Emissions auctions to cost billions
Forcing German industry and energy companies to buy permits for their greenhouse gas emissions from 2013 at auction will drive up energy prices and burden power customers, energy users’ group VIK said on Tuesday.
VIK put the possible cost to German industry of auctioning permits to emit carbon dioxide, the most prevalent greenhouse gas, at well over 100 billion euros ($155.8 billion) in the years between 2012 and 2020.
“There will not be one more tonne of CO2 emissions saved through such an auction,” it said in a statement. “But power prices would be rising further for consumers.”
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