Big Carbon Price Increase on the Horizon

Reading Time: < 1 minute

Europe’s carbon price is set for a dramatic rise, according to a European Commission draft, while fuel prices for households and industry could also increase. As part of the EU’s European Green Deal, which pushes for cleaner energy and alignment with 2030 climate targets, the price of CO2 could reach as high a price as EUR 85/metric ton, according to the Commission’s analysis.

The price of carbon has been on the rise in the last two years, reaching EUR 55/metric ton, due to a forthcoming reduction of emissions permits in line with a reform of the Emissions Trading System (ETS). That’s coming soon, on 14 July, and some of the revenues from a reformed ETS could be used to compensate those hit hard by adopting green energy.

Some hedge funds, meanwhile, believe Europe’s CO2 price could go as high as EUR 100/metric ton before the end of this year.

Source: EnergyVoice

CET Editor

Recent Posts

Teltonika drops EUR 3.5bn ‘dream’ project in Vilnius

Teltonika has announced it is halting the construction of its EUR 3.5bn High-Tech Hill park…

4 days ago

Hungary’s energy strategy has left it vulnerable to electricity price speculators – report

Hungary’s electricity market has become a focal point for speculative trading, driven by a combination…

4 days ago

CEE secures EUR 1.4bn in AI funding in 2023-24

Central and Eastern Europe (CEE) is a rising force in artificial intelligence (AI) and startups…

4 days ago

EU assesses candidates’ progress in ten country reports

The European Commission (EC) analyses the accession prospects of all ten prospective members of the…

4 days ago

CEE mulls ramifications of Trump’s victory on trade, defence, environment

As Donald Trump officially declared his victory in the US election, he received congratulations from…

2 weeks ago

‘Budapest Declaration’ signed as Orban hosts EU summit

European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…

2 weeks ago