The drop was mainly driven by the power sector, where emissions fell by almost 15%, primarily due to coal-fired power production being replaced by electricity from renewables and gas

Policymakers say the plan will be even more ambitious than previous versions and will ensure the UK is aligned with its commitment to reach net zero by 2050

The deadline extension from the 15th of March to the 26th of March will give emitters more time to buy and surrender required carbon units

Claire Perry said this would come into effect after the end of the EU’s current ETS trading phase at the end of 2020, assuming a deal was reached

Lawrnce Slade said the carbon price support and the EU Emissions Trading System have ‘really helped’ drive investment in low carbon technologies

Both nations are worried a ‘no deal’ Brexit could devolve powers to England

The government will compensate large energy users for higher electricity prices resulting from indirect emissions costs

The government is still working through the details of how this would work during the transition period

The European Council has formally approved the reform of the emissions trading system (ETS) for the period after 2020. The ETS sets a cap on how much CO2 power stations and the heavy industry can emit, with the total volume of allowed emissions distributed to companies as permits. Under the revised ETS directive, the cap […]

European lawmakers voted in favour of a deal to reform the region’s carbon market after 2020. The draft law, already informally agreed with EU ministers, would accelerate the yearly reduction in the quota of the Emissions Trading System (ETS) allowances to be auctioned. It would also allow the Market Stability Reserve capacity to be doubled […]