EU’s New Carbon Market Is Set to Slash CO2 With Soaring Prices for Home Heating
- Expanded emissions market will also cover road transportation
- EU faces challenge to cut CO2 faster while tackling high bills
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A new European Union carbon market for transportation and gas-fired heating is set to send household costs soaring by the end of the decade, according to researcher BloombergNEF.
The price of carbon dioxide under the new emissions trading system, set to open in two years’ time, may reach €149 a metric ton in 2029, BNEF’s analysis found. That’s more than double the current EU price for emissions from power plants and industry.