Energy White Paper
On 14 December 2020, BEIS published its long-awaited Energy White Paper, setting out plans to achieve a net zero future.
What does this mean to the end user?
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The plan will drive the UK’s move away from fossil fuels, by providing further details on government’s ten point plan for a green economic recovery, which included:
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Funding for 250,000 new green jobs
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Support for hydrogen and carbon capture usage and storage (CCUS)
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Targets to install more heat pumps and offshore wind
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The white paper provides further detail on the rationale for each of the action points and more information on how government will achieve the goals
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It also confirmed that a UK Emissions Trading Scheme (UK ETS) is to replace the EU ETS in January 2021 (rather than a carbon tax)
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End users that participate in the EU ETS must still meet that scheme’s compliance requirements for 2020 and should look out further updates on how the UK ETS will operate