Plummeting prices in the UK's carbon market have increased the likelihood that exports of steel will be slapped with additional CO2 levies to access the European Union market, unless London matches EU carbon policies.
, which from 2026 will impose fees on imports of emissions-heavy goods including steel, aluminium and cement - unless the exporting country has equal CO2 pricing policies.changes
"If the government doesn’t do anything…. 75% of our trade would be at risk of facing a financial trade barrier and administrative trade barrier when exporting to the EU," said Frank Aaskov, energy and climate change policy manager at industry group UK Steel. In 2026, when the EU carbon border levy will kick in, Energy Aspects expects the UK CO2 price to be around 55 pounds , versus an expected EU CO2 price of 108 euros.
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