EU Needs to “Reactivate” Carbon Program, Oettinger Says

The European Union needs to “reactivate” its emissions trading system after carbon prices fell to a record low earlier this year, the bloc’s energy chief said.

“With six euros, it’s not really a working instrument,” EU energy commissioner Guenther Oettinger told reporters in Brussels today.

The European Parliament’s industry committee backed last week an option of withholding permits in the ETS in a draft amendment to an energy efficiency law.

The amendment is not “a direct instrument for our energy efficiency directive,” Oettinger said. “It will be a point in our agenda in the summer this year.

To contact the reporter on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net

To contact the editor responsible for this story: Alessandro Vitelli at avitelli1@bloomberg.net

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