The UK government has passed the Energy Act 2023, aiming to reduce energy bills and achieve net-zero targets in a more sustainable manner. The legislation will support onshore power networks and reduce operational and development costs. The government aims to save UK households up to £1 billion per year on energy bills by 2050, contributing to the nation's net-zero emissions goal by mid-century. The Energy Act also provides the legal framework for carbon capture, utilization, and storage (CCUS) support schemes, promoting the growth of the CCUS sector to meet decarbonization goals.

Source: Carbonherald