British Steel May Face $130 Million Hit From Brexit Carbon Hitch

The costs relate to the private equity-owned steelmaker’s carbon pollution bill for 2018, which is due by March 15, according to the people, who declined to be identified discussing a commercially sensitive matter. British Steel is the most prominent name on an official analysis detailing U.K. companies affected by a European Union decision to freeze the allocation of free carbon permits that can be used to comply with the rules. The steelmaker’s financial headache highlights the difficulties that Brexit uncertainty is causing British industry.