SSE, Drax and Orsted are lobbying the UK Treasury to maintain a strong and stable carbon price in the country’s upcoming budget.
The companies have written to Chancellor Philip Hammond to urge him to resist a reduction the Carbon Price Support rates in a bid to deliver the ambition set out in the government’s Clean Growth Strategy.
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The UK’s carbon price has been fundamental to delivering a 75% reduction in coal use since 2013, they added.
At the Budget last year, the government stated that the price was set at the right level and committed to targeting a similar level until unabated coal comes off Britain’s power system.