The Global Warming Policy Forum is calling on the Government to delay the 5th Carbon Budget and scrap Britain’s unilateral Carbon Floor Price both of which are contributing to the crisis of UK steel and other energy intensive industries.
Along with substantial falls in steel prices, the UK’s uncompetitive electricity prices have been a contributing factor to the closure of steel plants around the country.
Britain’s Carbon Floor Price is a unilateral carbon tax at a floor price of £18 per tCO2. It is more than four times higher than the EU’s current carbon price which is less than £4 (€4.80 on 30 March 2016).
The GWPF has been consistently warning about the rising policy cost of electricity prices which are expected to increase by 47% by 2020 for large industrial energy consumers. The UK’s extra large users of electricity are already paying nearly twice as much for power as…
View original post 91 more words