Part 1 Introductory
Energy Act 2013 (2013 c 32) | Legislation

SCHEDULE 2 Investment Contracts

Section 44

Part 1 Introductory

Meaning of “investment contractâ€

1

(1)     In this Schedule an “investment contract†means a contract with an electricity generator which—

(a)     is entered into by the Secretary of State, whether before or after this Schedule comes into force, on or before the earlier of 31st December 2015 and the date on which a definition of an “eligible generator†first comes into force by virtue of section 10(3),

(b)     if it relates to an electricity generating station in Northern Ireland, is entered into with the consent of the Department of Enterprise, Trade and Investment,

(c)     includes an obligation for the parties to make payments under the contract based on the difference between a strike price and a reference price in relation to electricity generated, and

(d)     is laid before Parliament in accordance with sub-paragraph (5).

(2)     If the contract is entered into before the coming into force of this Schedule, the obligation referred to in sub-paragraph (1)(c) must be conditional on the being in force of this Schedule.

(3)     In sub-paragraph (1)—

“electricity generatorâ€, in relation to an investment contract, means—

(a)     a person who at the time the

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