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The Electricity and Gas (Energy Company Obligation) Order 2022
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Electricity and Gas (Energy Company Obligation) Order 2022 No. 875
Penalty for late completion of qualifying actions
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64.—(1) This article applies for the purpose of determining the value of “L” in the formula in article 55(2) where the ECO4 project consists of one or more qualifying actions which are not completed on time within the meaning of article 65(2).
(2) The value of “L” is—
(a)if the ECO4 project consists of one qualifying action which is not completed on time, the late completion penalty for that qualifying action;
(b)otherwise, the sum of the late completion penalties for each of the qualifying actions in the ECO4 project which is not completed on time.
(3) For the purposes of paragraph (2), the late completion penalty for a qualifying action in the project which is not completed on time is calculated in accordance with the following formula—
KM x 0.2.
(4) In paragraph (3), “KM” is the determined cost savings for the qualifying action.
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