Energy Prices Act 2022

14 Procedure and reporting in connection with section 13

(1) The power conferred by section 13(2) is exercisable only in accordance with subsections (2) to (4).

(2) Expenditure to be incurred by the Secretary of State—

(a) in consequence of an exercise of the power conferred by section 13(2), and

(b) in connection with any one project,

must not exceed £100 million unless the expenditure in excess of that sum is authorised by a resolution of the House of Commons before the power is exercised.

(3) But subsection (2) does not apply if the Secretary of State is satisfied that the exercise of the power is urgent and that it is not reasonably practicable to obtain the approval of the House of Commons for the connected expenditure before doing so.

(4) In such circumstances, the Secretary of State must, as soon as reasonably practicable, lay a statement concerning that expenditure before Parliament.

(5) As soon as reasonably practicable after the end of any quarter in which a power conferred by section 13 is exercised or expenditure is incurred by the Secretary of State in consequence of the exercise of such a power, the Secretary of State must lay before Parliament a report stating the amount of, and containing such other details as the Secretary of State considers appropriate about—

(a) expenditure incurred by the Secretary of State in that quarter in consequence of the exercise of the powers conferred by section 13,

(b) expenditure incurred by the Secretary of State in consequence of the exercise of those powers from the time when this Act came into force until the end of that quarter, and

(c) expenditure expected to be incurred by the Secretary of State in the future in consequence of the exercise of those powers, both during that quarter and during previous quarters.

(6) In subsection (5) “quarter” means a period of three months ending at the end of March, June, September or December.