Bloomberg News

U.K. Emitters Seek to Opt Out of EU Carbon Market to Cut Costs

August 08, 2012

Some U.K. emitters are seeking to opt out of the European Union’s carbon market to cut administrative costs.

The 244 installations include two EON AG combined heat and power plants and Barclays Plc’s 5 North Colonnade building in Canary Wharf, London, according to a list published on the website of the Department of Energy and Climate Change.

The facilities seeking to opt out had emissions of about 2 million metric tons a year, less than 1 percent of Britain’s emissions covered by the bloc’s carbon program, the department known as DECC said today in an e-mailed response to questions.

Administrative costs for small emitters are estimated at more than 1 pound ($1.56) a ton, compared with 4 pence a ton for large emitters, according to the e-mail. Total savings for industry in the eight years through 2020 will be about 80 million pounds, the department said on its website.

EU carbon allowances for December decreased 1.4 percent to 7.22 euros ($8.91) a ton on the ICE Futures Europe exchange in London as of 2:50 p.m.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


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