What is a power purchase agreement? A power purchase agreement (PPA) is a contract between an electricity generator (generator) and the party who is purchasing the power (offtaker) which incorporates the commercial terms for the sale and purchase of electricity for a generation project. For details of our full suite of resources and precedents on power purchase, see: Power purchase agreements and routes to market—overview. The PPA provides a route to market for the electricity generated by the generator and, in the case of renewable energy generating stations, any green benefits that the generator receives for generating electricity from renewable sources and that may be sold to electricity suppliers. The PPA is the contract pursuant to which a large proportion (if not all) of a project's revenues are earned and consequently the PPA underpins the economics of most power projects. The majority of PPAs will contain provisions dealing with the following issues: • commencement and term • sale of power • sale and transfer of any green benefits (for projects generating electricity from renewable

In Icarus (Hertford) Limited v Driscoll, the High Court held that the power to augment members benefits on winding up was a fiduciary power and must be exercised as such.

1 Money for the time being subject to this trust and requiring investment shall be invested in the purchase or acquisition

There is very little statutory guidance on modifications to company voluntary arrangements (CVAs) and how to deal with them. Some guidance is given by Statements of Insolvency Practice (SIP) 3.2. Modifications to the CVA proposal are permitted, provided that they do not: • alter the CVA so drastically that it ceases to be a CVA at all (eg a modification to force the company to enter administration would not be allowed) • modify, reduce or change the rights of a secured creditor to enforce its security (without that creditor’s express consent) • change the order of payment of creditors such that any preferential creditor no longer has priority over non-preferential creditors (without that creditor’s express consent) • disturb the principle that all preferential creditors rank pari passu for dividends (without the disadvantaged creditor’s express consent) Modifications to the rights of preferential creditors cannot be accepted simply where a majority of the preferential creditors agree to them. Each affected preferential creditor must consent. Modifications may be suggested by creditors

Energy analysis: Powerful changes lie ahead in Great Britain (GB)’s energy industry, following the government’s publication of the Review of Electricity Market Arrangements (REMA) Summer Update on 10 July 2025 (REMA Summer Update). The REMA Summer Update announced the retention of a single GB-wide wholesale market, along with a raft of reforms to boost the efficiency of the future power system.

FORTHCOMING CHANGE: The Trusts and Succession (Scotland) Act 2024 received Royal Assent on 30 January 2024, marking the first review of trusts law in Scotland in over 100 years since the principal legislation, the Trusts (Scotland) Act 1921, was passed. The trusts provisions require secondary legislation from Scottish Ministers to be brought into force whereas some provisions relating to succession law came into effect on 30 April 2024. The main changes to modernise the law are summarised in News Analysis: Trusts and Succession (Scotland) Bill passed. Practice Notes on areas of Scottish trusts and succession law will be updated further to reflect this new legislation. It is worth noting at the outset that powers will enable trustees to act and give effect to the trust purposes whereas duties will compel trustees to meet an obligation. Source of trustees' powers Trustees' powers are derived from a combination of current law and the applicable deed of trust. Trustees' powers flow from a composite of legislative enactments incorporating the Trusts (Scotland) Act 1921

In Davis v Richards & Wallington Industries, the case involved the power of a company to remove a trustee under an interim deed constituting a pension scheme for its employees. The court held that powers of amendment and removal may be included in a pension deed by way of necessary implication.

Commercial lawyers will regularly come across situations where third parties are executing documents as an attorney on behalf of another person and may be required to put in place a power of attorney to cover the absence of an authorised signatory or to facilitate the contracting process by delegating authority to enter into contracts to managers or authorised agents. This Practice Note provides practical guidance on how to grant powers of attorney, the different types of power of attorney that can be granted, and when they are likely to be used in commercial transactions. We have produced a collection that is a comprehensive, interactive resource to help users identify and work through the concepts and common issues when executing documents. Each section or phase includes practical guidance, precedent clauses and Q&As relevant to that section. For more information, see: Execution collection. This Practice Note provides information and guidance in connection with the following: • characteristics of a power of attorney • who can grant powers of attorney • different types of powers of attorney • who can act

FORTHCOMING CHANGE: Further to the Government's response to the Ministry of Justice’s and Office of the Public Guardian (OPG)’s consultation Modernising Lasting Powers of Attorney, the Powers of Attorney Bill received Royal Assent on 18 September 2023, becoming the Powers of Attorney Act 2023 (PAA 2023). When it comes into force, PAA 2023 will introduce changes to the Mental Capacity Act 2005 (MCA 2005) to create a more modern lasting power of attorney (LPA) service. The changes will include: (i) introducing regulations to allow those involved in making an LPA to select whether to sign the LPA digitally or on paper; (ii) removing the ability for attorneys to register an LPA so that only the donor will be permitted to register; (iii) introducing regulations governing identification verification requirements in relation to registration applications; (iv) providing for a single route for registration objections to the OPG and widening the group of people who can lodge an objection to include third parties and not just those named in the LPA; and (v) making the notification of named

This Practice Note summarises the nature and extent of a director’s powers to manage a company conferred by a company’s articles of association, the Companies Act 2006 (CA 2006), common law and shareholder resolutions. It also considers the limitations on directors’ powers and the delegation of directors’ powers to committees, individuals and others. The directors of a company are responsible for the day-to-day management of that company. The directors make decisions on behalf of the company in order that it can carry on its business, including making decisions relating to the company: • raising funds • entering into contracts • purchasing or renting premises • acquiring stock or equipment, and • employing people For details on decision making by directors, and the processes and procedures typically involved, see Practice Notes: • Directors’ decision-making—power, authority and duties • Directors’ decision-making—convening board meetings • Directors’ decision-making—conduct at board meetings • Directors’ decision-making—post board meeting formalities • Directors’ decision-making—written resolutions and decisions by sole directors Where do the directors’ powers come from? The directors are empowered to act on the company’s behalf by:

The Health and Safety Executive The Health and Safety Executive (HSE) is a non-Departmental Body of the Department of Work and Pensions and is the main regulator for health and safety offences. It cooperates with the Crown Prosecution Service (CPS) and the police under the work related deaths protocol in cases of manslaughter and corporate manslaughter. See Practice Note: Corporate manslaughter—an introductory guide. The HSE is established by section 10 of the Health and Safety at Work etc. Act 1974 (as amended) (HSWA 1974) in order to support the aim of health and safety at work through research, through the provision of training and information and through enforcement. Basis of the HSE’s statutory powers The HSE’s powers and duties stem from a range of statutes and statutory instruments. A non-exhaustive list of these include: • HSWA 1974, ss 11, 13, 14, 16, 18, 19, 26, 27, 50, 55, 56, 57, 59 and Schedule 2 (and subordinate legislation made under that Act)

The Investigatory Powers Act 2016 (IPA 2016) overhauls the legal framework governing the use of covert surveillance by public bodies, a framework which is largely, but not exclusively, set out by the Regulation of Investigatory Powers Act 2000 (RIPA 2000). This Checklist sets out the public authorities which have the power to apply for an authorisation to obtain communications data under IPA 2016, Pt 3. Authorisations to obtain communications data can be granted only if specified conditions apply by either the Investigatory Powers Commissioner under IPA 2016, s 60A, by designated senior officers under IPA 2016, s 61 or by designated senior officers in urgent cases under IPA 2016, s 61A. In practice, this power is carried out on behalf of the Commissioner by the Office for Communications Data Authorisations. The table below sets out the public authorities who are able to apply to obtain communications data, what type of communications data they can apply for as well as the purposes for which they can obtain such data, either