The Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2024

Amends/Commences: 
•    The Greenhouse Gas Emissions Trading Scheme Order 2020 (SI 2020/1265)
•    The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 (SI 2021/484)

Comes into force: 1st January 2025

Jurisdiction: UK

Summary

The UK Emissions Trading Scheme Order is updated to:
•    reduce the number of allowances that can be created and the number available for free allocation for installations;
•    create a 'flexible reserve' of allowances which can be used to top up free allocation for current installations;
•    cover flights from Northern Ireland to Switzerland;
•    apply The Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2023 (a previous update) to Northern Ireland.

This Order also make changes to civil penalties as well as making small corrections and clarifications.

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