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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 (S.I. 2021/484) to update the auction reserve price to reflect inflation since the introduction of the scheme. These Regulations additionally introduce an automatic annual uplift to the auction reserve price from 1st January 2027, calculated by reference to the annual GDP deflator figure published by the Office for National Statistics.

An impact assessment of the effect that these Regulations will have on business, the voluntary sector and the public sector is available from the Department for Energy, Security and Net Zero at 55 Whitehall, London SW1A 2HP, and is available alongside this instrument on www.legislation.gov.uk.