A European Commission plan to boost the carbon market is unfeasible and could bankrupt Polish companies, Poland's environment minister said on Thursday.
European Climate Commissioner Connie Hedegaard announced a review of the auctioning profile for the EU's Emissions Trading Scheme (ETS), which could limit the number of allowances available and help tackle a glut that has kicked the market to record lows.
EU ministers said there was widespread support for action, but Poland, which is heavily reliant on carbon-intensive coal is worried about the rising cost of offsetting emissions.
Asked what impact the Commission's proposal would have on Poland, the nation's Environment Minister Marcin Korolec told Reuters: "Bankruptcy of companies."
He said the EU executive should not be considering taking "administrative decisions" that would increase power prices in times of economic austerity.
"I don't think we have a mandate to artificially increase the price of electricity in times of crisis, in times of austerity measures, higher unemployment, etcetera," Korolec said.
"We simply do not have a mandate for manipulation in the market mechanisms," he said. "I think you can ask some countries which are in extremely difficult economic situations what their position on that is.
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Hopefully the Polish minister´s realistic and sound views will inspire other EU governments to start questioning the liturgy of the Brussels global warming high priests.
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