The following Energy practice note Produced in partnership with Dentons UKMEA LLP provides comprehensive and up to date legal information covering:
Author: James Todd. With thanks to David Cruickshank and Jamie Dunne
The purpose of this Practice Note is to:
introduce the ‘gas peaking’ projects becoming increasingly prevalent in the Great Britain (GB) electricity generation market, and
set out the key subsidy/support regimes that are making such projects attractive to developers and, where appropriately structured, suitable for project financing
For those interested in the key project issues relevant to the project financing of gas peaking projects, this Practice Note should be read in tandem with Practice Note: Gas peaking projects—key project issues relevant to project financing.
Peaking technology has been common in the electricity industry and, in broad terms, simply refers to any form of technology which generates electricity at times of peak demand or when there is scarcity of supply.
This note is of particular relevance to sub-20 megawatt electric (MWe) gas peaking plants in GB, which have become increasingly prolific in the last two to three years. These will typically generate and export at times of peak demand, particularly in late-afternoon to mid-evening during the winter months (typically 4 pm–8 pm).
The increasing prevalence of these projects has coincided with and been promoted by (i) the wider availability of new, efficient engines which emit less noise and air pollution and, importantly, which take up less space; and (ii) the availability of a stable revenue stream
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