FT: UK businesses warn on emissions tax

UK businesses will face sharply higher energy costs than continental peers if the European Parliament refuses to prop up the EU carbon market, industry figures have predicted.

This is because a contentious new UK carbon floor price, taking effect from April 1, is likely to keep British carbon prices much higher than those in the EU market, where they have crashed to record lows. This means UK companies will, in effect, face a higher tax on their greenhouse gas emissions than their EU counterparts.  MORE