The Department for Business, Energy and Industrial Strategy recently published updated guidance on participating in the UK Emissions Trading Scheme (UK ETS), which launched on 1 January 2021. While the UK ETS closely follows the EU Emissions Trading Scheme (EU ETS), for now at least, it is a standalone scheme. The UK ETS commits to a similar approach to the EU ETS; however, the changes made may give rise to challenges for both new and transitioning participants.
The Scottish government recently released its Hydrogen Policy Statement together with the Scottish Hydrogen Assessment. The statement has been long heralded and eagerly awaited by industry. This article discusses key aspects of the statement, including key sectors for deployment, the trade of hydrogen, locations for deployment, the timeline for deployment, funding, key stakeholders and the next steps.
At the end of 2020 the Department for Business, Energy and Industrial Strategy published the much-anticipated Energy White Paper, setting out its strategy for the United Kingdom's energy transition over the next decade. The Energy White Paper focuses on strategy in six key areas: consumers, power, the energy system, buildings, industrial energy and oil and gas.
August 2020 saw the publication of two documents which will have a significant bearing on developments in the oil and gas industry in the next decade and are closely related. The Department for Business, Energy and Industrial Strategy published a response to its consultation on the reuse of oil and gas assets for carbon capture, usage and storage projects, while the Oil and Gas Authority published its final report on UK Continental Shelf energy integration.
A recent government consultation proposes a pivot towards support being made available to a wider set of renewable energy technologies – including established technologies such as onshore wind and solar photovoltaics and less established technologies such as floating offshore wind – together with an ongoing commitment to support conventional 'fixed-bottom' offshore wind. This article summarises the consultation's wider set of proposed changes.
The Department for Business, Energy and Industrial Strategy recently launched a consultation titled "Heat Networks – Building a Market Framework" alongside its report on "International heat networks: market frameworks review". The consultation is seeking views on various proposed policy options for the development of a heat networks regulatory framework. The outcome of the consultation remains an area of great interest for the United Kingdom's future development of low carbon heating.
The Department for Business, Energy and Industrial Strategy (BEIS) recently published its proposals for business models for carbon capture usage and storage (CCUS). The CCUS forms part of BEIS's package of proposed measures to support the decarbonisation of the UK economy, which includes consultations on reusing oil and gas assets in CCUS projects, the regulated asset base model for nuclear and the facilitation of energy efficiency in the electricity system.