Friday, April 30, 2010

Cash from EU Green Plan to Fund Coal Plants

Cash from EU Green Plan to Fund Coal Plants
Documents leaked to The Independent suggest that European countries will be able to use money from an EU emissions-reduction scheme to build new coal-fired power plants. This bizarre situation arises from concessions made to new and poorer EU states such as Poland when the EU was drawing up its "20-20-20" regime (cut emissions by 20% and secure 20% of energy from renewable sources by 2020.) After 2013, 100% of emissions permits across Europe will be sold, generating enormous revenues (e.g., £40 billion from the UK alone by 2020). According to the leaked papers, some of these funds could be used to provide up to 15% of the costs of "highly-efficient CCS-ready power plants."

http://www.independent.co.uk/environment/green-living/cash-from-eu-green-plan-to-fund-dirty-coal-plants-1955125.html

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