Limit on the net amount of carbon units
2
1
The limit on the net amount of carbon units that may be credited to the net UK carbon account for the 2023-2027 budgetary period is 55,000,000 carbon units.
2
Carbon units credited to or debited from the net UK carbon account as a result of the operation of the EU ETS in respect of each year of the 2023-2027 budgetary period in accordance with regulations made under section 27(3) of the Climate Change Act 2008 do not count towards the limit in paragraph (1).
3
In this article, “EU ETS” means the EU Emissions Trading System established by Directive 2003/87/EC of the European Parliament and of the Council and includes any replacement for that emissions trading system that has effect for any part of the 2023-2027 budgetary period.
See the definition of “carbon units” in regulation 3 of the Carbon Accounting Regulations 2009 (S.I. 2009/1257) which is made under section 26(1) of the Climate Change Act 2008.
OJ No L 275, 25.10.2003, p32; as last amended by Commission Delegated Decision (EU) 2020/1071 (OJ No L 234, 21.7.2020, p16).