(Bloomberg) -- The European Commission, the regulator of the world's biggest emissions trading program, forced Italy to reduce the number of carbon dioxide permits it grants in the five years through 2012 by 6.3 percent.
Italy can grant 195.8 million metric tons of permits in each year during the period, compared with 209 million requested by the nation's government, according to an official EU Web site. It's lower than 201 million tons forecast by analysts, according to the median estimate of five in a Bloomberg survey.
Read more at Bloomberg Energy News
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