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Turner now in energy plan

LORDADAIR TURNER, chairman of the Financial Services Authority (FSA), will today unveil a massive shake up in the renewable and nuclear energy industries.<br /><br />In a report from the Government&rsquo;s Committee on Climate Change, which Lord Turner heads, guidelines to force action on climate change targets will be made, including a plan to directly intervene in the energy market.<br /><br />The report is expected to prescribe a &ldquo;floor price&rdquo; for carbon emission permits, making it more expensive to produce CO2 and creating an incentive for the industry to &ldquo;go green&rdquo;.<br /><br />But one industry source said such a move would not be uniformly welcomed by the utilities sector.<br /><br />&ldquo;There are several issues surrounding how to secure a floor price,&rdquo; he said. &ldquo;You could put a very tough cap on emissions to force the price up, but that would have to be done at a European level.&rdquo;<br /><br />Lord Turner, who is set to deliver the report to ministers today, is also expected to advise a greater role for nuclear energy in cutting the UK&rsquo;s emissions. He will suggest a bonus for companies who are already building new plants, such as EDF.<br /><br /><strong>ADAIR TURNER<br />FSA CHAIRMAN,<br />CLIMATE CHANGE COMMITTEE BOSS</strong><br />Is there no end to Lord Turner&rsquo;s industry? Last week he was in Brussels, calling for more supervision on cross-border banks around the European Union. This week, not satisfied with monitoring the financial world, he&rsquo;s cracking down on carbon emissions. His report is sure to be welcomed by activists from Greenpeace, who scaled the parliament building yesterday to draw attention to climate change.<br />