EU parliament rejects plan to save carbon trading-BBC

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4/16/13, "EU parliament rejects plan to save carbon trading," BBC, McGrath

"The European Parliament has rejected a plan to rescue the EU's ailing carbon trading scheme.

Members narrowly voted against a so-called "backloading" proposal that would have cut the huge surplus of allowances currently being traded.

Because of this excess, the price of carbon on the EU Emissions Trading Scheme (ETS) has plunged to less than 5 euros a tonne.

But opponents won the day by arguing the plan would push up energy costs.

The price of carbon once stood at 32 euros per tonne."


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