Essential Corporate News: Week ending December 3, 2021
On November 26, 2021 the Financial Conduct Authority (FCA) published Policy Statement PS21/16, summarising feedback to a Consultation Paper (CP21/25) it published in July 2021
This article was co-authored with Amelia Martin.
Under recently-announced initiatives by the Australian Energy Market Commission, no longer will batteries need to soften their square edges to fit within the round hole of regulation in the national electricity market (NEM). Pending changes will improve the participation of batteries and ensure that they are better rewarded for their contributions.
The changes allow batteries, aggregate and hybrid generation arrangements to play a more central role in the decarbonisation of Australia’s energy system by providing a clearer pathway for them to complement intermittent renewable generation in the system. The changes propose to:
A brief summary of these developments is as follows:
The draft energy storage plan remains open for consultation until 16 September 2021, with a final determination to be made the following month.
The commencement of these new markets is set for 9 October 2023.
We are working with clients to navigate and exploit these new rules. Please contact us should you wish to know more.
Recent decisions by the Court of Justice of the European Union (CJEU), the EU’s top court, have abolished the rights that EU investors previously had to bring claims against EU member states in international arbitration.
© Norton Rose Fulbright LLP 2021