The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2023

Regulation 9 amended (annual volumes of allowances)

3.—(1) Regulation 9 is amended as follows.

(2) In paragraph (1)—

(a) in the opening words after “+ BF)” insert “+ T”;

(b) for sub-paragraph (a) substitute—

“(a) AC for the calendar year is the base for that year determined in accordance with paragraph (10)(a) multiplied by—

(i) in the case of a calendar year up to and including 2025, the 2021-2025 hospital and small emitter reduction factor calculated in accordance with article 21(2) of the Trading Scheme Order(1);

(ii) in the case of a calendar year from 2026 up to and including 2030, the 2026-2030 hospital and small emitter reduction factor calculated in accordance with article 21(3) of the Trading Scheme Order;”;

(c) in sub-paragraph (b) before ““AFA”” insert “in relation to a calendar year corresponding to a scheme year(2) in the 2021-2025 allocation period,”;

(d) after sub-paragraph (b) insert—

“(ba) in relation to any other calendar year, AFA is zero;”;

(e) for sub-paragraphs (c) to (e) substitute—

“(c) IC for the calendar year is the number of allowances determined in accordance with paragraph (10)(b);

(d) RFS for the calendar year is the number of allowances determined in accordance with paragraph (10)(c);

(e) NER for the calendar year is the number of allowances determined in accordance with paragraph (10)(d);”;

(f) after sub-paragraph (f) insert—

“(g) T for the calendar year is the number of allowances determined in accordance with paragraph (10)(e).”.

(3) In paragraph (9) in the table omit the 5 rows whose first entries are “2026”, “2027”, “2028”, “2029” and “2030”.

(4) For paragraph (10) substitute—

“(10) For the purposes of paragraph (1), for a calendar year referred to in column 1 of the following table—

(a) the base is the number of allowances set out in the corresponding entry in column 2;

(b) IC is the number of allowances set out in the corresponding entry in column 3;

(c) RFS is the number of allowances set out in the corresponding entry in column 4;

(d) NER is the number of allowances set out in the corresponding entry in column 5;

(e) T is the number of allowances set out in the corresponding entry in column 6.

Column 1 Calendar or scheme year	Column 2 Base	Column 3 IC	Column 4 RFS	Column 5 NER	Column 6 T
2021	155,671,581	57,856,572	4,098,497	3,024,907	0
2022	151,437,134	56,273,432	4,098,497	3,024,907	0
2023	147,202,686	54,690,292	4,098,497	3,024,907	0
2024	92,062,882	36,825,153	2,255,107	1,664,388	23,316,495
2025	86,742,014	34,696,806	2,255,107	1,664,387	13,323,712
2026	79,059,690	31,623,876	2,255,107	1,664,387	9,992,784
2027	70,127,996	28,051,198	2,255,107	1,664,387	6,661,856
2028	53,498,502	21,399,401	2,255,106	1,664,387	0
2029	50,918,572	20,367,429	2,255,106	1,664,387	0
2030	49,320,164	19,728,066	2,255,106	1,664,387	0”.

(1)

The Greenhouse Gas Emissions Trading Scheme Order 2020 (S.I. 2020/1265, amended by S.I. 2020/1557, S.I. 2021/1455, 2022/454, 2022/1173, 2022/1336 and (with effect from 1st January 2024) 2023/850). “Trading Scheme Order” is defined in regulation 2(1) of S.I. 2021/484.

(2)

“Scheme year” and “2021-2025 allocation period” are defined in in article 4(1) of S.I. 2020/1265. Regulation 2(3) of S.I. 2021/484 provides that terms used in both S.I. 2021/484 and S.I. 2020/1265 and not defined in the former have the same meaning as in the latter.