15th November 2023
New landmark legislation designed to reform the energy market has been introduced into law, with changes set to impact energy production, security and regulation. Here’s what you need to know:
The Energy Act 2023, which has gone through a number of iterations since first being put to Parliament in July 2022, was given Royal Assent last month and will, according to the government, ensure families don’t feel a disproportionate financial burden as the country moves towards net zero, whilst also boosting investment into clean energy and supporting skilled jobs in the sector.
Some of the key measures introduced by the new legislation include:
Natalia Sokolov, Lead for the Thrings Clean Energy team, said: “The Energy Act is a landmark piece of legislation for the government in their efforts to demonstrate their commitment to achieving net zero – despite the lengthy back-and-forth in Parliament – but only time will tell whether these measures will have the desired impact.
“For many businesses this could mean onerous changes to longstanding practices, but it could also present opportunities for those ready to adapt early. With clean energy very much being a staple of the future as we progress towards net zero, business should make sure they are seeking quality professional and legal advice on how they can make improvements, not only to have a positive impact on the bottom line but to improve their business as a whole.”
Thrings’ Clean Energy and Development of Land lawyers are experienced specialists in all aspects of the built environment, working with landowners, developers, planners and construction businesses. To find out how they can assist in the success of your land project or development, get in touch.