EU Backs Carbon Market Changes to Curb Price Spikes
European Union countries agreed to keep more spare CO2 permits in the emissions trading system. The plan aims to avoid carbon price spikes and lower energy bills.
European Union member states agreed on Wednesday afternoon to halt the cancellation of surplus carbon permits within the bloc's emissions trading system to curb price volatility. The policy shift arrives as governments scramble to contain soaring energy costs following disruptions linked to Iran. The ETS contributes an average of 11% to industrial electricity bills across the bloc, though the impact varies widely by member state.
