On 11 May 2021, there was published on the legislation.gov.uk website The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 together with an explanatory memorandum.
The Regulations amend the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 (the Auctioning Regulations). The Auctioning Regulations make provision for the auctioning of emissions allowances to emit 1 tonne of carbon dioxide equivalent under the UK Emissions Trading Scheme (the UK ETS) and introduce mechanisms to support market stability in this new scheme. The UK ETS was established by the Greenhouse Gas Emissions Trading Scheme Order 2020. The Regulations clarify the policy intent in the Auctioning Regulations as regards the establishment of those who are permitted to represent bidders in UK ETS auctions. The amendment needs to be in force in advance of the first UK ETS auction on 19 May 2021.