As the price of carbon in the European Union’s Emissions Trading System (ETS) hit a new record high on Friday 19 August due to a return to coal to make up for the lack of gas, the European Commission has authorised three national support schemes to provide partial compensation to energy-intensive companies facing higher electricity prices as a result of indirect emissions costs under the ETS.
The measure notified by Germany has a total estimated budget of €27.5 billion. The maximum...