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Europeans face fuel ‘price surge’

Electricity prices could double in Europe if power firms are to meet emissions reduction targets under the Kyoto protocol, says a report.

Carbon prices are set to surge, and firms might pass this rise on to the wholesale market, says a report by consultancy Global Energy Decision.

The report said European nations, such as France and Germany, will find it ever harder to meet emissions targets.
The carbon market is deemed a key tool under Kyoto to reduce emissions.

The report, entitled Countdown to Kyoto 2008-2012: The Carbon Challenge for Europe’s Electric Power Sector, examined Northwest Europe including France, Germany, Benelux, Austria and Switzerland.

The report argues that forward carbon prices will be between 40 and 80 euros per metric ton – more than double current levels.


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