Article 11 Article 20 amended (cap for scheme years)I1

Article 20 is amended as follows.

For paragraph (1) substitute—

“(1)

The number of allowances created in a scheme year may not exceed the sum of—

(a)

the base for the scheme year multiplied by—

(i)

if the scheme year is in the 2021-2025 allocation period, the 2021-2025 hospital and small emitter reduction factor;

(ii)

if the scheme year is in the 2026-2030 allocation period, the 2026-2030 hospital and small emitter reduction factor; and

(b)

the balance of allowances in the new entrants' reserve on 1st January in the scheme year (see article 34G for the new entrants' reserve).”.