Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he and the Minister for Brexit Opportunities and Government Efficiency are taking to ensure the UK Emissions Trading System supports the UK’s energy resilience.

Since the UK ETS was launched on 1 January 2021 (replacing the UK’s participation in the EU ETS), a consultation has been launched (on 25 March 2022) fulfilling the Government’s commitment to align the scheme with the UK’s net zero ambitions and consulting on options to introduce the necessary changes to the scheme predictably and smoothly over the coming decade. In doing so, businesses will be given the confidence to invest in the transition to cheap, clean homegrown energy that is significantly reducing reliance on fossil fuels and exposure to volatile oil and gas prices on global markets.