FIT Payments definition

FIT Payments means, as applicable, the Generation Payments and/or Export Payments and paid in accordance with section 3 of this document;
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FIT Payments any payments (including tariffs) payable under the FIT Order and the SLCS in respect of the renewable energy generated by the Equipment (whether exported to the Grid or not). IEE: Institution of Electrical Engineers which forms part of the Institution of Engineering and Technology Grid: the system for transmission of electricity (both local and high voltage) in England and Wales as operated by persons licensed by Ofgem.
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FIT Payments means the Generation Payments and, if applicable, Export Payments;
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Examples of FIT Payments in a sentence

  • If Your System is not connected to the local electricity network, You will not be eligible to receive any FIT Payments for any surplus electricity exported by Your System.

  • Those payments will only recommence when Ofgem instructs Us accordingly and FIT Payments may be reduced on the instructions of Ofgem.

  • Failure to do so could result in non- payment of any FIT Payments.

  • If We overpay any FIT Payments then We may recover the relevant amount from You (whether the FIT Payment has been paid to You or the Nominated Recipient) or off set such amount from any subsequent FIT Payments.

  • If You have an Export Meter, You will only be entitled to receive FIT Payments for electricity exported to the local electricity network if Your Export Meter is capable of isolating the amount of electricity exported by Your System.

  • The person who You have nominated and notified to Us to receive the FIT Payments and who is recorded on the Central FIT Register as the person authorised to receive the FIT Payments.

  • As such We reserve the right to suspend, withhold or recoup any FIT Payments in accordance with Ofgem’s instructions.

  • We can only make FIT Payments to the new Nominated Recipient when Ofgem confirms that the Central FIT Register has been updated with the new Nominated Recipient’s details.

  • This is the maximum period of time during which You will be entitled to receive FIT Payments, which shall be from Your Eligibility Date to Your End Date.

  • It is always Your responsibility to agree ownership of the System and any of the income received from the FIT Payments.


More Definitions of FIT Payments

FIT Payments means, as applicable, the Generation Payments and where applicable Export Payments payable to the Generator by EDF Energy, as calculated pursuant to this Agreement;
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FIT Payments any payments (including tariffs) payable under the FIT Order and the SLCS in respect of the renewable energy generated by the Equipment (whether exported to the Grid or not). Grid: the system for transmission of electricity (both local and high voltage) in England and Wales as operated by persons licensed by Ofgem.
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FIT Payments mean the Generation Payments, Export Payments, or both.
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Related to FIT Payments

  • Debit Payment means a particular transaction where a debit is made.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

  • Payments has the meaning set forth in Section 6.12.1.

  • Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations (“Proposed Regulations”) state that the Internal Revenue Service and the U.S. Treasury have determined, that withholding on “foreign passthru payments” is not required, pending further guidance and analysis. The Proposed Regulations provide that such withholding will not be effective before the date that is two years after the publication of final regulations defining the term “foreign pass-thru payment”.