Green Europe Imperiled by Carbon [Swindle] Collapse - Bloomberg

“The thing that will most kill renewable development is low carbon prices,” said James Cox, an analyst at energy consultant Poyry in Oxford. “If the Eurozone crisis continues that will lead to an extremely low carbon price and it makes it difficult to invest in low-carbon generation.”

Carbon permits for delivery in December fell to 9.82 euros a metric ton last week, the lowest since February 2009 and a 46 percent drop from May’s year-to-date high. That compares with the 16 pounds (18.50 euros) price floor the U.K. has suggested is necessary to ensure investment in low-carbon generation.