Joz Cozijnsen of Climex has a nice summary post of the impact of the UK legal win against the EC on the extent of shortage of allocations:
Assuming the Commission accept the new NAP, the UK’s allocation will increase with 20Mton. This will mean that the overall EU shortage will decrease with 10% from 180 [...]

As reported in a BBC article, current levels of both Carbon Dioxide and Methane are the highest they’ve been in 650 millenia.
The European Project for Ice Coring in Antarctica (Epica) drilled 3¼km into an Antarctic region called Dome Concordia, retrieving samples which contain trapped air from the time the ice formed.
“One of the most important [...]

The UK Government has announced interim decisions regarding the scope and operation of Phase II of the European Emissions Trading Scheme (ETS). Details are available from the DEFRA website (see news announcement of 2005/11/24).
To quote from the summary of the document:
“The Environment Agency will be contacting installations in England and Wales shortly to collect [...]

The UK Government has won a court case agains the EC which should allow the UK to increase the emissions cap for UK businesses. According to the Financial Times report:
“The UK’s revised plan would see a further 20m allowances [to UK emitters], worth more than €400m at yesterday’s carbon price of more than €20 [...]

A further report in the FT about the rise in British wholesale gas prices:
“The price of gas for delivery in January traded as high as £1.20 a therm, according to Platts, the energy news agency. Spot prices traded as high as £1.70 a therm, up from about 31p at the start of the month.
Because gas [...]