The UK’s Energy Act has today (October 26) received Royal Ascent with a hydrogen industry funding mechanism attached.
Slated by the government to unlock £100bn ($121bn) of private investments in energy infrastructure, scale up jobs and support Net Zero, the Act has finally completed its long journey to receive (procedural) approval from King Charles III.
For the hydrogen industry, it means a mechanism for funding government-backed developments has been passed – the long debated ‘hydrogen levy.’
After a thinktank earlier this year (2023) said if such levy was placed on taxpayers, it could increase the average dual-fuel household’s energy bills by £119 ($144) per year, the government amended the bill to see ‘gas shippers’ bear the cost.
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