Examples of CCUS Programme in a sentence
The GGR Agreement may adopt the amendments made to the AR5 CfD provisions in the CCUS Programme Contracts to reflect particular carve- outs to the no cumulation of subsidy position, provided that support is not given for the same Project costs.
This includes developing the approach to 'partial outages' and its alignment with the GGR payment mechanism, having regard to the approach under the CCUS Programme Contracts.
As with the AR5 CfD and other CCUS Programme Contracts, such protection will not apply where the relevant event is caused by the Developer's fault or negligence, or where the relevant event occurred before the Agreement Date.
The support would be provided as a separate payment to the Developer from the GGR Counterparty, so that such charges may be passed through to the relevant CO2 T&S Operator, which reflects the approach in other CCUS Programme Contracts.
The confidentiality provisions in the GGR Agreement are likely to be based on the AR5 CfD and the CCUS Programme Contracts, and will reflect the principle that no provision of the GGR Agreement will be considered to be confidential, and thus either Party will be free to disclose any such provision.
The GGR Agreement is likely to follow the provisions of the AR5 CfD and other CCUS Programme Contracts, whereby the Developer will be entitled to day-for-day extensions of time (pre-Start Date) and relief from performance of its GGR Agreement obligations where a Force Majeure event occurs which is beyond the Developer's control and which could not have been reasonably avoided or overcome by the Developer.
Procedure The GGR Agreement is likely to follow the dispute resolution procedure detailed in the AR5 CfD and the CCUS Programme Contracts, with disputes escalated to a meeting of senior representatives followed by final resolution by expert determination or arbitration.
Contract Structure The contract structure of the GGR Agreement will likely follow the AR5 CfD and the CCUS Programme Contracts, where each agreement comprises two instruments: (i) the front end agreement; and (ii) the standard terms and conditions.
In developing its approach, DESNZ will have regard to the approaches taken under the CCUS Programme Contracts.
This reflects: (i) a balance between providing price support certainty for Developers for a proportionate and reasonable period, whilst ensuring policy is flexible to technological innovation; (ii) the potential time for the negative emissions market to develop; and (iii) the general precedents set by the AR5 CfD and the CCUS Programme Contracts.