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Energy Act 2013

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This is the original version (as it was originally enacted).

154Financial provisions

This section has no associated Explanatory Notes

(1)The following are to be paid out of money provided by Parliament—

(a)any expenditure incurred by the Secretary of State by virtue of this Act;

(b)any expenditure incurred by the Authority by virtue of this Act;

(c)any increase attributable to this Act in the sums payable out of money so provided under any other enactment.

(2)The expenditure referred to in subsection (1)(a) includes expenditure incurred by the Secretary of State for the purposes of, or in connection with—

(a)the establishment of a CFD counterparty;

(b)making payments or providing financial assistance to a CFD counterparty;

(c)obtaining advice and assistance in relation to the exercise of functions conferred on the Secretary of State by or by virtue of Chapter 2 or 3 of Part 2;

(d)making payments or providing financial assistance to a settlement body in relation to capacity agreements (see section 28(4)(g));

(e)making payments or providing financial assistance to the national system operator, a person or body on whom a function is conferred by virtue of section 35 or an alternative delivery body in connection with the exercise of EMR functions.

(3)Financial assistance or payments includes financial assistance or payments given subject to such conditions as may be determined by, or in accordance with arrangements made by, the Secretary of State; and such conditions may in particular in the case of a grant include conditions for repayment in specified circumstances.

(4)In this section—

  • “alternative delivery body” and “EMR functions” have the same meaning as in section 46;

  • “CFD counterparty” and “national system operator” have the same meaning as in Chapter 2 of Part 2;

  • “financial assistance” means grants, loans, guarantees or indemnities, or any other kind of financial assistance.

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