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EUAs

Government plans: carbon price floor or carbon price flaw?

In the recently published White Paper on Electricity Market Reform, UK Energy Secretary Chris Huhne unveiled a package of measures designed to encourage the investment needed to ensure secure, low carbon energy for the UK.

One of the five key policies outlined in the document was the introduction of a carbon price floor from 1st April 2013. 

Government make 1bn euros from auctioning EUAs

To download this report click here.

Between 19 November 2008 and 10 February 2011 the UK Government has auctioned over 77m EU Allowances. The revenue generated from auctioning these allowances is over the €1bn and projections show that this revenue is due to increase significantly, reaching up to €64bn by 2020. At the moment this money goes straight to the Treasury.

Curbing carbon carousel

In July 2009 treasury officials across the EU approved a zero VAT rating on trades of EU allowances (EUAs) as an immediate response to tackling the widespread VAT fraud known as carousel fraud. A pan-European investigation revealed that criminal gangs were using carbon credits to generate estimated gains of €6bn.

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