UK carbon permit prices could fall by almost 50% thanks to the UK government’s “lack of political ambition” to reform the country’s emissions trading system, analysts at Citigroup Inc. have warned. According to Citi, the credits could fall to £22 ($28) a metric ton, the auction reserve price for Britain’s carbon market. The cost of the credits has already plunged 42% in the current year to £40.50, almost half the level of similar contracts in the European Union market. The cost of UK pollution rights…
