UK carbon floor price could weaken British competitiveness

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Courtesy of Vital Efficienci Ltd.

New report claims the UK carbon floor price will cut carbon emissions 5.3% by 2020, but could put the UK at a competitive disadvantage with Europe.

New research released today from Thomson Reuters Point Carbon suggests that the UK’s proposed carbon floor price will cut carbon emissions from the UK energy industry 5.3% by 2020, but could undermine the country’s competitiveness by imposing a £9.3bn burden on British businesses.

The prediction says that the government's plans, confirmed in last month's Budget, will cut carbon emissions by 67million tonnes between 2013 and 2020, a saving equivalent to carbon emissions from six 400MW gas-fired power stations.

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