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UK carbon tax increases

21 Mar 2012, 2.50 pm GMT

UK carbon tax increases

London, 21 March (Argus) — The tax on carbon emissions in the UK for 2014 has been set £2.27/t higher than the indicative level announced in last year's financial statement, or budget.

The announcement came in the treasury's budget released today. The tax on carbon for the financial year 2014-15 has been fixed at £9.55/t, up from the indicative level of £7.28/t set in last year's budget.

The tax is designed to top up the price of carbon emissions incrementally to £30/t by 2020. The average EU emissions trading scheme (ETS) certificate price for 2014-15 has fallen by £7.51/t from last year's budget to £7.97/t.

UK carbon tax


UK CO2 Apr 2014-Mar 2015 £/t

Average 1Q 2011

Average 1Q 2012

EU ETS forward average



Carbon levy (*indicative)



Total UK CO2 cost



Argus, Treasury Department

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