Germany to Raise Carbon Price to €40 in 2024, €50 in 2025
Motorists wait in traffic at a junction in Berlin, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany will lift a levy on polluting fossil fuels used in housing and transportation to €40 ($44) per ton in 2024 and to €50 in 2025, a political compromise that pushes some of the additional costs of decarbonizing further into the future.
Increasing the carbon price — currently at €30 per ton — will translate to consumers paying roughly 3 cents more per year for each liter of gasoline or diesel, according to people familiar with the plans, who asked not to be identified discussing confidential information.