Reduction of non-domestic energy bills in Northern Ireland

Reduced energy charges for non-domestic customers in Northern Ireland
11
1
The Secretary of State may, by regulations, make provision for and in connection with—
a
reducing the amounts that would otherwise be charged for NI non-domestic electricity supply by licensed electricity suppliers, and
b
making payments to those suppliers in respect of those reductions.
2
The Secretary of State may, by regulations, make provision for and in connection with—
a
reducing the amounts that would otherwise be charged for NI non-domestic gas supply by licensed gas suppliers, and
b
making payments to those suppliers in respect of those reductions.
3
Regulations under this section may, in particular, provide for reductions in amounts charged to be calculated by reference to the difference between—
a
the wholesale price paid for electricity or gas, as a component of the amounts that would otherwise be charged for the supply of electricity or gas, and
b
a notional wholesale price, if it is lower than the wholesale price paid.
4
If the regulations make such provision, they may in particular—
a
provide—
i
for the wholesale price paid to be the actual wholesale price paid or a wholesale price treated as paid;
ii
for that wholesale price to be specified in or under the regulations, or determined in accordance with the regulations;
b
provide for the notional wholesale price to be specified in or under the regulations, or determined in accordance with the regulations.
5
The Secretary of State may review the operation of regulations under this section.
6
Regulations under this section are subject to the affirmative procedure.
7
Schedule 2 describes particular kinds of provision that may be made by regulations under this section.
8
For provision about time limits on the exercise of the powers conferred by this section, see Schedule 6.
S. 11 in force at Royal Assent, see s. 30(6)