Legal Guidance and Research / Experts / Andreas Formosa
Andreas Formosa#1558
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Andreas Formosa

Clifford Chance
Andreas is a senior associate in Clifford Chance's energy and resources group where he advises on energy projects, including offshore wind, electricity transmission and distribution; and on energy and infrastructure regulation. He is very experienced in energy regulatory law having joined Clifford Chance from Ofgem where he worked as a senior legal adviser in the "systems and networks" team. Andreas is also very active in the wider energy community, as he frequently contributes to energy law publications and has given University guest lectures on innovation and regulation in the energy sector, and has been selected by the World Energy Council as a "Future Energy Leader." Andreas is qualified to practise in England & Wales (2017) and Cyprus (2013).

Practice Area

Panel

  • Contributing Author

Qualified Year

  • 2017

Membership

  • World Energy Council

Education

  • LL.M Environmental Law and Policy (UCL)
  • LL.B (LSE)

1 Contributions by Andreas Formosa

UK Renewables Obligation transition to a Fixed Price Certificate Scheme: legal framework, central counterparty, trading models, levy funding, commencement timing and PPA implications
PRACTICE NOTES
UK Renewables Obligation transition to a Fixed Price Certificate Scheme: legal framework, central counterparty, trading models, levy funding, commencement timing and PPA implications
What is the fixed price certificate scheme? Sections 32N–32Z2 of the Electricity Act 1989 establish the closure of the Renewables Obligation (RO) and the shift to a fixed price certificate scheme (FPC Scheme). The purpose is to curb exposure to volatile and rising prices for RO certificates (ROCs) across the RO’s final decade, ending in 2037. For additional background on the RO and its closure, see Practice Notes: Renewables Obligation (RO) scheme—key features and The Renewables Obligation Closure and Grace Periods: a consolidated summary [Archived]. The government, in its 2011 energy white paper and subsequent consultations, set out that heightened and more erratic pricing could result because, after the RO closed to new projects in 2017, there is a closed and shrinking pool of capacity as RO‑accredited generators are decommissioned, or until they are no longer entitled to receive ROCs... Design of the FPC Scheme While the Electricity Act 1989 provides the overarching structure for the FPC Scheme, the specific provisions will be detailed in a ‘renewables obligation order’ made by the Secretary of State...
Energy
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