on Wednesday said it was working with contractors in order to provide the commission with evidence that it had implemented the minimum level of security required, as agreed by the commission and member states on Monday.

“At this stage, timescales still need to be clarified, but the Environment Agency is working to ensure the UK registry is reopened as soon as possible," it said in an email.

Ends --

By Andrew Allan - This e-mail address is being protected from spambots. You need JavaScript enabled to view it and Michael Szabo - This e-mail address is being protected from spambots. You need JavaScript enabled to view it