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GLOSSARY

CfD definition

Published by a LexisNexis Energy expert

What does CfD mean?

Contract for Difference: A commercial arrangement between the UK Government and low carbon generators to set the strike price for electricity generated by the new nuclear and other low-carbon generation facilities. They take the form of a pre-agreed per MWh price, when the market price is below this the Government will top up the price to that agreed strike price, when the market price is above that strike price the generator will pay the difference to the Government. The payments will be made through the CfD Counterparty Company. The agreement provides long term revenue stabilisation for low carbon generation.

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UK MiFID II regime—timeline

UK MiFID II regime—timeline This timeline shows key developments relating to the UK provisions which implemented the recast Markets in Financial Instruments Directive 2014/65/EU (MiFID II) and Assimilated Regulation (EU) 600/2014 (UK MiFIR) (together, the UK's MiFID II framework). For earlier developments, see: Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR)—timeline (2007–2023) [Archived]. For key developments relating to the EU’s MiFID II framework, see: EU Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR)—timeline. 2025 Date Source Document Description 9 May 2025 FCA FCA enhances access to investment researchPS25/4: Investment research payment optionality for fund managers The Financial Conduct Authority (FCA) has published policy statement PS25/4, finalising new rules to refine the investment research market by allowing fund managers to combine research and execution costs under a joint payment option, subject to defined guardrails. These changes implement recommendations from the 2023 UK Investment Research Review and feedback from consultation paper CP24/21. As the adoption of the joint payment...

Renewable Heat Incentive—checklist on issues in property transactions

Renewable Heat Incentive—checklist on issues in property transactions Renewable heat incentive (RHI) The RHI, which applies to Great Britain, is a government scheme that provides financial incentives to increase the uptake of renewable heat and biomethane. These financial incentives are provided to help remove some of the barriers to adoption, such as high up-front costs and operational expenditure. The RHI scheme was split into two phases: • phase 1, which was introduced in November 2011 for non-domestic installations in the industrial, business and public sectors. The non-domestic RHI closed to new applicants on 31 March 2021 • phase 2, for the domestic RHI (previously covered by the Renewable Heat Premium Payment), which was rolled out in April 2014. The domestic RHI closed to new applicants on 31 March 2022 Although each of the non-domestic and domestic RHI schemes have now closed to new applicants, those accredited prior to closure may still be in receipt of payments under the scheme. The non-domestic RHI was originally put in place pursuant to the Renewable Heat Incentive Scheme Regulations 2011 (2011...

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Energy legislation tracker 2025

Energy legislation tracker 2025 This Energy legislation tracker tool displays key upcoming legislation of interest to Energy lawyers from 1 January 2025. Legislation will be displayed in reverse chronological order. Legislation that is only applicable to Wales (Wales Statutory Instruments—Wales SI) will be indicated as such on the tracker. For information on previous legislation trackers, see: • Energy legislation tracker 2024 • Energy legislation tracker 2023 [Archived] • Energy legislation tracker 2022 • Energy legislation tracker 2021 [Archived] • Energy legislation tracker 2020 [Archived] • Energy legislation tracker 2019 [Archived] • Energy legislation tracker 2018 [Archived] • Energy legislation tracker 2017 [Archived] • Energy legislation tracker 2016 [Archived] England and Wales Title Key date Details Brexit-related Environmental Permitting (Electricity Generating Stations) (Amendment) Regulations 2025 28 February 2026–comes into force SI 2025/154: These Regulations are made to amend the Environmental Permitting (England and Wales) Regulations 2016, SI 2016/1154 to introduce a new requirement for new and substantially refurbishing combustion plants to include a ‘decarbonisation readiness report’ as part of their environmental permitting...

Renewables Obligation (RO)—accreditation of renewable electricity generators [Archived]

Renewables Obligation (RO)—accreditation of renewable electricity generators [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. Why do generators needed to be accredited? The Renewables Obligation (RO) supports investment in renewable generation projects. It does this by placing customer-facing electricity suppliers—who (directly or indirectly) purchase their electricity from generators—under an obligation to source an increasing proportion of their wholesale electricity from renewable sources. The required proportion is set by the Secretary of State (SoS) for Business, Energy and Industrial Strategy (BEIS). The supplier evidences its purchases of renewable electricity by the submission of ‘Renewable Obligation Certificates’ (ROCs) to the Office of Gas and Electricity Markets (Ofgem). Electricity suppliers are required to evidence their purchases of renewable energy by submitting ROCs to Ofgem. New ROCs are only issued to accredited renewable generators in order to incentivise suppliers to buy their renewable energy (and accompanying, separately priced ROCs) from renewable projects, thus providing those projects with an element of financial support. The RO is primarily provided for...

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Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template

Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template PROJECT DETAILS PROJECT NAME: [insert name of project] CLIENT: [insert name of client] [Insert name of firm] PROJECT LEAD: [insert name of client/lead partner] PROJECT PARTIES PROJECT PARTY DETAILS Account Bank(s) [insert name of Account Bank] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Account Bank] Agent [insert name of Agent] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Agent] Architect [insert name of Architect] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Architect] Arrangers [insert name of Arrangers] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Arrangers] Civil Design Consultant [insert name of Civil Design Consultant] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Civil Design Consultant] Construction Contractor [insert name of Construction Contractor] (Company Registration No. [insert number]) whose registered office is...

Project lawyers’ completion documents list—waste to energy projects (merchant)—template

Project lawyers’ completion documents list—waste to energy projects (merchant)—template PROJECT DETAILS PROJECT NAME: [insert name of project] CLIENT: [insert name of client] [Insert name of firm] PROJECT LEAD: [insert name of client/lead partner] PROJECT PARTIES PROJECT PARTY DETAILS Account Bank(s) [insert name of Account Bank] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Account Bank] Agent [insert name of Agent] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Agent] Architect [insert name of Architect] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Architect] Arrangers [insert name of Arrangers] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Arrangers] Construction Contractor [insert name of Construction Contractor] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Construction Contractor] Construction Contractor Parent Company [insert name of Construction Contractor Parent Company] (Company Registration No. [insert number]) whose registered office is at...

Dive into our 2 Precedents related to CfD

Do the new Contracts for Difference (CfD) Terms and Conditions (version: 2, 13 March 2017), published pursuant to the Contracts for Difference (Standard Terms) (Amendment) Regulations 2017, SI 2017/112 apply only to CfD Agreements awarded after the entry into force of the new Regulations (ie 1 March 2017)?

Do the new Contracts for Difference (CfD) Terms and Conditions (version: 2, 13 March 2017), published pursuant to the Contracts for Difference (Standard Terms) (Amendment) Regulations 2017, SI 2017/112 apply only to CfD Agreements awarded after the entry into force of the new Regulations (ie 1 March 2017)? We assume you are referring to the FiT Contract for Difference Standard Terms and Conditions (version: 2, 13 March 2017) and, where you refer to CfD Agreements entered into prior to 1 March 2017, you refer to CfD Agreements awarded pursuant to the first CfD allocation round under the FiT Contract for Difference Standard Terms and Conditions (version: 1, 29 August 2014). Generators who are allocated a CfD will sign a CfD Agreement, which then incorporate a set of standard CfD terms and conditions, together forming the ‘CfD Contract’. The FiT Contract for Difference Standard Terms and Conditions (version: 2, 13 March 2017) (the ‘New CfD Standard Terms and Conditions’) were published pursuant to the Contracts for Difference (Standard Terms)...

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Environment weekly highlights—12 June 2025

This week's edition of Environment weekly highlights includes: news analysis on the Department for Environment, Food and Rural Affairs (Defra)'s consultation aiming to refine the biodiversity net gain (BNG) framework to better accommodate minor, medium, and brownfield developments. In addition this week, Defra has announced plans to introduce a Bill by the end of 2025 to enable the UK's ratification of the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement, also known as the High Seas Treaty, the Office for Environmental Protection (OEP) has filed its written submissions in the appeal of R (Rights Community Action Ltd) and has found potential breaches of environmental law on wild bird protection by Defra and Natural England, and Defra has announced that new provisions under the Water (Special Measures) Act 2025 (W(SM)A 2025) have come into effect, banning bonus payments for senior executives at six water companies.

Energy weekly highlights—12 June 2025

This week's edition of Energy weekly highlights includes coverage of important nuclear energy announcements by the Department for Energy Security and Net Zero (DESNZ) and HM Treasury (HMT), with: (1) £14.2bn being invested by government towards the construction of Sizewell C; and (2) the selection of Rolls-Royce SMR Ltd as the preferred bidder to partner with Great British Energy - Nuclear (GBE-N) (formerly Great British Nuclear) to develop the UK's first fleet of nuclear small modular reactors (SMRs). We also cover a section 35 direction, issued by the Secretary of State (SoS) pursuant to under the Planning Act 2008 (PA 2008), for the Humber Hydrogen Pipeline project, confirming that this early hydrogen transport project will be consented through the Development Consent Order (DCO) route. In addition this week, the National Energy System Operator (NESO) published its timeline for implementing the TMO4+ grid connections reform process across 2025–26, aimed at providing developers with greater clarity on the forthcoming timetable. Finally, we have published a News Analysis on the key energy and...

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