European utility companies welcome ETS reform

The EU took major steps to reform its Emissions Trading System this week, boosting optimism that the huge surplus of allowances will be substantially reduced The EU took major steps to reform its Emissions Trading System this week, boosting optimism that the huge surplus of allowances will be substantially reduced.
By Andreas Walstad 10 November 2017 0 28342
An E.On gas-fired power plant in Hungary. An E.On gas-fired power plant in Hungary. Carbon prices must rise to boost fuel switching. (E.On)

European utilities have reacted positively to key reforms agreed this week to the EU’s Emissions Trading System (ETS).

Eurelectric – which represents many of Europe’s largest power companies – said the reforms were “an important signal of the EU’s commitment to address the toxic oversupply of allowances”.

“Investors across Europe have received the much needed legal clarity that will enable them to take better informed decisions on low-carbon investments,” said Eurelectric Secretary General Kristian Ruby in a statement. “The deal sends a timely message of EU climate...

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