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Prepaid Power Purchase Agreement

Prepaid Power Purchase Agreement Template for England and Wales

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Key Requirements PROMPT example:

Prepaid Power Purchase Agreement

"Need a Prepaid Power Purchase Agreement for a 50MW solar farm in Cornwall, with quarterly prepayment structure and delivery starting March 2025, including provisions for renewable energy certificates and grid connection requirements."

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Document background
The Prepaid Power Purchase Agreement is utilized when parties seek to establish a long-term electricity supply arrangement with upfront payment terms. This structure provides generators with immediate capital while giving purchasers price certainty and supply security. Under English and Welsh law, these agreements must comply with the Electricity Act 1989 and subsequent energy legislation, while incorporating necessary consumer protections and regulatory requirements. The document typically includes detailed technical specifications, pricing mechanisms, and delivery terms.
Suggested Sections

1. Parties: Identification and details of the contracting parties including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, project overview, and objectives of the prepaid power purchase arrangement

3. Definitions: Detailed definitions of technical, commercial, and legal terms used throughout the agreement

4. Supply Obligations: Core obligations regarding power supply, delivery points, and supply specifications

5. Payment Terms: Prepayment structure, pricing mechanisms, invoicing, and payment procedures

6. Metering and Recording: Requirements for measuring, recording, and verifying power supply

7. Term and Termination: Agreement duration, renewal provisions, and termination rights

8. Force Majeure: Events constituting force majeure and their consequences

9. Governing Law and Disputes: Applicable law, jurisdiction, and dispute resolution procedures

Optional Sections

1. Green Certificates: Provisions for renewable energy certificates and environmental attributes when power source is renewable

2. Credit Support: Additional financial security arrangements and credit requirements based on assessment

3. Change in Law: Provisions addressing regulatory changes and their impact on long-term agreements

4. Grid Connection: Terms relating to grid connection and compliance when relevant to the project

Suggested Schedules

1. Technical Specifications: Detailed technical requirements, parameters, and performance standards

2. Pricing Schedule: Detailed pricing mechanisms, calculations, and adjustment provisions

3. Metering Specifications: Technical details of metering arrangements and protocols

4. Form of Direct Agreement: Standard form for direct agreements with financiers and relevant third parties

5. Testing and Commissioning Procedures: Requirements and procedures for initial testing and commissioning

6. Operating Procedures: Detailed procedures for day-to-day operations and maintenance

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

















































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Electricity Act 1989: Core legislation governing electricity generation and supply, including licensing requirements, regulatory framework, and OFGEM's powers

Energy Act 2013: Key legislation covering electricity market reforms, capacity market provisions, and Contracts for Difference arrangements

Utilities Act 2000: Legislation governing market competition rules and consumer protection provisions in the utilities sector

Contract Law Framework: Including Contract Act 1999, Sale of Goods Act 1979, and Unfair Contract Terms Act 1977 - fundamental for PPA structuring

OFGEM Regulatory Framework: Regulatory guidelines including license conditions, grid code compliance, and Balancing and Settlement Code requirements

Renewable Energy Regulations: Framework covering REGOs, ROCs, and Feed-in Tariffs for renewable energy generation and trading

Environmental Legislation: Including Climate Change Act 2008 and Environmental Protection Act 1990 for environmental compliance

Grid Connection Requirements: National Grid Code and Distribution Code requirements for power generation and distribution

Metering Regulations: Including MOCOPA and Smart Metering regulations for accurate power measurement and billing

Financial Services and Markets Act 2000: Legislation governing payment terms, security arrangements, and credit support mechanisms

Anti-Money Laundering Regulations: Requirements for KYC and due diligence in financial transactions related to power purchase

UK GDPR and Data Protection Act 2018: Regulations governing the processing of customer data and privacy requirements in power purchase agreements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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