Billions From Selling Carbon Permits Will Help the U.K. Deal With a Portion of the Energy Crisis and Covid Fraud: Chart (3)

By Mathew Carr

Feb. 4, 2022 — Britain has made about 4.8 billion pounds ($6.5 billion) from selling carbon allowances after Brexit (since May 2021 listed here).

See this chart / list:

ICE

Carbon prices are near record levels.

ICE … pounds / metric ton

That’s handy when supporting families because of the energy crisis — to the tune of 9.1 billion quid:

See this from the UK govt yesterday:

___________

  • Millions of households will receive up to £350 to help with the cost of living following a rise in the energy price cap.
  • All domestic electricity customers will get £200 off their energy bills from October, with 80% of households receiving a £150 Council Tax rebate from April.
  • Chancellor Rishi Sunak announces £9.1 billion Energy Bills Rebate to support families with rising global energy prices.

Recognising that growing cost of living pressures was the “number one issue on people’s minds”, Rishi Sunak said this package would support hard working families.

The Energy Bills Rebate will provide around 28 million households with an upfront discount on their bills worth £200. Energy suppliers will apply the discount to domestic electricity customers from October, with the Government meeting the costs.

The discount will then be automatically recovered from people’s bills in equal £40 instalments over the next five years. This will begin from 2023, when global wholesale gas prices are expected to come down.

_____________

CarrZee question: Why should gas prices stay this high for this long?

_______________

Carbon allowance revenue will also be helpful in helping to repay apparent massive fraud of the British taxpayer, related largely to the pandemic.

–20 billion quid of fraud out of 70 billion quid of covid support? Or perhaps less?

See this from a parliamentary report dated Feb. 2:

https://publications.parliament.uk/pa/cm5802/cmselect/cmtreasy/145/report.html

I’m not endorsing this punchy “anti-Tory” tweet below, but there are plenty out there on this touchy subject:

Feedback: mathew@carrzee.net or comment on social media and tag me

(Headline improved, detail on fraud added)

Photo by Suzy Hazelwood on Pexels.com

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