Publication
Mission impossible? Teresa Ribera’s mission letter and the future of EU merger review
Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
United Kingdom | Publication | November 2023
Minor amendments to the legislation governing the UK ETS have been laid in Parliament and are intended to come into force on 1 January 2024. The amendments follow on from the Government’s response to the March 2022 consultation on reforming the UK ETS scheme (see our previous article: The UK Emissions Trading Scheme (UK ETS): Consultation Response).
The UK ETS was established in January 2021, to replace the UK’s participation in the EU Emissions Trading System (EU ETS) after the Brexit transition period. Like the EU ETS, the UK ETS is designed to tackle greenhouse gas emissions through a cap-and-trade scheme.
The amending legislation is focused on supporting the ongoing transformation of energy systems and transition to a low carbon economy, and will have the following effects:
The amending legislation closes loopholes and replaces outdated law to incentivise good industry practice, and these small changes are considered necessary to ensure that the UK ETS can be efficiently utilised to reduce emissions and support the UK’s progress towards net zero. NRF will continue to track developments in this field and provide further updates on amendments to the UK and EU ETS, so that we can continue to support clients across all key environmental and carbon markets.
With thanks to Rebecca Bell for her contributions.
Publication
Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
Publication
On 10 October 2024, the UK government published its long awaited response (the Response) to its January 2024 consultation on “Designing a policy framework to enable investment in long duration electricity storage” (the Consultation).
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