Home Resources Legal Updates January 2021

The Greenhouse Gas Emissions Trading Scheme (Withdrawal Agreement) (EU Exit) Regulations 2020

27 January 2021

Amends/Commences: The Greenhouse Gas Emissions Trading Scheme Regulations 2012
 
Comes into force: 31st December 2020
 
Jurisdiction: UK
 
As part of its exit from the EU, the UK is ceasing participation in the EU Emissions Trading Scheme (EU ETS) at the end of the implementation period. Significant changes are made so that from 1st January 2021 these Regulations will apply in Northern Ireland (NI) only, for electricity generation for the wholesale electricity market in Ireland and NI.
 
UK operators of a greenhouse gas emissions permit will still need to meet their obligations for any emissions during the transition period, i.e. up to 31st December 2020.
 
Following exit from the EU, the UK will likely impose a price on carbon emissions by implementing a UK ETS that is similar to EU ETS, or by implementing a UK carbon emissions tax.
 
For more information click here.