Abolish carbon floor price, says EEF

The chief executive of the Engineering Employers Federation (EEF) Terry Scuoler, a UK manufacturer's organisation, said UK companies are concerned about the Government's proposals for a carbon price floor, while speaking to a national newspaper of Sunday 11 September. The plans to cut emissions involve ensuring carbon prices remain above a certain level, in order to provide certainty for carbon prices. The EEF calculates the cost to the British industry due to the floor price will be £250mn when it begins in 2013 at a rate of £16/t of carbon. This will then rise each year to reach £30/t by 2020, costing the industry £1.2bn. Scuoler called for the abolition of the carbon floor price and said that the Government's plans to provide compensation to energy-intensive industries affected by the measure was not enough.
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