Energy - Power

Recent Articles

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  04/12/2024

  Hungary

  Hungary to introduce new statistical classification for economic activities on 1 January 2025

  As of 1 January 2025, a new version of the statistical industrial classification of activities (NACE’25) will replace the currently applicable classification system (NACE’08). The change was mandated by EU legislation, and as a result from 1 January 2025 economic activities pursued by Hungarian companies must be classified according to the new NACE’25.Hungary’s parliament has just adopted the act outlining the obligations of Hungarian companies regarding the upcoming changes to the activity-classification system specified below.Until 31 January 2025, the National Tax and...

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  25/10/2024

  United Kingdom

  The Capacity Market phase 2 consultation: Further policy updates from government

  Background  To strengthen security of supply and accelerate investment in low carbon technologies, the UK government consulted on proposed reforms to the GB Capacity Market regime (the “CM Regime”) (see our previous commentary here). In July 2023, the Department for Energy Security & Net Zero (“DESNZ”) published a summary of the responses (“Phase 1 Consultation Response”) to the Consultation. A subsequent Phase 2 consultation ran in late 2023 to consult on alignment with the government’s net zero goals and set out the call for evidence...

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  18/10/2024

  United Kingdom

  Long duration energy storage - Government Response

  The Government has now published its much anticipated response (the “Response”) to its long duration electricity storage consultation (the “Consultation”), which was published on 9 January 2024. The policy framework envisaged by the Consultation and the Response aims to address the challenges and opportunities associated with investment into long duration electricity storage (“LDES”). Our previous LawNow article on the Consultation can be found here.As well as confirming that the Government will proceed with the proposed cap and floor scheme, the Response confirms...

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  03/10/2024

  United Kingdom

  Tenders Regulations for Early Competition: another piece of the jigsaw

  Ofgem have published a consultation on their proposed Electricity (Early-Model Competitive Tenders for Onshore Transmission Licences) Regulations 2024 which are aimed at promoting Early Competition in onshore transmission.We have previously written about the Early Competition model, commenting on the Regulations introduced earlier this year to establish the criteria that onshore electricity transmission projects must meet in order to be eligible for Early Competition here. Those Regulations came into force on 12 March 2024. The latest draft Electricity (Early-Model Competitive Tenders...

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  02/10/2024

  Hungary

  Hungary begins implementation of EU AI Act with passage of Resolution

  The Hungarian government has issued Resolution 1301/2024. (IX. 30.), which establishes the foundation for creating the body responsible for implementing the tasks required by the EU AI Act. In issuing this resolution, Hungary has begun preparations for enforcing the regulation, which means that companies should now prepare for compliance by reviewing the AI systems they use, assessing these systems' alignment with the EU AI Act's requirements, and preparing the necessary risk management documentation to ensure transparency, accountability, and safety.Hungary’s new enforcement body will:Operate...

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  01/10/2024

  United Kingdom

  Establishing the National Energy System Operator

  Introduction and background As of today, 1 October 2024 (“NESO Commencement Day”), Great Britain’s (“GB’s”) electricity and gas system will be planned and operated by a newly designated independent, publicly owned organisation – the National Energy System Operator Limited (“NESO”) – as part of the strategic approach to enable the Government’s target of a zero-carbon energy system by 2030.Pursuant to a decision notice (the “NESO/ELEXON Decision Notice”) issued by the Secretary of State (“SoS”) for the...

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