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Carbon price floor 'could harm consumers' - 27/01/2012

Green taxes implemented by the government to help cut the country's emissions could result in consumers seeing higher electricity prices.

This is according to a new report from the House of Commons' Energy and Climate Change Committee, which warned adopting a unilateral Carbon Floor Price that is not agreed with other EU nations could have a "devastating effect" on industry, as well as leading to higher domestic energy bills.

Chairman of the committee Tim Yeo stated this move would drive electricity production and industry overseas as it becomes more expensive to operate in the UK.

He added: "Unless the price of carbon is increased at an EU-wide level, taking action on our own will have no overall effect on emissions other than to outsource them."

Recently, the British Property Federation warned the Green Deal scheme alone will not be enough to help improve the efficiency of the UK's buildings to meet carbon reduction targets.

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