1 Principal objectives and general duties of Secretary of State and economic regulator
Energy Act 2023 (2023 c 52) | Legislation

Part 1 Licensing of Carbon Dioxide Transport and Storage

Chapter 1
Licensing of Activities

General functions

1  Principal objectives and general duties of Secretary of State and economic regulator

(1)     The principal objectives of the Secretary of State and the GEMA in carrying out their respective functions under this Part are to—

(a)     protect the interests of current and future transport and storage network users;

(b)     protect the interests of any consumers whose interests the Secretary of State or the economic regulator (as the case may be) considers may be impacted by the exercise of their respective functions under this Part;

(c)     promote the efficient and economic development and operation of transport and storage networks, having regard to the need for licence holders to be able to finance their licensable activities.

(2)     In this Part the GEMA is referred to as the “economic regulator”.

(3)     The Secretary of State and the economic regulator must carry out their respective functions under this Part in the

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