Emissions trading

Outline

This subtopic includes the following overarching Practice Notes:

  1. Emissions trading outline—sets out an outline of emissions trading regulation, including the Kyoto Protocol, the Paris Agreement and carbon markets, the EU Emissions Trading System (EU ETS) and the UK Emissions Trading Scheme (UK ETS). It covers requirements for greenhouse gas (GHG) permits under the EU ETS and UK ETS and emissions trading and aviation

  2. Emissions controls and carbon pricing in respect of carbon emissions from UK fossil fuel powered electricity generation—provides a consolidated summary of the key emissions controls that apply to fossil fuel powered electricity generation in the UK. It includes coverage of the Emissions Performance Standard, the closure of existing unabated coal generation, environmental permitting requirements under the Industrial Emissions Directive 2010/75/EU and Environmental Permitting (England and Wales) Regulations 2016, and carbon pricing by virtue of the application of the EU ETS, the UK ETS, the Climate Change Levy’s carbon price support (CPS) mechanism (sometimes referred to as the carbon price floor (CPF)) and the European Commission’s carbon border adjustment mechanism (EU CBAM)

  3. Emissions trading considerations in aviation finance transactions—explains the legislative

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Latest Energy News

Energy weekly highlights—10 April 2025

This week's edition of Energy weekly highlights includes: a News Analysis on the Court of Session's ruling on the development of the Rosebank and Jackdaw oil and gas fields, declaring the consents granted for development as unlawful. We also cover several announcements from Ofgem, including: (1) the opening of the first application window for Long Duration Electricity Storage (LDES) projects under the cap and floor subsidy regime; (2) finalising the Electricity (Early-Model Competitive Tenders for Onshore Transmission Licences) Regulations 2025, which establish a legislative framework for competitive tendering in onshore electricity transmission projects and the granting of Competitively Appointed Transmission Owner (CATO) licences; and (3) the launch of a second consultation on energy code governance reform, seeking feedback on its implementation proposals pursuant to the Energy Act 2023 (EnA 2023). In addition this week, the Department for Energy Security and Net Zero (DESNZ) announced that 27 electrolytic (green) hydrogen production projects across England, Scotland, and Wales have been shortlisted for the next stage of the Second Hydrogen Allocation Round (HAR2), which involves further due diligence and cost assessment exercises before the successful projects are selected. Finally, the National Energy System Operator (NESO) has outlined the Centralised Strategic Network Plan (CSNP) to co-ordinate long-term transmission network planning in Great Britain, focusing initially on electricity and later including gas and hydrogen.

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