France going for renewables and carbon pricing, moving away from nuclear power
France Passes New Energy Law Quadruples Carbon Price, Bloombergby Tara Patel , 23 July 15, French lawmakers adopted a long-delayed energy law that will reduce the country’s reliance on nuclear reactors and raise carbon prices almost fourfold.
Lawmakers late Wednesday passed legislation that included a last-minute amendment initially rejected by the government to increase the target price of carbon to 56 euros ($61.48) a ton in 2020 and 100 euros a ton in 2030, according to the National Assemblywebsite. The rate, now 14.50 euros a ton, climbs to 22 euros a ton in 2016 and is integrated in a levy on fossil fuels.
The rise provides “visibility” to the business community on how carbon prices will evolve, Environment Minister Segolene Royal said. Higher taxes on fossil fuels will be offset by lower levies on other products, she also said.
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