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On January 26, the European Commission (“EC”) launched a consultation resulting from the ongoing discussions around the reform of the European Union’s (“EU”) electricity market. Cracks in the market design became visible after a drastic reduction in the importation of Russian gas, prompting a re-assessment of the structural shortcomings of the market. This consultation primarily … Read more
The post below was first published on our Policy Matters blog. On her third day as Prime Minister, Liz Truss announced an unprecedented £150 billion support package for households and business alongside emergency electricity market interventions which will feed into a more fundamental ongoing review. The EU also announced radical proposals. We take a look at … Read more
HMRC has published draft legislation for the new Energy Profits Levy, along with a detailed explanatory note (21 June 2022). Consultation on the draft Energy (Oil and Gas) Profits Levy Bill will run until 28 June 2022. Read more
The post below was first published on our Policy matters blog here. Amid soaring prices, political obstacles and pressure for enhanced security, the Government’s new energy playbook needs more than eye-catching targets to tackle the key issues. Read more
In one of our previous articles we provided an update on greenhouse gas (GHG) regulation in Russia covering, among other matters, the draft Russian law on reduction of GHG emissions. With active discussions regarding the EU carbon border adjustment mechanism (CBAM) in the background,[1] the revised draft finally became law on 2 June 2021[2] (the … Read more
On 21 May, Spain’s Official State Journal (Boletín Oficial del Estado, or BOE), published Law 7/2021, of 20 May, on climate change and energy transition (Law 7/2021) after it had been approved by Spanish Congress. Law 7/2021 entered into effect on the following day. We look briefly at the law below, and for more analysis … Read more
Why decarbonisation? Projections from various organisations all show a significant role for gas in the energy mix to meet global energy demand in 2050. Indeed, gas has widely been seen as a “transition fuel”; a bridge between an economy running on coal vs one running on renewables. However, increasingly the lifecycle emissions of gas as … Read more
The European Commission has announced this week a proposed revision of the Trans-European Networks for Energy Regulation (the TEN-E Regulation). The revision aims to bring European energy infrastructure in line with the EU’s new climate targets and the European Green Deal. Changes in technology and ambitions have required new infrastructure categories along with changes to … Read more
Background The primary driver behind the revision of the TEN-E Regulation is to align the regulation with the new European Green Deal. The European Green Deal aims to transform the EU into a fair and prosperous society with a modern, resource-efficient and competitive economy. The TEN-E Regulation is seen as a central instrument for the … Read more
