The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2023

Amends: 

• The Climate Change Agreements (Eligible Facilities) Regulations 2012

• The Climate Change Agreements (Administration) Regulations 2012

Comes into force: 31st December 2023

Jurisdiction: United Kingdom

Changes are made to the Climate Change Agreement scheme, including extending it until 31st March 2027.  Other changes to the scheme include:

• A new target period (TP6) being introduced from 1st January 2024 to 31st December 2024;

• The buy-out fee* for TP6 being increased to £25 per tonne of CO2 that exceeds the target; and

• No surplus* previously accumulated by participants is considered in relation to TP6.

*Surplus means the amount by which the reduction in emissions has exceeded the target.

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