CfD meaning

In this issue: Air emissions and climate change Energy efficiency of products Energy for environmental lawyers ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Daily and weekly news alerts New and updated content Air emissions and climate change Defra opens consultation on industrial emissions permitting reforms The Department for Environment, Food and Rural Affairs (Defra) has begun consulting on plans to modernise England’s environmental permitting regime for industrial emissions. The package aims to foster innovation, adopt agile standards, secure proportionate and coherent regulation, boost regulator effectiveness and efficiency, and deliver a transparent system. Suggested measures include a new registration route for low-risk installations, flexible site permits setting overall emissions caps, and faster approvals for time‑limited technology trials. The proposals reflect the Corry Review’s critique of regulatory inefficiency. The Environment Agency intends to roll out changes that could cut permit queues from months to days and lower...

In this issue: Electricity and gas market regulation and licensing Networks and grid connections Renewable energy Capacity Market, balancing services and system flexibility Air emissions, efficiency and climate change International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers Energy resources on Lexis+® Electricity and gas market regulation and licensing DESNZ has opened a consultation to strengthen Energy Ombudsman (EO) powers. It will concentrate on complaints from domestic energy suppliers, small enterprise complaints against non-domestic suppliers, and heat network complaints. Electricity and gas networks and third-party intermediaries will instead be consulted on separately. The plans include shortening the escalation period for complaints from eight to four weeks, allowing automatic compensation where EO decisions are not put into effect promptly, and granting the EO a statutory designation. DESNZ has also stated that Ofgem will regulate third‑party intermediaries, including energy brokers and price comparison sites, which have previously operated...

In this issue: Key developments and materials Electricity and gas market regulation and licensing Renewable energy Conventional power, waste to energy, biomass, and CHP projects International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers New Q&As Key developments and materials DBT publishes UK’s critical mineral strategy The Department for Business and Trade (DBT) has released a suite of resources setting out the government’s plan to secure supplies of critical minerals for UK industry and energy security. The Resilience for the Future policy paper explains that the UK will speed up growth of domestic capability, work with international partners, and strengthen global markets so they are more responsive, transparent, and responsible. See: LNB News 10/05/2024 31. Electricity and gas market regulation and licensing Ofgem launches BAT consultation Ofgem has opened a consultation on lifting the current prohibition on acquisition-only tariffs (BAT). The ban was...

ARCHIVED: This Practice Note has been archived and is not maintained. How are contracts for difference (CfD) and the renewables obligation (RO) connected? The renewables obligation (RO) is designed to stimulate investment in renewable generation. It achieves this by placing a duty on customer-facing electricity suppliers—who obtain electricity from generators, whether directly or indirectly—to procure an ever-increasing share of their wholesale supply from renewable sources. The Secretary of State (SoS) for Business, Energy and Industrial Strategy (BEIS) determines the proportion required each period. Suppliers prove compliance by submitting renewable obligation certificates (ROCs) to the Office of Gas and Electricity Markets (Ofgem). New ROCs are issued solely to accredited renewable generators, encouraging suppliers to purchase renewable output (together with separately priced ROCs) from such projects, thereby delivering a degree of financial support to those developments. For further details, see Practice Note: Renewables Obligation (RO)—accreditation of renewable electricity generators [Archived]. On 31 March 2017, the RO closed to most categories of new generation. The RO will continue to...

Brexit impact From 31 January 2020 (exit day), the UK ceased to be an EU Member State. However, an implementation period followed, during which the EU continued to treat the UK as a Member State for many purposes. At 11 pm (GMT) on 31 December 2020, the Brexit transition/implementation period concluded. That moment—termed ‘IP completion day’ in UK law—brought transitional arrangements to a close and triggered significant changes across the UK’s legal framework. Any changes relevant to this content are noted below. On IP completion day, the European Union (Withdrawal) Act 2018 (EU(W)A 2018) established a new class of domestic law—retained EU law (REUL)—comprising EU‑derived rights and legislation preserved in the UK after Brexit. On 29 June 2023, the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) received Royal Assent. REUL(RR)A 2023 alters the treatment of REUL by: revoking large volumes of REUL with effect from 31 December 2023 rebranding REUL as ‘assimilated law’ from 1 January 2024 introducing new powers...

This Practice Note sets out the applicable product governance obligations under the Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) that firms must observe and comply with when designing, approving, marketing and overseeing the ongoing management of products throughout their entire lifecycle. It also summarises the relevant delegated acts adopted by the European Commission—particularly Articles 9 and 10 of Directive (EU) 2017/593 (the MiFID II Delegated Directive)—as well as the guidelines issued by the European Securities and Markets Authority (ESMA). Background to MiFID II and product governance The recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II), together with the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR) (collectively, the MiFID II framework), entered into force on 2 July 2014. The bulk of the framework’s provisions largely applied from 3 January 2018. MiFID II establishes a suite of product governance requirements so that firms manufacture and distribute products in a manner that ensures they act in clients’ best interests across every stage of the lifecycle...