Autumn Statement to detail future of Carbon Price Floor
Chancellor Phillip Hammond is expected to use his first Autumn Statement today to provide clarity on the trajectory of the Carbon Price Floor beyond the end of the decade. It was frozen by former chancellor George Osborne at £18/ tonne through to 2020. The government could also use the statement to explain its plans for the Levy Control Framework, currently set to 2020-21, into the next decade. Media reports over the past few days have further suggested that initial proposals could be unveiled for additional interventions into the retail energy market: possibly through an extension of the price cap set to be implemented for prepay customers, or the re-introduction of restrictions on the number of tariffs that suppliers can offer.