Here are some key events that are related to the energy and gas industry.
End of Carbon Reduction Commitment
The Carbon Reduction Commitment (CRC) scheme was abolished following the 2018/19 compliance year. In parallel, there was an increase in the Climate Change Levy (CCL) ensuring the change is a fiscally-neutral reform for the Government.
31st March 2019
Launch of SECR
Streamlined Energy and Carbon Reporting (SECR) regulations replaced the CRC Energy Efficiency Scheme from April 2019.
1st April 2019
Feed-in Tariff Scheme Scrapped
The Feed-in Tariff scheme was scrapped from April 2019 with no plans to replace the scheme which was put in place to incentivise small scale renewable energy generation.
1st April 2019
Smart Export Guarantee Scheme Introduced
The Smart Export Guarantee is a government legislation for licensed electricity suppliers, allowing them to offer a tariff and pay small-scale, low-carbon generators for electricity exported to the grid.
1st January 2020
United Kingdom leaves the EU
The United Kingdom withdrew from the European Union following the 2016 referendum potentially changing how the UK trades on energy markets.
31st January 2020
Start of Storage Year
The UK’s gas storage year runs from the start of May to the end of April and the amount of storage capacity at sites can strongly impact gas prices.
1st April 2020
Changes to Climate Change Levy
The Climate Change Levy will be amended each year in attempt to rebalance the ratio of gas and electricity, by 2022 the rate of gas will be 60% that of the electricity rate.
1st April 2020
Rise in non-energy costs
Non-Energy costs increased significantly from the 1st of April 2020 with Contracts for Difference, Renewable Obligation and Capacity Market supplier charges showing the most significant changes.
1st April 2020
COP26 UN Summit Meeting
The 26th UN Climate Change Conference was to be held in Glasgow but will now be rescheduled due to the Coronavirus pandemic.
9th November 2020
New applicant deadline for the Climate Change Agreement scheme
The deadline for new applicants to participate in the Climate Change Agreement scheme which has been extended until March 2025.
30th November 2020
Potential changes to UK participation in the EU ETS
The UK will remain in the European Union Emissions Trading System until the 1st of January 2021 and proposals for the future of UK carbon pricing are yet to be finalised.
1st January 2021
Planned date for Ofgem’s Targeted Charging Scheme
Currently under review, Ofgem are assessing how residual network charges should be set and recovered in Great Britain. This will result in changes to Transmission Network Use of System and Distribution Use of System charges.
1st April 2021
Ofgem to launch Centralised Switching Service
Ofgem have confirmed plans to create a faster switching program which would combine both gas and electricity.
1st June 2021
New Smart Meter Rollout Targets
The start of government imposed targets for suppliers to help meet the smart meter rollout deadline of 2024.
1st June 2021
Further change to DUoS Charges
DUoS charges will be amended in 2022 to place more emphasis on a fixed charge based on available capacity.
1st April 2022
End of Current Smart Meter Rollout
Gas and electricity suppliers in the UK are required to take all reasonable steps to rollout smart meters to all their domestic and small business customers – the deadline had now been extended to 2024.
31st December 2024
Climate Change Agreement Scheme End Date
The Climate Change Agreement Scheme has been extended until March 2025, initially scheduled to end in March 2023.
31st March 2025
End of Coal Power in UK
The UK government plans to completely phase out electricity generation from coal by 2025 by converting existing plants to gas or shutting them down entirely.
1st October 2025