Carbon floor price will not damage business says Treasury

The Treasury says its plans for a carbon price support mechanism will not undermine the EU emissions trading scheme or UK competitiveness, and will pave the way for further low carbon electricity market reform

The TreasuryThe Treasury has defended its plans for a carbon floor price saying it will establish the ‘polluter pays principle’ for greenhouse gas emissions from fossil fuel power generation in a cost-effective way for business. In its post-consultation response, issued on 30 March, it says the tax on fossil fuel in power generation will complement feed-in tariff options in the electricity market reform package.

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