EUROPE FACES Euro500 MILLION POWER CHARGE

New legislation from Brussels has prompted fears of a huge hike in energy costs for the region's mills. If you're an avid trader of energy futures on the European markets, then you know that prices took a sharp blip upwards after the European Commission passed new environmental regulations...

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Bibliographic Details
Published in:Tappi journal 2004-07, Vol.87 (7), p.36-38
Main Author: Kenny, Jim
Format: Article
Language:English
Online Access:Get full text
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Summary:New legislation from Brussels has prompted fears of a huge hike in energy costs for the region's mills. If you're an avid trader of energy futures on the European markets, then you know that prices took a sharp blip upwards after the European Commission passed new environmental regulations last year. The EU Emissions Trading Scheme (ETS), which was accepted by the Council of Ministers and the European Parliament in July 2003, is essentially a tool for European regulators to offer a financial incentive for Euro zone consumers to reduce their CO2 emissions (so-called greenhouse gases) and thereby help the community to meet its environmental obligations under the Kyoto protocol (the international agreement to reduce greenhouse gases).
ISSN:0734-1415