Energy UK responds to 'No Deal' paper on climate change requirements
Responding to the Government’s paper on meeting climate change requirements in the event of a ‘No Deal’ Brexit, an Energy UK spokesperson said:
“The no-deal technical notice on meeting climate change requirements, published today, clarifies that the existing carbon pricing commitments will initially be met via the tax system applicable as from 2019. This is an important commitment from the Government aimed at managing the immediate consequences of the UK leaving the EU Emissions Trading System (EU ETS) as a result of a no-deal situation.
“However, Energy UK has always advocated that the UK remaining in - or closely linked to - the EU ETS remains the most preferable route for long-term carbon pricing. We strongly believe that a withdrawal deal with a transition period, allowing the UK to stay part of the EU ETS until the end of 2020, continues to be the best solution for driving progress towards cost-effective decarbonisation through low carbon investment.”