The British government confirmed today that only 7% of the European Union Allowances (EUAs) will be auctioned. A that the government may auction around 10% of the allowances, which is the maximum allowed by EU regulations. The analysis was based on reports that the additional auction might be used instead of a windfall tax to cut some profits from energy firms and use them on the fuel-poor people.

However, the confirmed 7% allowances would be auctioned, amounting to about 85 million allowances during phase II (2008-2012). The exact number of allowances available in each auction would be officially announced by the Treasury at least one month prior to the auction date. although the date of the first auction has not been set yet.

Complete details of the emissions scheme can be viewed and eligibility criteria for participation in the auction can be read .

Tags: Action, Carbon Permits, Energy Firms, EU, EUA, EUAs, European Union, European Union Allowances, Phase II, UK

Energy firms in the UK are going to enjoy some huge profits directly proportional to the increase in the carbon prices, reveal recent figures by . And whats more that the consumers would probably be the ones who would end up paying higher bills to support the cost of carbon permits acquired by these energy companies.

Ofgem reports that the energy industry would earn

Tags: Carbon Permits, Carbon Prices, Energy Firms, Ofgem, UK

It seems that opposition against coal power plants is gaining momentum. We reported earlier that the UK government is under pressure to take strict action against coal-fired plants and now it looks like US coal plants are having a tough time as well.

NRG Texas LLC, a subsidiary of had come under fire for wanting to add a third plant to its Limestone Station near Houston. Initially, the Texas Clean Air Cities Coalition and the were planning to thwart its expansion plans. But now wherein the power generator will go ahead with the third unit and

Among other measures, NRG will offset or sequester fifty per cent of the additional unit’s carbon emissions; invest in solar energy project or energy-efficiency projects in Texas and reduce water usage at the new unit by sixty per cent.

Jim Marston of Environmental Defense Fund applauded NRG’s efforts, he said :

“Offsets, such as the projects that NRG has committed to invest in, are a low-cost way to get the large reductions in greenhouse gases that are necessary to prevent catastrophic impacts of global warming..”

Tags: Carbon Cuts, Carbon Offsets, Carbon Sequestration, CO2 Cuts, Coal Power Plants, Emissions Reductions, Energy Efficiency, Energy Firms, Energy Sector, NRG Energy Inc., NRG Texas LLC, Solar Energy, UK

Amid high fuel prices, the British Prime Minister

Tags: Carbon Permits, Energy Firms, Energy Sector, Energywatch, Gordon Brown, UK