SCHEDULES

SCHEDULE 8U.K.Venture capital schemes

Subsidised generation or export of electricityU.K.

12U.K.After section 309 insert—

“309AExcluded activities: subsidised generation or export of electricity

(1)This section supplements section 303(1)(ka).

(2)Electricity is exported if it is exported onto a distribution system or transmission system (within the meaning of section 4 of the Electricity Act 1989).

(3)The generation of electricity is “subsidised” if a person receives a FIT subsidy in respect of the electricity generated.

(4)The export of electricity is “subsidised” if a person receives a FIT subsidy in respect of the electricity exported.

(5)But the generation or export of electricity is not to be taken to fall within section 303(1)(ka) if Condition A, B or C is met.

(6)Condition A is that the generation or export is carried on by—

(a)a community interest company,

(b)a co-operative society,

(c)a community benefit society, or

(d)a NI industrial and provident society.

(7)Condition B is that the plant used to generate the electricity relies wholly or mainly on anaerobic digestion.

(8)Condition C is that the electricity is hydroelectric power.

(9)For the purposes of this section—

  • “anaerobic digestion” means the bacterial fermentation of organic material in the absence of free oxygen (excluding anaerobic digestion of sewage or material in a landfill);

  • “community benefit society” means—

    (a)

    a society registered under the Co-operative and Community Benefit Societies and Credit Unions Act 1965 as a community benefit society, or

    (b)

    a pre-2010 Act society (as defined at section 4A(1) of that Act) which meets the condition in section 1(3) of that Act;

  • “co-operative society” means—

    (a)

    a society registered under the Co-operative and Community Benefit Societies and Credit Unions Act 1965 as a co-operative society, or

    (b)

    a pre-2010 Act society (as defined at section 4A(1) of that Act) which meets the condition in section 1(2) of that Act;

  • “FIT subsidy” means—

    (a)

    a financial incentive under a scheme established by virtue of section 41 of the Energy Act 2008 (powers to amend licence conditions etc: feed-in tariffs) to encourage small-scale low-carbon generation of electricity, or

    (b)

    a financial incentive under a similar scheme established in a territory outside the United Kingdom to encourage small-scale low-carbon generation of electricity;

  • “NI industrial and provident society” means a society registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24 (N.I.));

  • “small-scale low-carbon generation” has the meaning given by section 41(4) of the Energy Act 2008.”