Today saw the UK government hold Europe’s first carbon allowance auction in Phase two of the EU Emissions Trading Scheme (EU ETS).
Four million allowances were sold at 13.60 each, totalling £54 million before VAT. The system in place caps the level of carbon emissions allowed each year from heavily polluting manufacturing and energy sites. Firms must buy more credits if they break the limit but can sell off any they do not use. Energy and Climate…
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