Responding to a statement from Corus, Mr Swales said:
"I have never wished to imply that Corus were motivated to profit from unused carbon allowances. But the situation remains very unclear.Full statement issued by Bob Jones (Group Head Media Relations) on behalf of Corus:
"It is vital that the Government and Corus come forward now with a clear statement about what is going to happen to the 7 million tonnes of annual CO2 allowances.
"Clarity on this issue goes hand in hand with supporting the efforts of local Corus managers to save the TCP plant in Redcar."
"The Teesside Cast Products plant is to be partially mothballed, which is not the same thing as permanent closure. The question of what is to happen to TCP's 2010 allowances under the EU Emissions Trading Scheme is therefore undecided. But any allegation that Corus has been motivated by the desire to profit from the mothballing via the ETS is totally without foundation and insults the efforts of all those who have spent the past eight months desperately searching for a long-term viable future for the plant."