OpenLegislation

Paragraph 9 Meaning of “low carbon hydrogen strike price”

Original text. Later amendments are not shown.

(1)

This paragraph only applies in a case where, pursuant to a hydrogen production revenue support contract, the facility producing the hydrogen involves the capture and storage of carbon dioxide.

(2)

The hydrogen production counterparty must enter onto the register—

(a)

the gas reference price (or the source of the gas reference price);

(b)

the natural gas multiplier; and

(c)

the non-gas strike price.

(3)

In this paragraph—

  • “gas reference price” means the price of feedstock used in the calculation of the low carbon hydrogen strike price as set by, or determined pursuant to, the hydrogen production revenue support contract;

  • “natural gas multiplier” means the multiplier as set by, or determined pursuant to, the hydrogen production revenue support contract which is to be applied to the gas reference price in the process of calculating the low carbon hydrogen strike price; and

  • “non-gas strike price” is the price arrived at by deducting from the low carbon hydrogen strike price the product of the calculation of the gas reference price multiplied by the natural gas multiplier.