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The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2023
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- 2023 No. 994
- Regulation 4
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Regulation 12 amended (cost containment mechanism)
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4.—(1) Regulation 12 is amended as follows.
(2) In paragraph (1)(b)—
(a)in paragraph (iv) for “if the industry cap for a scheme year (determined in accordance with Article 16a(6)(a) of the Free Allocation Regulation)” substitute “if, for a scheme year referred to in column 1 of the table in regulation 9(10), the number of allowances set out in the corresponding entry in column 3”;
(b)in paragraph (v) for “40,984,970 allowances (the flexible share)” substitute “28,081,237 allowances”.
(3) After paragraph (1C) insert—
“(1D) For the purposes of paragraph (1)(b)(iv)—
(a)the references in paragraphs (1A) and (1B) to the final annual number of allowances approved under Article 16b of the Free Allocation Regulation(1) must be read as including, in relation to allowances to be allocated for the 2024 and 2025 scheme years, a reference to any increase added to the amount included in column A of the allocation table under article 34B(3A) of the Trading Scheme Order (free allocation for 2024 and 2025 scheme years: lime and malt extract)(2);
(b)the reference in paragraph (1B) to an error in an application for free allocation under the Free Allocation Regulation must be read as including a reference to an error in any information provided under article 20(4) of the Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2023(3);
(c)the reference in paragraph (1B) to the exercise of functions under the Free Allocation Regulation must be read as including a reference to the exercise of functions under article 20 of the Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2023.”.
(1)
EUR 2019/331, amended by S.I. 2020/1557, 2021/1455, 2022/1173 and (with effect from 1st January 2024) S.I. 2023/850. “Free Allocation Regulation” is defined in article 4(1) of S.I. 2020/1265.
(2)
Article 34B(3A) is inserted by S.I. 2023/850 with effect from 1st January 2024.
(3)
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