Governments across the continent are trying to reduce emissions, and electricity prices will undoubtedly rise as a result. This is because the cost of producing clean energy is much higher than the cost of producing energy through carbon-emitting processes.
This means that consumers will be asked to foot the bill for cleaner energy.
Trading for 2008 permits ended last week at €22.78 per tonne - after reaching a high of €26 on May 30th. Analysts quoted by the Bloomberg news agency say that prices could reach €30 by May 2009.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.