Written by: Fatima Younis
Regulatory authorities introduced amendments to the electricity market licensing regulations, including stricter terms for handling guarantees of electricity generation plants equipped with storage. According to the new regulation, the guarantees submitted upon applying for the license of a generation plant equipped with a storage system will not be refunded until the plant fully enters the actual operation phase.
New criteria for capacity calculation and guarantee returns
The regulatory amendments included adopting the capacity criterion instead of energy storage capacity in relevant articles of the licensing regulation, taking into account the capacity of the electrical storage unit when evaluating the return of guarantees for units that have passed official acceptance work. This step comes to organize the technical and legal mechanisms associated with electrical energy production projects equipped with storage units.
Controls for force majeure cases and troubled investments
The amendments included additional provisions concerning force majeure cases, as it was decided that any event previously considered by regulatory authorities as force majeure will not be considered an exempting cause if it turns into a continuous condition that completely hinders the completion of the investment project.
