James Stanier
James Stanier is a specialist energy lawyer who advises clients on a wide range of complex commercial and regulatory matters.
James advises market leading offtakers, major utilities, energy traders, suppliers, network owners and operators, developers and managers of industry codes.
James frequently advises on commercial agreements in the energy sector, having a particular specialism in power purchase agreements (PPAs) and heat supply arrangements. He has drafted and negotiated PPAs for a significant proportion of GB's largest renewable projects.
Additionally, he has expertise in energy trading documentation - including GTMAs, ISDAs, EFETs, NBPs, master agreements and associated credit support documents.
James has worked in the energy sector throughout his legal career. He counts himself as very lucky to be able to work in a sector which he is passionate about and thrives on providing innovative and technical legal advice in a constantly developing and fast moving environment.
Practice Area
Panel
- Consulting Editorial Board
Qualified Year
- 2011
Education
- BPP Law School
- University of Wales, Aberystwyth
4 Contributions by James Stanier
PRACTICE NOTES
A practical overview of the ROC Trading Master Agreement (ROCTMA): market context, structure, elections and key provisions on confirmations, transfer, payment, termination, liability, change in law and dispute resolution
What is a ROCTMA?
In the UK, Renewables Obligation Certificates (ROCs) are traded bilaterally, and there is no mandatory template for such transactions. Nevertheless, the ROC Trading Master Agreement (ROCTMA) has become the recognised standard form for documenting bilateral ROC sale and purchase arrangements, and is widely used by renewable electricity generators, electricity suppliers and ROC traders.
A copy of the ROCTMA, published in March 2005 by the Futures and Options Association (now known as the FIA, which originally stood for Futures Industry Association), is available to the public on the FIA website under Renewables Obligation Certificate Trading Master Agreement.
Although the Renewables Obligation has closed to new projects, ROCs will continue to be issued until a fixed price certificate (FPC) scheme is introduced, which is anticipated to launch on 1 April 2027 (see government consultation: Transition from the Renewables Obligation to Contracts for Difference). On 31 July 2023, the government issued a call for evidence, which reiterates the rationale for moving to an FPC model in 2027.
What are the alternatives to a ROCTMA?
As noted above, there is no prescribed...
Energy
PRACTICE NOTES
Corporate PPAs in Great Britain: structuring offsite sleeved and virtual arrangements, supplier involvement, pricing, and allocation of ROCs and Guarantees of Origin
What is a Corporate PPA?
A corporate power purchase agreement (PPA) is a contract through which a corporate entity buys electricity—most often renewable power—from an electricity generator for consumption in its own business.
For the purposes of this Practice Note, we assume the corporate buyer is not located on the same site as the generator.
For arrangements involving co-located buyers supplied via private wire, see: Precedents: Power purchase agreement (PPA)—exempt power supply and Connection agreement for private wires.
Corporate PPAs generally follow two principal structures, outlined below.
Both are more intricate than the 'classic' PPA, which is a single agreement under which a generator sells all output from its generating station, plus associated benefits, to a licensed electricity supplier (see Practice Note: Power purchase agreements (PPAs)—key terms and issues).
The extra complexity stems from the need to bring a licensed supplier—alongside the generator and the corporate buyer—into the contractual framework.
This requirement exists because the corporate buyer will not possess the necessary rights for electricity to be transported from the generating station across the grid to...
Energy
PRACTICE NOTES
Great Britain electricity and gas trading: overview of GTMA, NBP and Beach Terms, EFET/ISDA alternatives and typical users
Energy Trading in Great Britain
Electricity and gas in Great Britain are exchanged on bilateral markets. There is no mandated template for transactions. Yet two principal agreements have emerged as the recognised standard forms for electricity and gas trading—the Grid Trade Master Agreement (GTMA) for electricity, and the Short Term Flat NBP Trading Terms and Conditions 2015 (NBP Terms) for gas. For gas, the Standard Terms and Conditions for the Sale and Purchase of Natural Gas for UK Short Term Deliveries at the Beach 2015 (Beach Terms) also cater for deals where delivery occurs at one of the National Transmission System’s entry terminals (commonly referred to as the ‘beach’). This contrasts with the NBP Terms, which facilitate trading at the National Balancing Point, a notional delivery location on the National Transmission System. The GTMA, NBP Terms and Beach Terms can operate as standalone contracts, but they may equally be adopted, with amendments, as an annex to a master trading framework such as the European Federation of Energy Traders (EFET) General Agreements or the International Swaps and Derivatives Association (ISDA) Master Agreement. Each document may stand alone or be incorporated, in modified form, as an annex under EFET General Agreements or the ISDA Master Agreement too...
Energy
PRACTICE NOTES
Grid Trade Master Agreement (Great Britain): legal practitioners’ overview of structure, key provisions, trading mechanics and alternatives
What is a GTMA?
Electricity in Great Britain (GB) is exchanged via a bilateral marketplace. No fixed template is mandated for trades. Nevertheless, the Grid Trade Master Agreement (GTMA) has become the recognised standard contract for power trading, and is extensively adopted by generators, suppliers and traders to record a bilateral deal for the sale and purchase of electricity. For broader background on the structure of the GB power market, see Practice Note: The Great Britain electricity market—an introduction. First issued in 2001 by the Futures and Options Association (now absorbed into the global Futures Industry Association (FIA)), the GTMA was designed for use following the launch of the New Energy Trading Arrangements (NETA) (which, in 2005, gave way to the British Electricity Trading and Transmission Arrangements (BETTA)). The GTMA was updated in 2004, and the majority now transact under this revised form. The FIA makes the 2004 update publicly accessible: Grid Trade Master Agreement, 2004. Trading under a GTMA may occur up to one hour before the start of the relevant half-hour Settlement Period in which electricity is to be delivered. After this cut-off, further trading must be arranged for later periods, in accordance with contractual procedures thereafter only...
Energy
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