U.K.’s ‘Fraught’ CO2 Tax on Power Companies Doubles for 2014
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The U.K. plans to almost double its carbon surcharge, a measure aimed at spurring investment in nuclear and renewables generation, in its second year.
The so-called carbon price support was set at 9.55 pounds ($15.13) a metric ton for 2014, according to a budget document posted today on the U.K. Treasury’s website. That compares with 4.94 pounds from April 2013, when the policy takes effect.