UK to announce carbon floor price rules in April

The UK Treasury will set a legal framework in April to create a floor price for carbon emissions while announcing a wider plan for encouraging low-carbon investments.
The floor price is a substantial part of the government's electricity market reform (EMR) proposal as it puts a minimum tax on carbon-intensive power generation, which indirectly rewards producers of greener energy.
The government also announced on Tuesday in its Carbon Plan that it would award GBP1bn ($1.6bn) to Britain's first carbon-capture and storage (CCS) project by the end of this year and publish a second-round projects shortlist by May 2012.
CCS project developers in Britain are bidding for a share of a pot worth up to GBP9.5bn to find the most adequate technology for catching and burying climate-warming emissions from gas and coal-fired power plants.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...