On Friday, an information regarding EU CO2 balances leaked from the European Commission ahead of the official report scheduled for today (May 15). Overall most countries reported emissions below their allocated quota and the total EU surplus of CO2 permits was 4%, however latest figures shows only 2% surplus. The biggest polluter, Germany recorded a surplus of CO2 permits in the amount of 26.3m tones, which is 5.3% more than needed. However Italy’s balance was short with deficit of 5.66m tonnes or 2.6% and UK had deficit of 31.3m tonnes of CO2 permits, or 15.2%. The price of CO2 emissions plunged to EUR 9.3/tonne, which is down 67% in the last two weeks. The price of 2007F electricity contract in Germany fell to EUR48.8/MWh (-2.1% d/d) and is down 20% in the last two weeks too.