The Contracts for Difference (Sustainable Industry Rewards) Regulations 2024
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Change 1
3 Amendment to regulation 2 (interpretation)
In regulation 2(1)— (a) at the appropriate place insert— “application opening date” has the meaning given by regulation 4A(2)(b)(ii); “application window” means the period beginning with the application opening date and ending with the application closing date; “application window notice” has the meaning given by regulation 4A(1); “application window variation notice” has the meaning given by regulation 5A(1); “contract allocation framework” means the part of an allocation framework which deals with matters other than sustainable industry rewards; “contract allocation process” means the process included in a contract allocation framework by which the delivery body determines which qualifying applications are successful applications and the strike price applicable to successful applications; “contract budget” means an amount set out in a contract budget notice, which is the total— sum of money potentially payable by the CFD counterparty under CFDs to eligible generators in a delivery year, excluding sustainable industry rewards; capacity of electricity which may be generated by generating stations subject to a CFD in a delivery year; or a combination of (a) and (b); “contract budget notice” means a notice required by regulation 11; “contract budget revision notice” means a notice referred to in regulation 12(2)(b); “contract framework notice” has the meaning given by regulation 7(1); “contract framework revision notice” has the meaning given by regulation 8(4); “sustainable industry reward” means a sum of money which— may be payable by the CFD counterparty to an eligible generator under a CFD allocated in the seventh, eighth or ninth allocation round; is determined in accordance with a sustainable industry reward allocation framework; and is payable for the purpose of supporting the matters referred to in regulation 6(2B) (development and sustainability of supply chains); “sustainable industry reward allocation framework” means the part of an allocation framework which deals with sustainable industry rewards; “sustainable industry reward allocation process” means the process included in a sustainable industry reward allocation framework for the determining of sustainable industry reward applications; “sustainable industry reward applicant” means an eligible generator which makes a sustainable industry reward application; “sustainable industry reward application” means an application made under regulation 28A(1); “sustainable industry reward budget” means an amount set out in a sustainable industry reward budget notice, which is the sum of money potentially payable by the CFD counterparty under CFDs to eligible generators who are eligible for such payments in accordance with a sustainable industry reward statement, expressed as a sum of money payable per gigawatt of electricity generated by such generators; “sustainable industry reward framework notice” has the meaning given by regulation 7(3); “sustainable industry reward framework revision notice” has the meaning given by regulation 8(5); “sustainable industry reward statement” means a statement given by the Secretary of State under regulation 28C, as revised, where applicable, in accordance with regulation 28E; ; (b) omit the definition of “allocation process”; (c) in the definition of “application”, for “an allocation process” substitute “a contract allocation process”; (d) in the definition of “application closing date”, for “4(2)(b)(iii)” substitute “4A(2)(b)(iii)”; (e) omit the definition of “budget notice”; (f) omit the definition of “budget revision notice”; (g) in the definition of “final strike price”, for “allocation process” substitute “contract allocation process”; (h) omit the definition of “framework notice”; (i) omit the definition of “framework revision notice”; (j) omit the definition of “overall budget”; (k) in the definition of “successful application”, for “an allocation process” substitute “a contract allocation process”; (l) in the definition of “target commissioning window”, for “allocation framework” substitute “contract allocation framework”.
3 Amendment to regulation 2 (interpretation)
In regulation 2(1)— (a) at the appropriate place insert— “application opening date” has the meaning given by regulation 4A(2)(b)(ii); “application window” means the period beginning with the application opening date and ending with the application closing date; “application window notice” has the meaning given by regulation 4A(1); “application window variation notice” has the meaning given by regulation 5A(1); “contract allocation framework” means the part of an allocation framework which deals with matters other than sustainable industry rewards; “contract allocation process” means the process included in a contract allocation framework by which the delivery body determines which qualifying applications are successful applications and the strike price applicable to successful applications; “contract budget” means an amount set out in a contract budget notice, which is the total— sum of money potentially payable by the CFD counterparty under CFDs to eligible generators in a delivery year, excluding sustainable industry rewards; capacity of electricity which may be generated by generating stations subject to a CFD in a delivery year; or a combination of (a) and (b); “contract budget notice” means a notice required by regulation 11; “contract budget revision notice” means a notice referred to in regulation 12(2)(b); “contract framework notice” has the meaning given by regulation 7(1); “contract framework revision notice” has the meaning given by regulation 8(4); “sustainable industry reward” means a sum of money which— may be payable by the CFD counterparty to an eligible generator under a CFD allocated in the seventh, eighth or ninth allocation round; is determined in accordance with a sustainable industry reward allocation framework; and is payable for the purpose of supporting the matters referred to in regulation 6(2B) (development and sustainability of supply chains); “sustainable industry reward allocation framework” means the part of an allocation framework which deals with sustainable industry rewards; “sustainable industry reward allocation process” means the process included in a sustainable industry reward allocation framework for the determining of sustainable industry reward applications; “sustainable industry reward applicant” means an eligible generator which makes a sustainable industry reward application; “sustainable industry reward application” means an application made under regulation 28A(1); “sustainable industry reward budget” means an amount set out in a sustainable industry reward budget notice, which is the sum of money potentially payable by the CFD counterparty under CFDs to eligible generators who are eligible for such payments in accordance with a sustainable industry reward statement, expressed as a sum of money payable per gigawatt of electricity generated by such generators; “sustainable industry reward framework notice” has the meaning given by regulation 7(3); “sustainable industry reward framework revision notice” has the meaning given by regulation 8(5); “sustainable industry reward statement” means a statement given by the Secretary of State under regulation 28C, as revised, where applicable, in accordance with regulation 28E; ; (b) omit the definition of “allocation process”; (c) in the definition of “application”, for “an allocation process” substitute “a contract allocation process”; (d) in the definition of “application closing date”, for “4(2)(b)(iii)” substitute “4A(2)(b)(iii)”; (e) omit the definition of “budget notice”; (f) omit the definition of “budget revision notice”; (g) in the definition of “final strike price”, for “allocation process” substitute “contract allocation process”; (h) omit the definition of “framework notice”; (i) omit the definition of “framework revision notice”; (j) omit the definition of “overall budget”; (k) in the definition of “successful application”, for “an allocation process” substitute “a contract allocation process”; (l) in the definition of “target commissioning window”, for “allocation framework” substitute “contract allocation framework”.
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