Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Agreement definition

What does Agreement mean? In competition law practice, an agreement is any form of coordination between undertakings that shows a meeting of minds about market conduct (for example pricing, output, customers or territories). It is not limited to a legally enforceable contract: it includes informal or “gentlemen’s” understandings, oral arrangements, email exchanges and tacit understandings, and extends to decisions of associations of undertakings. Mere parallel conduct is insufficient without evidence of contact or communication. The term is used in legislation and developed by case law: Article 101 TFEU, section 4 of Ireland’s Competition Act 2002, and the UK Chapter I prohibition in the Competition...

Drafting and negotiating UK PPAs: pricing, renewable benefits, forecasting, change in law, credit support, force majeure, extensions and project finance requirements

Published by a LexisNexis Energy expert

Practice notes

What is a power purchase Agreement?

A power purchase agreement (PPA) is a Contract between an electricity producer (generator) and the buyer of that electricity (offtaker) that sets out the commercial Terms governing the sale and purchase of power from a generation project. For our comprehensive suite of resources and precedents on power purchase, see: Power purchase agreements and routes to market—overview. A PPA offers a route to market for electricity produced by the generator and, for renewable generating stations, any green benefits the generator receives for producing electricity from renewable sources, which may be sold on to electricity suppliers. It is the agreement under which a significant share (if not all) of a project’s revenues are earned and, as a result, the PPA supports the economics of most power projects. Most PPAs include provisions addressing the following matters:

commencement and term
sale of power
sale and transfer of any green benefits (for projects generating electricity from renewable sources)
credit for embedded benefits (where the plant is connected to a distribution network)
connection and metering arrangements
forecasting, maintenance and outages

These clauses are standard across PPAs and frame how projects sell power and related benefits to the market in practice...

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Web page updated on 21/05/2026

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