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clipped from www.printweek.com

"[The draft legislation] will generate up to £55bn per year in 2020, as the impact assessment shows. This will see the largest amount of money being taken out of the EU economy ever, unprecedented in scale and impact," it said in a statement. 

According to Finland's Pellervo Economic Research Institute, the European Commission's draft CO2 emission quota trading legislation will cause price hikes of between 6% and 12% when it comes into effect in 2013. 

It said the trading scheme would drive energy costs up by as much as 45%.

"The sector can not pass these extra costs on to final consumers, as it does not set world market prices.

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