Carbon price hits high on Brexit delay

The European Union carbon price hit a ten-year this week with news that Prime Minister May has secured a delay in Brexit until 31 October, keeping the UK within the system for another 6 months.

The EU Emissions Trading Scheme (ETS) might have faced a flood of permits in the event of the UK departure and withdrawal from the ETS, creating a sell off permits. The news (and expectation of the news) of the extension has sent the price soaring however. The UK said it could create a domestic carbon tax in its place.

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