Part 2Carbon dioxide capture, storage etc and hydrogen production, transport and storage

Chapter 1Revenue support contracts

Hydrogen levy

I171Payments to relevant market participants

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.