The Carbon Capture Revenue Support Regulations 2024

Amends/Commences: New legislation.

Comes into force: 23rd May 2024

Jurisdiction: UK

As part of the Industrial Carbon Capture Business Models, carbon capture entities (organisations who capture carbon dioxide) can receive revenue support through a private law contract with a carbon capture counterparty.

The Secretary of State can designate and direct a carbon capture counterparty to offer support contracts to eligible carbon capture entities.

A carbon capture entity is eligible if:

• Located in the United Kingdom, capturing carbon dioxide that has been produced by commercial or industrial activities; and

• Is not an excluded entity under regulation 4.

A carbon capture counterparty must:

• Publish the carbon capture revenue support contracts, omitting any confidential information; 

• Establish and maintain a register of carbon capture revenue support contracts; and

• Notify the Secretary of State if it is unable to perform a function required of it.

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