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Energy analysis: The Energy Prices Act (the Act), introduced as a Bill to Parliament on 12 October 2022, was passed into law on 25 October 2022. Originally introduced as part of the former Prime Minister, Liz Truss’s, mini-budget, this emergency legislation includes a series of measures addressing the current energy crisis. This analysis was first … Read more
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 these and consider what next. Our full article is available here. … Read more
The post below was first published on our Energy notes and Infrastructure notes blogs On 18 July 2022 the Government released a consultation on options for all non-retail electricity markets in Great Britain: the wholesale market, balancing mechanism and ancillary services. Everything is on the table from the most radical to the incremental. Investors and market participants should pay … Read more
The post below was first published on our Energy notes and Infrastructure notes blogs On 6 July 2022, a day of significant political uncertainty, the Government published its long-awaited Energy Security Bill. Notwithstanding the current political turmoil, this is expected to survive to become the most wide-ranging legislative reform of the UK’s energy market for … 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
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
The post below was first published on our Energy and Infrastructure Consenting Blog. In a surprise move yesterday which has received relatively little press, Business Secretary, Kwasi Kwarteng, wrote to the British Geological Society giving them 3 months to produce a report setting out whether shale gas can be extracted safely in the UK using … Read more
Wider forces have wreaked havoc in global energy markets in 2021, but UK policy has caused additional complications in the UK. In this podcast, Paul Butcher, Director of Public Policy looks at: Read more
As we set out in our briefing on the global energy crisis here, there has been a crisis around the world with record natural gas, coal and electricity prices. The causes are a combination of post-pandemic recovery, extreme weather events and fractious geopolitics, which have increased demand and compromised supply. We also argued that the … Read more
