delete Amendments to the ITC Regulation
Post-Brexit amendment regulation that modifies two retained EU electricity regulations (ITC Regulation and Electricity Balancing Regulation) and revokes two EU regulations (CACM and FCA guidelines) relating to electricity market trading, capacity allocation, and congestion management. Does not apply to Northern Ireland.
These are retained EU laws establishing highly prescriptive electricity market rules that were never subject to meaningful democratic scrutiny by Parliament — inherited wholesale from the EU acquis. While this regulation makes minor amendments for exit purposes, the underlying frameworks impose significant compliance burdens on energy companies and restrict the UK's ability to design a more competitive, market-driven electricity trading regime. Post-Brexit Britain should have the opportunity to develop its own lighter-touch approach to electricity markets, unconstrained by rules designed to harmonise with the EU internal energy market. The revocation of CACM and FCA guidelines is welcome, but the amended ITC and Electricity Balancing Regulations should also be reviewed and replaced with UK-specific rules that prioritises market efficiency over bureaucratic process.