Energy & Natural Resources, CMS Cameron McKenna Nabarro Olswang LLP updates

United Kingdom

Contributed by CMS Cameron McKenna Nabarro Olswang LLP
Clearing price plummets in T-4 Capacity Market Auction
  • United Kingdom
  • March 12 2018

National Grid recently published the provisional auction results for the 2017 T-4 Capacity Market Auction, with successful bidders having been provisionally awarded capacity agreements for delivery in 2021/22 at a price of £8.40 per kilowatt (kW) per year. The clearing price is significantly lower than that awarded in the 2016 Capacity Market Auction, where successful bidders were awarded capacity agreements at £22.50 per kW per year.

Oil and gas consultancy agreements: giving effect to parties' true intentions in a commercial context
  • United Kingdom
  • March 05 2018

The Court of Appeal has provided guidance as to what the words "fully operational and enforceable" in an agreement might mean in the context of a production sharing agreement in Kurdistan – in particular, whether such an agreement may be considered fully operational and enforceable without ratification by the Federal Government of Iraq. In doing so, the Court of Appeal ventured into an area that is hotly contested in Iraq.

Offshore renewables: proposed updates to BEIS decommissioning programme guidance
  • United Kingdom
  • February 26 2018

The government Department of Business, Energy and Industrial Strategy recently published a consultation proposing amendments to its guidance for developers and operators of offshore renewable generating stations and transmission assets in respect of decommissioning programmes. The focus of the amendments is on providing greater clarity around the decommissioning cost estimates that developers must provide in their programmes and the financial security that they must provide.

House of Lords European Committee publishes report on energy security post-Brexit
  • United Kingdom
  • February 19 2018

The House of Lords European Committee has published its report on energy security in the United Kingdom following its withdrawal from the European Union. Key among the report's conclusions is that investors require certainty as to the future of UK energy policy. The report also recommends that any change in arrangements should be accompanied by a transition period that ensures consumers are protected while businesses adjust their working practices, contracts and systems.

New siting criteria for large nuclear power stations
  • United Kingdom
  • February 12 2018

The Department for Business, Energy and Industrial Strategy recently issued a consultation on the siting criteria and process for a new national policy statement (NPS) on nuclear power. The NPS will apply to nuclear power stations expected to deploy after 2025 but before 2035, which have over one gigawatt of single reactor electricity generation capacity. It will establish the framework for development consent decisions on applications for new nuclear power stations expected to deploy post 2025.

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