Energy Prices Act 2022
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Change 1
9 Reduced energy charges for non-domestic customers in Great Britain
(1) The Secretary of State may, by regulations, make provision for and in connection with— (a) reducing the amounts that would otherwise be charged for GB non-domestic electricity supply by licensed electricity suppliers, and (b) making payments to those suppliers in respect of those reductions. (2) The Secretary of State may, by regulations, make provision for and in connection with— (a) reducing the amounts that would otherwise be charged for GB non- domestic gas supply by licensed gas suppliers, and (b) making payments to those suppliers in respect of those reductions. (3) Regulations under this section may, in particular, provide for reductions in amounts charged to be calculated by reference to the difference between— (a) the wholesale price paid for electricity or gas, as a component of the amounts that would otherwise be charged for the supply of electricity or gas, and (b) a notional wholesale price, if it is lower than the wholesale price paid. (4) If the regulations make such provision, they may in particular— (a) provide for— (i) the wholesale price paid to be the actual wholesale price paid or a wholesale price treated as paid, and (ii) that wholesale price to be specified in or under the regulations, or determined in accordance with the regulations; (b) provide for the notional wholesale price to be specified in or under the regulations, or determined in accordance with the regulations. (5) The Secretary of State may review the operation of regulations under this section. (6) Regulations under this section are subject to the affirmative procedure. (7) Schedule 1 describes particular kinds of provision that may be made by regulations under this section. (8) For provision about time limits on the exercise of the powers conferred by this section, see Schedule 6.
9 Reduced energy charges for non-domestic customers in Great Britain
(1) The Secretary of State may, by regulations, make provision for and in connection with— (a) reducing the amounts that would otherwise be charged for GB non-domestic electricity supply by licensed electricity suppliers, and (b) making payments to those suppliers in respect of those reductions. (2) The Secretary of State may, by regulations, make provision for and in connection with— (a) reducing the amounts that would otherwise be charged for GB non- domestic gas supply by licensed gas suppliers, and (b) making payments to those suppliers in respect of those reductions. (3) Regulations under this section may, in particular, provide for reductions in amounts charged to be calculated by reference to the difference between— (a) the wholesale price paid for electricity or gas, as a component of the amounts that would otherwise be charged for the supply of electricity or gas, and (b) a notional wholesale price, if it is lower than the wholesale price paid. (4) If the regulations make such provision, they may in particular— (a) provide for— (i) the wholesale price paid to be the actual wholesale price paid or a wholesale price treated as paid, and (ii) that wholesale price to be specified in or under the regulations, or determined in accordance with the regulations; (b) provide for the notional wholesale price to be specified in or under the regulations, or determined in accordance with the regulations. (5) The Secretary of State may review the operation of regulations under this section. (6) Regulations under this section are subject to the affirmative procedure. (7) Schedule 1 describes particular kinds of provision that may be made by regulations under this section. (8) For provision about time limits on the exercise of the powers conferred by this section, see Schedule 6.
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