Article 2 Limit on the net amount of carbon units

The limit on the net amount of carbon units^f1 that may be credited to the net UK carbon account for the 2028-2032 budgetary period is 0 carbon units.

Carbon units credited to or debited from the net UK carbon account in connection with the operation of the EU ETS in respect of each year of the 2028-2032 budgetary period in accordance with regulations made under section 27(3) of the Act do not count towards the limit in paragraph (1).

In this article, “EU ETS” means the EU Emissions Trading System established by Directive 2003/87/EC of the European Parliament and of the Council^f2 and includes any replacement for that emissions trading system that has effect for any part of the 2028-2032 budgetary period.