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The reform of the EU Emissions Trading Scheme and business confidence that there will continue to be a meaningful carbon price are key to future investment decisions. The current proposals for reforming the EU ETS go some way towards providing a longer-term carbon price signal and increased certainty for investors. They point to increasing scarcity in the carbon market (due to reduced supply) as the EU moves towards its 2020 emissions reduction target. This should support the carbon price, thus encouraging research, development and investment into innovative low-carbon energy technologies to take an increasingly large place in the UK’s overall energy supply mix.
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