Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023
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Number 30 of 2023 | ||
ENERGY (WINDFALL GAINS IN THE ENERGY SECTOR) (CAP ON MARKET REVENUES) ACT 2023 | ||
CONTENTS | ||
Preliminary and General | ||
Section | ||
Calculation, Return, Payment and Recovery | ||
Calculation | ||
Return | ||
Payment and recovery | ||
Market Cap Fund | ||
Offences, Penalties and Information Sharing | ||
Acts Referred to | ||
Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 (No. 24) | ||
Companies Act 2014 (No. 38) | ||
Electricity Regulation Act 1999 (No. 23) | ||
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Number 30 of 2023 | ||
ENERGY (WINDFALL GAINS IN THE ENERGY SECTOR) (CAP ON MARKET REVENUES) ACT 2023 | ||
An Act to give full effect to Articles 6, 7, 8 and 10 of Council Regulation (EU) 2022/1854 of 6 October 20221 on an emergency intervention to address high energy prices and for that purpose to make provision for a cap, that is to say the market cap to apply to market revenues from the sale of electricity produced from certain sources for the period beginning on 1 December 2022 and ending on 30 June 2023; to provide for the payment of revenues of producers, intermediaries and traders in excess of the market cap to the collection agent; to provide for the calculation of the amounts payable; to provide for the obligations of producers, intermediaries and traders relating to the market cap and enforcement of certain obligations; to provide for the administration and collection of the amounts payable; to provide for a collection agent; to provide for the establishment and management of a market cap fund; to provide for the making of schemes for disbursement from the market cap fund in accordance with Article 10 of the Council Regulation; and to provide for related matters. | ||
[17th November, 2023] | ||
Be it enacted by the Oireachtas as follows: | ||