Rio Tinto, Tata, Ineos Seek Relief From U.K. Carbon Floor Rules
Rio Tinto Plc (RIO), Tata Steel Ltd. (TATA) and Ineos Group Holdings Ltd. are among “dozens” of U.K. companies that will seek relief from climate-protection measures including the so-called carbon floor price proposed earlier this year, said an industrial lobby group.
Corporate energy consumers need relief after power and fuel costs have surged, said Jeremy Nicholson, director of the Energy Intensive Users Group, which represents industries that consume large amounts of gas and power.
The U.K. will hopefully announce relief measures later this month, reflecting incentives offered in Germany, Nicholson said today by phone. “The German tax breaks are surprisingly generous,” he said.
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