The Power Purchase Agreement Scheme Regulations 2014

1. Introductory Text

2. PART 1 General

   1. 1. Citation and commencement

   2. 2. Interpretation

3. PART 2 Power purchase agreement scheme

   1. Terms of backstop power purchase agreements

      1. 3. Standard terms of BPPAs

      2. 4. Number of BPPAs subject to an auction held in respect of an eligible generator

   2. Procedure for entering into backstop power purchase agreements

      1. 5. Sending expressions of interest to all licensed suppliers

      2. 6. Determination as to whether electricity generator meets eligibility requirements

      3. 7. OLR notice in respect of an eligible generator

      4. 8. Period for taking steps required by regulations 6 and 7

      5. 9. Circumstances before issue of OLR notice in which no BPPA is to be entered into

      6. 10. Circumstances after issue of OLR notice in which no BPPA is to be entered into

      7. 11. Auction process for selecting a licensed supplier in respect of a BPPA

      8. 12. Requirement to participate in auctions held in an OLR year

      9. 13. Modification of certain deadlines in exceptional circumstances

   3. Information in connection with power purchase agreement scheme

      1. 14. CFD Counterparty to provide information requested by the Authority

      2. 15. Licensed suppliers to provide information requested by the Authority

      3. 16. Records to be maintained by the Authority

      4. 17. Annual reports

4. PART 3 OLR levelisation and mutualisation

   1. OLR levelisation

      1. 18. OLR levelisation

      2. 19. Calculations required for purposes of this Part

      3. 20. Annual levelisation payments

      4. 21. Periodic levelisation payments

      5. 22. Notice of levelisation payments

      6. 23. Payments by the Authority

      7. 24. Levelisation correction

   2. OLR mutualisation

      1. 25. Trigger for OLR mutualisation

      2. 26. OLR mutualisation

   3. Miscellaneous

      1. 27. Termination of supply licence

      2. 28. Late payments

5. PART 4 Miscellaneous

   1. 29. Enforcement

   2. 30. Publication of guidance

   3. 31. Reviews by Secretary of State

   4. 32. Notices etc

6. Signature

7. 1. SCHEDULE

      BPPA auction process

      1. PART 1 The auction

         1. 1. One auction in respect of each eligible generator

         2. 2. Close of the auction period

         3. 3. Errors or omissions in information submitted by eligible generator

      2. PART 2 BPPA

         1. 4. Single BPPA subject to an auction

         2. 5. Determining the successful bid

         3. 6. Reserve bids

         4. 7. Consideration of reserve bids

         5. 8. Multiple BPPAs subject to an auction

         6. 9. Determining the successful bid: multiple BPPA auction

         7. 10. Reserve bids: multiple BPPA auction

         8. 11. Consideration of reserve bids: multiple BPPA auction

         9. 12. Publishing the outcome of an auction

8. Explanatory Note