Record EU Carbon Prices Could Rally Further

EU climate rules and the use of more coal to replace natural gas at sky-high prices in power generation have resulted in a massive rally in the EU carbon price, which just hit an all-time high, and could rally even higher, according to analysts. The European Union (EU) has had the so-called EU Emissions Trading System (EU ETS) in place since 2005, the world’s first major carbon market and the biggest one today. Under the carbon price trading system, big polluters such as industries, airlines, and power firms pay for each ton of carbon dioxide…