Author (Person) | Cornago, Elisabetta |
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Publisher | Centre for European Reform (CER) |
Series Title | CER Insight |
Publication Date | March 2022 |
Content Type | Research Paper |
Summary: Putin’s invasion of Ukraine massively raised the price of natural gas which increased over five-fold in 2020/21, and that of oil up 50 per cent from the previous year. The European Commission and national leaders called for an acceleration of the EU’s planned shift from fossil fuels to renewables: this would cut both emissions and the Kremlin’s revenues from energy exports to the EU. However, there were disagreements on the policies needed to do this: MEPs on the right and left called for the European Commission’s plans to expand carbon pricing to be shelved, and some were also hesitant or openly against the plans. The author argues that EU member-states should not stop the expansion of emissions trading to keep a lid on energy prices. Instead, they should increase income support for poorer households and incentives for green investment. |
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Source Link |
https://www.cer.eu/insights/high-energy-prices-threaten-eu-ets
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Subject Categories | Energy, Environment |
Subject Tags | Decarbonisation |
Keywords | Emissions Trading System | EU ETS Scheme |
Countries / Regions | Europe |
International Organisations | European Union [EU] |