Germany's EEX starts UK carbon trading

OSLO, May 26 (Reuters) - Germany-based ​European ⁠Energy Exchange (EEX) on Tuesday ​launched trading of UK Emission Allowances (UKA) in a move ​it ‌says will complement its existing British power ⁠and gas trading offer ⁠and allow market participants ​to comply with British climate law.

* The EEX, which is part of Deutsche ​Boerse, ‌in cooperation wit IncubEx, offers secondary trading of futures and options contracts, with the first tradeable maturity of December 2026.

* ​The first trade for a Dec ‌2026 cleared via the EEX was concluded between Centrica and CFP ‌Energy and brokered by Tradition Energy and Commodities.

* Britain quit Europe's emission trading system (ETS) ​at the end of 2020 as part of its ‌exit from the EU and launched its own carbon market in 2021.

* Both ⁠the ⁠EU and UK ETS charge ‌power plants and other industrial entities for each ton ​of ​carbon dioxide they emit ‌as part of wider efforts to cut emissions and reach climate targets. (Reporting by Nora Buli; editing by Nina Chestney)