UK sparks controversy with Nap revision

Increase in emission trading allowances draws widespread criticism, brings down prices

The UK government sent waves through the EU's carbon emission trading community on Wednesday by announcing a significant upward revision in the number of allowances it intends to distribute for the first trading period 2005-7.

The move sent the price of allowances in the forward market down. It also drew warnings from officials in the European Commission that Britain's national allocation plan (Nap) for 2005-7 will now have to be reassessed, contradicting assurances by UK officials that this should not be necessary.

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