The EU has an emissions trading regime (must find out about this sometime), and apparently prices are up… EU CO2 Emission Prices Hit New Record High says Planetark. Higher gas/oil prices makes burning coal more economical, which is more CO2 intensive, so quota prices rise. And its been dry so hydropower is down. Time for the Severn barrage!
Still, I wonder what fraction of the price 30E/tonne is.