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Jun 06, 2016

The Energy Act 2016 – An Independent Regulator Gets its Teeth

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In our December update, following publication of the draft strategy for the UK Oil and Gas Authority, we noted that a consultation on the merits of maximisation of economic recovery was a welcome development, but that further guidance and detail was needed as to how the strategy would be implemented. The next step in this process took place on 12 May 2016, with the granting of Royal Assent to the Energy Act 2016.

The Act furthers the recommendations of the Wood Review, and establishes the OGA as the independent regulator for the UK oil and gas sector by transitioning it from an Executive Agency of the Department of Energy and Climate Change (“DECC”) to a company incorporated under the Companies Act 2006. Substantial changes for the UK oil and gas landscape are set out in the body of the Act addressing the core functions of the OGA, the resolution of disputes in the sector, information gathering powers of the OGA, sanctions and charges, and access to infrastructure and decommissioning. This note summarises the impact of the Act on each of those topics.

View full memo, The Energy Act 2016 – An Independent Regulator Gets its Teeth

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