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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