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A new study by ILEX / Electrowatt-Ekono has concluded that UK electricity prices should remain among the lowest in Europe during Phase 1 of the EU Emissions Trading Scheme (2005-2007). However, variation in the extent to which the price of carbon is passed through into electricity prices in different countries means that the UK is projected to do less well in the retail electricity price rankings than it has done in previous years.
ILEX / Electrowatt-Ekono were commissioned by the Department of Trade and Industry to examine the impact of the forthcoming EU Emissions Trading Scheme (ETS) on the price of electricity to consumers across Europe, focusing on Great Britain, Ireland, Germany, France, the Netherlands, Finland, Sweden, Denmark, Spain and Italy.
The study considers the potential increase in wholesale and retail electricity prices during Phase 1 of the EU ETS and produces annual price projections for each country firstly without the EU ETS, and secondly showing the effect of a €10/tCO2 price of carbon. The study also examines key factors influencing the extent to which the price of carbon is likely to be passed through into wholesale and retail electricity prices in each country.
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