Carbon floor tax could impact electricity prices

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Electrical discharge

As a result of the government's introduction of a carbon floor price, many businesses could see a dramatic increase in electricity prices according to a leading energy comparison site.

Not only will it have consequences for the UK but areas outside of Britain could be affected after the decision to implement a £16 a tonne tax on carbon comes into play in 2013.

Alessandro Vitelli told an online agency: "There may be some unintended side effects of this that go beyond our borders," he told the website.

"If UK power prices go up because of the additional cost of carbon involved it might provide an incentive to power generators in other countries who can be connected in the UK to start showing here."

Advice is now that businesses should check electricity prices before signing up to any long-term deal to try to get the best savings for the future.

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