This has profound implications for equilibrium gas prices, including the idea that gas should sell for some fixed proportion to oil based on the Btu value of the two fuels.
The permits allow the companies that own them to produce greenhouse gas, and by issuing a fixed number of permits, the EU hopes to cap overall emissions.
These hedges effectively convert these variable rate bank loans into fixed rate loans, better matching the interest expense from the loans to the income from the landfill gas projects they finance.
Money Programme research shows more than a million people think they've been tricked into new contracts for gas and electricity supplies and nearly half a million people have been tricked into new contracts for fixed line telecoms.
We also point out that apparel is one of the last consumer categories to raise prices, and by the fall, consumers on a fixed budget may have already re-allocated their dollars to cover inflation in categories such as food and gas.