LONDON (Reuters) - Barclays Capital lowered its price forecasts for European Union and U.N.-backed carbon permits to 2020 on Friday, on expectation of over-supply and reduced utility hedging after 2012.
Analysts downgraded their average 2011 forecast for EU Allowances to 15.25 euros from 17.25; 2012 forecast to 17 euros from 24 and 2013 forecast to 23 euros from 30, based on the last price poll conducted by Reuters.
The average price forecast for the period 2013 to 2020 was lowered to 30 euros from 40.
