Tuesday, August 16, 2022
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Forget Paris: France Drops Carbon Tax Plan

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Forget Paris: France Drops Carbon Tax Plan

http://www.thegwpf.com/forget-paris-france-drops-carbon-tax-plan/

The French government is set to drop plans to introduce a carbon tax, French financial daily Les Echos said on Thursday. The newspaper, quoting several sources, said the socialist government will not include the carbon tax in a draft 2016 budget update currently being discussed. Environment Minister Segolene Royal had said in May that France would unilaterally introduce a carbon price floor of about 30 euros ($33) a tonne with a view to kickstart broader European action to cut emissions and drive forward the December 2015 United Nations-led international climate accord. The plan had pushed power prices higher in the spring. Les Echos quoted a source as saying that the measure is too complicated to put in place and might be unconstitutional. The paper said that state-owned electric utility EDF, which produces mostly carbon-free nuclear power, was in favor of the measure, but that gas utility Engie SA had lobbied against the tax because it would make its gas-fired power plants less competitive than similar plants in neighboring countries. A source close to the French government told Reuters that nothing had been decided yet on the carbon tax but confirmed there were doubts about it. Full story see also: Nicholas Sarkozy Turns Climate Sceptics In Battle For Élysée

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