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People & Business :: Energy and Feedstocks

European Commission approves UK plan to compensate energy-intensive users for carbon tax

6:54 AM MDT | May 21, 2014 | Michael Ravenscroft

The European Commission says that UK plans to compensate certain energy-intensive users from higher electricity costs triggered by a mandatory carbon price floor—a tax on carbon-intensive fuels—do not breach of EU state aid rules. The United Kingdom introduced the tax on 1 April 2013, becoming the first country to introduce a carbon price floor. The UK carbon price floor is aimed at reducing the use of electricity produced from fossil fuels and is designed to penalize polluters and encourage investment in low-carbon energy. The compensation is aimed...

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