UK and European flags in front of the European Commission. (EC)
The price of EU carbon allowances (EUAs) has plunged by more than 10% in the past week as the risk of a ‘no-deal’ Brexit appears to have increased.
The UK government this week clarified that, under a no-deal Brexit, the country will be excluded from the EU Emissions Trading System (ETS) – a market-based cap-and-trade system covering 11,000 installations operated by EU power and energy-intensive industries.
Meanwhile, the UK Department of Business, Energy and Industrial Strategy (BEIS) issued two technical notes on 12 October explaining the implications...
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