U.K. Needs Meaningful Carbon Price, U.K.’s Huhne Says

The U.K. needs a “meaningful carbon price” to underpin investment in cleaner energy, the Cabinet minister in charge of energy said.

Substantial investment in nuclear power and systems that capture and store carbon-dioxide emissions won’t “happen quickly enough unless we strengthen the incentives,” Chris Huhne, head of the Department of Energy and Climate Change, said in a speech today. “The current price of carbon is simply not doing this. It is not yet driving our economy towards the green technologies of the future anywhere near quickly enough.”