Three largest UK power generators urge the country’s Tresury “not to waver on carbon pricing”

29 October 2019: The UK’s three largest power generators: SSE, Drax, and Orsted were joined by a climate change NGO Sandbag in an open letter to the HM Treasury in which they urged the Chancellor Sajid Javid to ensure efforts to reach net zero emissions by 2050 are not undermined by any reduction in the carbon pricing level currently made up of the EU ETS and the Carbon Price Support (CPS). They claim that the current uncertainty over carbon pricing is already impacting forward pricing in electricity markets and any reduction to current carbon pricing levels would send negative signals to low-carbon investors. To read the full letter, follow the link.