Increased CO2 reduction target means increased Transition costs for key Member States

“The higher climate ambition of 55% CO2 reduction requires higher capital investments related to power generation as compared to the current 2030 target. This represents a significant challenge to all Member States and in particular for countries with different starting points and lower GDP per capita” according to Poland’s main power provider, PGE S.A.. Some view the current design of EU financing mechanisms as wholly insufficient to bridge the investment gap which, in the case of Poland, some estimates put at approximately EUR 90 bn of additional investment costs and operational expenses related to an increased CO2 price. Does the EU ETS scheme need to be redesigned to ensure fairness in spreading the costs of the Transition among Member States in order to leave no-one behind?