UK Renewable Energy Producers Could Be Hit by the EU Carbon Border Tax

UK renewable power generators exporting electricity to the EU could be hit with the EU carbon border tax as of 2026 unless the UK and the European Union work a way to change part of the EU mechanism, British industry officials and analysts have told Reuters. The EU’s Carbon Border Adjustment Mechanism (CBAM), commonly known as the “carbon border tax”, was launched on October 1 last year in the first transitional phase for imports of several carbon-intensive groups of products into the European Union. The first phase…