Carbon Floor Price Mechanism

Part of Energy and Climate Change – in the House of Commons at 10:30 am on 7th July 2011.

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Photo of Gregory Barker Gregory Barker The Minister of State, Department of Energy and Climate Change 10:30 am, 7th July 2011

An assessment of the impacts of the carbon price floor on energy intensive industries is given in HMRC’s tax information and impact note, published alongside the Budget. Electricity bills for an average energy-intensive business are estimated to increase by 2% and 6% in 2013 and 2016 respectively as a result of the carbon price floor. However, in the late 2020s electricity bills will be between 2% and 5% lower than would otherwise have been the case.