[F1Budget allocation for extension applicationsE+W+S
3C.—(1) The Secretary of State—
(a)must determine and publish the budget allocation for extension applications (the “budget allocation”) for the 2022/2023 financial year;
(b)may review the budget allocation for that financial year;
(c)may, as a result of such a review, increase the budget allocation;
(d)may determine and publish that part of the budget allocation which will be allocated to a particular technology or group of technologies.
(2) For the purpose of determining the budget allocation for the 2022/2023 financial year, the Secretary of State must publish—
(a)an estimate of inflation for that financial year; and
(b)load factors applicable for each relevant technology.
(3) The Authority must consider extension applications in the order in which it receives them, and must not grant an extension application where the estimated total extension application commitment for the 2022/2023 financial year would exceed the budget allocation for that year if the extension application were granted.
(4) Following an increase in budget allocation pursuant to paragraph (1)(c), or any decrease in the estimated total extension application commitment resulting from the withdrawal or rejection of an extension application, the Authority must proceed to consider outstanding applications in the order in which they were received.
(5) In this regulation—
“estimated annual payment”, for an extension application, means—
C x LF x H x T x I
where—
(i)C is the expected installation capacity of a plant to which regulation 3B applies;
(ii)LF is the heat load factor for the plant’s technology, published by the Secretary of State under paragraph (2);
(iii)H is the number of hours in the 2022/2023 financial year;
(iv)T is the tariff which will apply if the plant becomes accredited under regulation 30; and
(v)I is the estimate of inflation for the 2022/2023 financial year, published by the Secretary of State under paragraph (2);
“estimated total extension application commitment”, in relation to the 2022/2023 financial year, means the sum of the estimated annual payments for every extension application which has not been withdrawn by the applicant or rejected by the Authority;
“the 2022/2023 financial year” means the 12 month period commencing on 1st April 2022 and ending with 31st March 2023.]
Textual Amendments