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Emissions Trading Windfall For Nuclear Plants

The newspaper Helsingin Sanomat reports that nuclear power companies in Finland are enjoying massive subsidies from emissions trading rights.

It reports that companies producing electricity with coal and other emission-causing fuels pass on the value of emission rights to their electricity prices, even though they receive the bulk of the rights free of charge. The paper calculates that of the 28 euro per tonne value of emissions rights, 22 euros are passed on to the price of each megawatt of electricity.

Also, power utilities that do not cause emissions follow the same pricing practices. According to Helsingin Sanomat, Finland's four nuclear power units bring owners an extra 500 million euros annually from non-existent emissions.

This is one reason, it writes, that investors both in Finland and abroad have been keen on constructing nuclear power plants here.

In total, emission rights charges bring the Finnish electric power industry close to an extra two billion euros a year.

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