Germany may spend 113 billion euros on carbon auctions
A European Union proposal to auction all carbon dioxide perm its rather than hand some out for free would cost Germany 113 billion euros($175.6 billion) in the eight years through 2020, according to industry group VIK. Both industrial and household consumers would bear the cost as energy providers raise tariffs to counter higher permit prices, VIK spokesman Roland Schmied said. Business clients would shoulder87 billion euros of the burden, while households would contribute 26.3 billion euros, he said.