On 10 May 2021, the Department for Business, Energy and Industrial Strategy (BEIS) published a new webpage explaining the supply of allowances in the UK Emissions Trading Scheme (UK ETS) in the early years of the scheme. The UK ETS went live on 1 January 2021, replacing the UK’s participation in the EU Emissions Trading System. In particular, it sets out the background information on the functioning of the auctions and secondary market, free allocation and the market stability mechanisms that the ETS Authority has in place to support smooth market operation. It also signals that the UK ETS Authority will monitor the market closely as it develops and will actively consider at the earliest opportunity actions to support smooth market operation.