Section 154: Financial provisions
651.This section makes provision about expenditure, or increase in expenditure, as a result of the Act. Subsection (2) is a spending authorisation and contains specific examples of where the Secretary of State may incur expenditure:
by setting up a CFD counterparty;
by making payments or providing financial assistance (grants, loans, guarantees, indemnities, etc) to a CFD counterparty;
in obtaining advice and assistance in respect of CFD and capacity market arrangements;
by making payments or providing financial assistance to a capacity market settlement body;
by making payments or providing financial assistance to the national system operator , a person or body on whom a function is conferred by section 35 or an alternative delivery body in connection with EMR functions (see section 46) i.e. for the CFD or capacity market regimes or for an electricity demand reduction regime.
652.Subsection (3) allows the Secretary of State to make payments and financial assistance subject to conditions, including repayment conditions.