In its response to this report, the Government should commit to a publication date for the outcome of its consultation on the new fiscal regime. To provide much-needed clarity and confidence to the sector, the successor regime should be brought into effect as soon as possible, rather than replacing the Energy Profits Levy from 2030. (Recommendation, Paragraph 67)

In its response to this report, the Government should commit to a publication date for the outcome of its consultation on the new fiscal regime. To provide much-needed clarity and confidence to the sector, the successor regime should be brought into effect as soon as possible, rather than replacing the Energy Profits Levy from 2030. (Recommendation, Paragraph 67) Type: recommendation | Number: 7 | Response status: partially_accepted Government response: The government partially agrees with this recommendation. We recognise the importance of building long-term stability and certainty in the oil and gas tax regime. Autumn Budget 2025 announced that a new OGPM will replace the EPL when it ends in March 2030, or earlier if the EPL price floor triggers.