the largest differences in the composition of fuels are seen in the paper pulp and print and the nonferrous metals mostly aluminium in the nordic region industries in the former of the energy is from biofuels in the nordic countries compared to only in the eu in the latter almost all of the energy use is from electricity in the nordic countries whereas industries in the eu also use a significant share of fossil fuels as mentioned in chapter a higher carbon price will increase the opportunity cost of using biofuels which will increase the price of biofuels all else equal