Energy crunch drives carbon to record as Europe burns more coal
Europe is growing increasingly reliant on coal to keep the lights on as the weather turns cold, sending the cost of polluting to a record high.
By William Mathis and Verity Ratcliffe, Bloomberg
Carbon prices exceeded 70 euros for the first time ever as utilities turn to the dirtiest of fossil fuels. Power plants in the UK are burning the most coal since the beginning of the month to keep the lights on as the cooler-than-normal weather and sub-zero temperatures are forecast for major cities this week.
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