Vital phase for emission rights

Negotiations are heating up in Brussels and Strasbourg over the EU’s most important tool for lowering emissions of carbon dioxide, emissions trading. Today the parliament will make a decision on the issue. Around 13,000 industries will be affected and together could be forced to pay billions of euros more per year for their emissions up until 2030.

However there are widely diverging views and Jytte Guteland (S), who sits in the environmental committee, says, “Everyone was nervous about how we would bring about a solution. It was tough but it ended with an agreement.”

On Monday the Swedish government raised its ambitions saying that fewer industries should be able to avoid paying for their emissions and that more emission rights would be annulled. However Centre Party MEP Fredrick Federley has attacked the government for raising its ambitions only six days before a decision is to be made, saying it is almost impossible to change the position of members at such short notice.

Vattenfall’s threat: we will close all reactors

Yesterday’s quarterly report from energy giant Vattenfall presented a rise in operating profits and profits after tax of SKr 6 billion, thereby granting CEO Magnus Hall some breathing space.

However write-downs for German brown coal, if the government approves Vattenfall’s sale, are expected in the next report and the company must make a decision to make new investments into nuclear power or decommission.

“Without investment… we will not be allowed to run the reactors after 2020. We are not going to make investments if the government does not remove the tax on nuclear power completely. That is a definite decision from us,” says Magnus Hall.

Meanwhile DN reports Vattenfall has no plans to scrap emission rights, as MEP Jytte Guteland has demanded. Magnus Hall says the rights are part of the deal with the buyer of the lignite operations in Germany.