Renewable Electricity Generation Bill - Clause 1 - Overview of this Act - Northern Ireland Assembly

Clause 1 - Overview of this Act

Clause 1 provides an overview of the Act.

This clause also defines a Contract for Difference as being between an eligible generator of electricity and a counterparty. The counterparty manages the generation contracts with the generator. In England the counterparty is the Low Carbon Contracts Company. The Bill doesn’t specify who the counterparty will be.

The clause defines a Contract for Difference in terms of generators receiving sums where the market reference price is below the strike price and the generator paying sums to a counterparty where the market reference price is above the strike price.

The clause indicates that the counterparty’s costs are to be met by a supplier levy.

Provisions relating to eligible generators and the counterparty are given in Clause 3 and Clause 4 respectively.

6. Do you agree that Contracts for Difference should be the basis for encouraging renewable electricity generation?

Yes No

If no, how should this clause be amended?

7. Do you agree that the generating contracts should be managed using a counterparty?

Yes No

If yes, who should the counterparty be?

If no, how should this clause be amended?

8. Do you agree that the costs of the counterparty should be met by a supplier levy?

Yes No

If no, how should this clause be amended?

9. Do you have any further amendments that you would like to propose to this clause?