Contracts For Difference – Modification Of Standard Terms

One of the more common questions that generators and funders have around the new Contract for Difference – the 400-page behemoth that governs the new subsidy regime for large-scale renewables – is: what scope do we have to change the bits of the contract we don't like?

DECC only introduced the concept of amendment to the standard terms late on in the consultation process, and the new draft statutory instrument published on 23 June, The Contracts for Difference (Standard Terms) Regulations 2014, puts more meat on the bone.

The Regulations provide as follows:

• An applicant may apply to the CfD Counterparty for a modification to the standard terms after an allocation round notice has been published, and no later than 20 working days before the application closing date specified in the allocation round notice