Europe's carbon emission trading market is working as foreseen and is not suffering from structural problems, according to Sweden's energy agency. The agency assessed the relationship between world oil prices, carbon emission trading and electricity prices to counter public "confusion", according to an official. The scheme has indeed raised electricity prices. But this was expected, and has benefited renewable and nuclear power producers, the report concludes. In any case the scheme is probably achieving emission cuts more cost-effectively than any alternative, commented agency director general Thomas Korsfeldt. See press release.
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