Emissions Trading - Eu Power Intensive Industries Criticise, Propose Remedy

In a press release on 3 March, EU associations representing power intensive industries, together with chemical and pharmaceutical group Solvay, jointly denounced the "indirect and negative effect on their competitiveness resulting from the combination of the existing electricity pricing mechanism and the EU Emissions Trading Scheme (ETS)". To remedy the situation, the industry associations propose a solution which is "fair and equitable to all stakeholders and has, besides, the merit of promoting the objective of reducing global CO2 emissions". The associations say the indirect impact would cost power intensive industries an extra EUR 2BN/year.