Section 71 Payments to relevant market participantsI1

United Kingdom

(1)

Revenue support regulations may make provision about amounts which must be paid—

(a)

by a hydrogen levy administrator to relevant market participants, or

(b)

by a relevant counterparty—

(i)

to relevant market participants, or

(ii)

to a hydrogen levy administrator for the purpose of enabling payments to be made to relevant market participants.

(2)

Regulations by virtue of subsection (1) may make provision—

(a)

for a hydrogen levy administrator to calculate or determine, in accordance with such criteria as may be provided for by or under the regulations, amounts which are owed by—

(i)

the hydrogen levy administrator, or

(ii)

a relevant counterparty;

(b)

for a relevant counterparty to calculate or determine, in accordance with such criteria as may be provided for by or under the regulations, amounts which are owed by—

(i)

the relevant counterparty, or

(ii)

a hydrogen levy administrator;

(c)

for the issuing of notices by a hydrogen levy administrator to require the payment by a relevant counterparty of amounts calculated or determined by the hydrogen levy administrator in accordance with paragraph (a)(ii);

(d)

for the issuing of notices by a relevant counterparty to require the payment by a hydrogen levy administrator of amounts calculated or determined by the relevant counterparty in accordance with paragraph (b)(ii);

(e)

for the provision of copies of notices such as are mentioned in paragraph (c) or (d) to persons specified in the regulations, or the publication of such notices.

(3)

Revenue support regulations may make provision imposing on a relevant market participant who receives a payment from a hydrogen levy administrator or a relevant counterparty a requirement to secure that customers of the relevant market participant receive, by a time specified in the regulations, such benefit from the payment as may be specified in or determined in accordance with the regulations.

(4)

In this section “relevant counterparty” means any of the following—

(a)

a hydrogen transport counterparty;

(b)

a hydrogen storage counterparty;

(c)

a hydrogen production counterparty.

Annotations

Commencement

I1: S. 71 in force at 26.12.2023, see s. 334(3)(b)