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Sale and transfer by EirGrid of electricity generation plant to electricity generators for specified purpose
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4. (1) EirGrid shall not operate any electricity generation plant acquired by it pursuant to a direction and shall deal with it solely in accordance with a direction.
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(2) Where EirGrid acquires electricity generation plant and enters into an agreement with an electricity generator, the agreement may include a term in relation to deferred payment for the electricity generation plant and may provide for—
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(a) the sale or transfer of the electricity generation plant to the electricity generator,
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(b) the emergency operation of the electricity generation plant, and
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(c) any further arrangements necessary for achieving the specified purpose.
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(3) Upon the sale or transfer of the electricity generation plant pursuant to an agreement referred to in subsection (2), the title to or any relevant rights or interest in the electricity generation plant shall, subject to the limitations and rights provided for in this section, transfer to the electricity generator.
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(4) On the termination of an agreement referred to in subsection (2), in accordance with its terms or otherwise, the electricity generator shall dispose of the electricity generation plant in an arm’s length transaction in accordance with any direction of the Commission.
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(5) An agreement referred to in subsection (2) shall ensure that in all circumstances EirGrid shall be paid the full price of the electricity generating plant and any profit received on a sale of the plant by the electricity generator.
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(6) An electricity generator shall not obtain any benefit in respect of obligations undertaken pursuant to an agreement referred to in subsection (2) other than reimbursement of such reasonable costs incurred by the electricity generator, including a reasonable return, as may be approved by the Commission.
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