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The Contracts for Difference (Sustainable Industry Rewards) Regulations 2024
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Contracts for Difference (Sustainable Industry Rewards) Regulations 2024 No. 710
Insertion of regulation 13A (sustainable industry reward budgets)
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15. After regulation 13 insert—
“Sustainable industry reward budgets
13A.—(1) Where the Secretary of State gives a sustainable industry reward framework notice in relation to an allocation round, the Secretary of State must by notice (“a sustainable industry reward budget notice”) specify the sustainable industry reward budget which is available for that allocation round.
(2) The Secretary of State must give a sustainable industry reward budget notice in its indicative form at the same time as the Secretary of State gives the sustainable industry reward framework notice.
(3) The Secretary of State must give a sustainable industry reward budget notice in its draft form no less than 3 months before the date on which the sustainable industry reward allocation process will commence, as specified in the sustainable industry reward framework notice or in a sustainable industry reward framework revision notice.
(4) The Secretary of State may revise a sustainable industry reward budget notice given in its indicative form under paragraph (2) before it is given in its draft form under paragraph (3).
(5) The Secretary of State must give a sustainable industry reward budget notice in its final form within the period of three weeks beginning with the day after the last day on which an eligible generator may make a sustainable industry reward application, as specified in the sustainable industry reward allocation framework.
(6) The Secretary of State may revise a sustainable industry reward budget notice given in its draft form under paragraph (3) before it is given in its final form under paragraph (5).
(7) A sustainable industry reward budget notice, whether in its indicative, draft or final form, must—
(a)be given to the delivery body and the CFD counterparty; and
(b)identify the allocation round to which the sustainable industry reward budget notice applies.”.
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