Citi: UK Carbon Price Set To Halve ...Middle East

OILPRICE - Economy
Citi: UK Carbon Price Set To Halve
source : OILPRICE ( Middle East ) () 19
UK carbon permit prices could fall by almost 50% thanks to the UK government’s “lack of political ambition” to reform the country’s emissions trading system, analysts at Citigroup Inc. have warned. According to Citi, the credits could fall to £22 ($28) a metric ton, the auction reserve price for Britain’s carbon market. The cost of the credits has already plunged 42% in the current year to £40.50, almost half the level of similar contracts in the European Union market.  The cost of UK pollution rights…

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