Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Fluctuations definition

What does Fluctuations mean? In construction procurement, fluctuations describes contractual mechanisms that adjust the contract sum to reflect changes in the cost of labour, materials and related inputs between the tender or base date and when the work is actually carried out. It is a descriptive term rather than one defined in legislation, and is widely used across standard forms. Typical features include: identification of a base date; the scope of recoverable cost movements (for example labour rates, materials, fuel, taxes or duties); the method of adjustment (proved cost, agreed indices or formulae); and timing and evidential requirements. Fluctuation provisions allocate inflation and...

Corporate PPAs in Great Britain: structuring offsite sleeved and virtual arrangements, supplier involvement, pricing, and allocation of ROCs and Guarantees of Origin

Published by a LexisNexis Energy expert

Practice notes

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...

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James Stanier

Gowling WLG

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...

Web page updated on 21/05/2026

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