Emissions Permits Stifle Development: Energy Exec

Law360, New York (February 7, 2008, 12:00 AM EST) -- The European Union's new carbon emissions policy may do more than curb greenhouse gas emissions in Europe. The policy, which requires companies to buy emissions permits, has caused several energy companies to abandon multibillion-euro projects, according to an energy company executive.

Johannes Teyssen, the chief operating officer of German energy giant E.On AG said on Wednesday that many companies have canceled planned investments and that they would continue to do so unless the European Commission rethinks its recently revamped emissions trading system.

Teyssen, who also serves...
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