Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, whether she has made an assessment of the additional costs incurred by (a) industry and (b) the refining sector due to expectations of future linkage between the UK and EU emissions trading schemes in the last three years.

The price of carbon allowances in the UK Emissions Trading Scheme is set by the market and reflects a range of factors. As the conveners of the market, the Government is not able to comment on current prices and price movements.

Linking the UK ETS and EU ETS is expected to bring significant benefits for UK industry, including access to a larger, more stable and liquid carbon market, helping to minimise the cost of decarbonisation. The Government recognises the important role that refineries play in energy security, resilience, economic growth and jobs.