Poland's biggest utility PGE has held talks with policymakers from other EU nations to try to limit the cost of carbon market reforms that it said would hamper its efforts to shift away from coal to cleaner fuel.
A cooling tower from the Turow coal-fired power plant is seen near the Turow open-pit coal mine operated by the company PGE in Bogatynia, Poland, June 15, 2021. Picture taken June 15, 2021. REUTERS/David W Cernyhas held talks with policymakers from other EU nations to try to limit the cost of carbon market reforms that it said would hamper its efforts to shift away from coal to cleaner fuel.
The cost of covering those emissions has risen as carbon prices hit record levels early this year of nearly 100 euros per tonne , adding to concerns about high energy costs that are likely to complicate EU negotiations on further carbon market reforms.PGE's Chief Executive Officer Wojciech Dabrowski told a news conference he was aware suspending the ETS was "politically impossible".
Already, there is a mechanism that allows the release of extra permits if the CO2 price is more than three times the average price in the two preceding years for at least six months, and if policymakers conclude this does not reflect market fundamentals.
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