Carbon allowances rose as much as 30 % after deputies in the EU committee voted today in favor of a compromise amendment to an energy efficiency law that calls on the European Commission to change by the end of 2012 its regulation in order to “withhold a significant amount of allowances.” The amendment would have to be backed by majority of deputies in the full parliament as well as member states to become a law. “CO2 allowances are part of electricity price, therefore base load forward contracts on German market (and Czech as well) should rise in-line with CO2 price. CEZ should benefit if CO2 allowances price increase as the company should buy „only“ 30% of total allowances necessity in 2013 (excluding exports) and this portion should gradually increase to 100% in 2020,” analyst Tomas Sykora of Patria Finance says.