The Carbon Capture Revenue Support (Directions, Eligibility and Counterparty) Regulations 2024

1Citation, commencement and extent

2Interpretation and application

3Meaning of “eligible” in relation to a carbon capture entity

4Meaning of “excluded carbon capture entity”

5Directions pursuant to section 68(1) of the Energy Act 2023

6Directions ceasing to have effect

7Revocation of a direction by the Secretary of State

8Publication of carbon capture revenue support contracts

9Register of carbon capture revenue support contracts

10Carbon capture counterparties – notification of defaults

SCHEDULEREGISTER OF CARBON CAPTURE REVENUE SUPPORT CONTRACTS

PART 1DUTIES OF A CARBON CAPTURE COUNTERPARTY

1A carbon capture counterparty must maintain the register required to...

2A carbon capture counterparty must create an entry on the...

3A carbon capture counterparty may, in addition to any information...

4A carbon capture counterparty must, so far as it is...

PART 2INFORMATION IDENTIFYING THE CONTRACT AND THE ELIGIBLE CARBON CAPTURE ENTITY

5The unique identifier

6Information regarding the eligible carbon capture entity

PART 3INFORMATION REGARDING THE FACILITIES WHERE THE CARBON DIOXIDE IS CAPTURED

7A carbon capture counterparty must, in respect of each carbon...

PART 4INFORMATION ABOUT THE COMMENCEMENT AND DURATION OF ACTIVITIES PURSUANT TO THE CONTRACT ETC.

8(1) A carbon capture counterparty must, in respect of each...

PART 5INFORMATION ABOUT PAYMENT CALCULATIONS UNDER THE CONTRACT

9(1) In this Part, “capex payment rate”, “reference price” and...

Draft Regulations laid before Parliament under sections 57(9) and 331(3) of the Energy Act 2023, for approval by resolution of each House of Parliament.

2024 No.

Energy

The Carbon Capture Revenue Support (Directions, Eligibility and Counterparty) Regulations 2024

Made***

Coming into force***

Before making these Regulations, the Secretary of State has in accordance with section 85 of the Energy Act 20231 consulted the persons listed in section 85(2).

In accordance with sections 57(9) and 331(3) of that Act, a draft of these Regulations has been laid before and approved by resolution of each House of Parliament.

Accordingly, the Secretary of State, in exercise of the powers conferred by sections 57, 58(2), 68(2), 68(4) and 83(1) of that Act, makes the following Regulations: