The United Kingdom intends to remain in Europe's emissions trading system (ETS), at least until the end of the third phase of negotiations from 2013-2020. This was stated by the British Energy Minister on Wednesday. The state of Britain's membership of the regime after the country's exit from the European Union in March 2019 was hitherto unclear.
[su_pullquote align=”right”]Clean Energy and Clean Development Minister Claire Perry said he has not yet formally agreed but the government wanted to secure the companies covered by the plan at least until the end of the third phase.[/su_pullquote]
[su_heading style=”modern-2-orange” size=”18″ align=”left”]The emissions trading system in the United Kingdom[/su_heading]
It is noted that Britain is the second largest country in greenhouse gas emissions in Europe. As a result, utilities and industry are among the largest ETS buyers in the ETS. Under the greenhouse gas emissions trading scheme, these companies are charged for every tonne of carbon dioxide (CO2) emitted in the context of electricity generation.
These companies have asked the British government to keep the country in the system by the end of the current bargaining phase to avoid disturbances. However, the position of the companies is unanimous on whether Britain should remain in the system after the end of this period.
Mr Perry said Britain is committed to using a price for coal as a means to reduce emissions. However, it will use the country's exit from the European Union as a means of “taking advantage of the opportunity to explore if there are other opportunities” to achieve this.
The rules of the ETS ETS are set by the European Parliament and imposed by the European Court of Justice. Industry experts have said it could be politically difficult for the UK to justify the country's stay in the system.
Britain has a legally binding target to reduce greenhouse gas emissions, such as those produced from fossil-based power plants, by 80% from 1990 levels by 2050.
Source: World Energy News magazine, by Susanna Twidale
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