Energy UK responds to Policy Exchange's report on carbon tax
Commenting on the publication of Policy Exchange's report on the proposed carbon tax, Lawrence Slade, Chief Executive of Energy UK said:
“We welcome the publication of the report by Policy Exchange which is an important contribution to the discussion about the future of carbon pricing.
“We have consistently stated that our preference is for the UK to continue participating in the EU Emissions Trading Scheme (EU ETS) post-Brexit, whilst retaining influence over its future development. Our members are clear that the long-established and proven EU ETS remains the best way to drive investment in carbon reductions across the traded sectors - enabling the continued delivery of affordable, reliable and sustainable electricity across Europe.
“Should this not prove possible, we would support a standalone economy-wide UK Emissions Trading Scheme, with immediate links to the EU ETS on exit from the EU. Introducing a new, economy-wide carbon tax could face considerable political and practical challenges. Such a potentially uncertain and lengthy process makes it unlikely that the new tax could be introduced in time.”