Emission auction delayed as firms take stock

The timetable for auctioning emission allocations under the new UK greenhouse gas emission trading scheme has been delayed to give participants more time to prepare. Several big players - including oil and water companies - have already signalled that they may not enter the scheme because of rising emission baselines. Meanwhile, chemical manufacturers Ineos Fluor and DuPont are hoping to bid in existing very large emission reductions - raising worries that "hot air" may undermine the scheme.

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