Notice

Designation of Low Carbon Contracts Company Ltd as a counterparty for industrial carbon capture revenue support contracts

Published 23 August 2024

© Crown copyright 2024

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This publication is available at https://www.gov.uk/government/publications/low-carbon-contracts-company-counterparty-for-industrial-carbon-capture-revenue-support-contracts/designation-of-low-carbon-contracts-company-ltd-as-a-counterparty-for-industrial-carbon-capture-revenue-support-contracts

Rt Hon Ed Miliband MP
Secretary of State
Department for Energy Security & Net Zero
55 Whitehall
London
SW1A 2HP

Low Carbon Contracts Company Ltd
10 South Colonnade
Canary Wharf
London
E14 4PU

5 August 2024

Dear Low Carbon Contracts Company Ltd,

Notice of designation of Low Carbon Contracts Company Ltd as a counterparty for industrial carbon capture revenue support contracts

Section 67(1) of the Energy Act 2023 (the ‘Act’) provides that the Secretary of State may by notice given to a person designate the person to be: (i) a counterparty for carbon capture revenue support contracts; (ii) a counterparty for any one or more descriptions of carbon capture revenue support contract.

In accordance with section 67(4) of the Act, Low Carbon Contracts Company Ltd gave its consent to be designated under section 67 of the Act by letter dated 8 July 2024 as a counterparty for the following description of carbon capture revenue support contract: carbon capture revenue support contracts where the carbon capture entity [footnote 1] with whom Low Carbon Contracts Company Ltd contracts (or is to contract) is a carbon capture entity that carries on (or is to carry on) in the United Kingdom [footnote 2], with a view to the storage [footnote 3] of carbon dioxide, activities of capturing carbon dioxide (or any substance consisting primarily of carbon dioxide) that has been produced by commercial or industrial activities (the ‘Described Carbon Capture Revenue Support Contract’). Accordingly, and in exercise of the powers in section 67 of the Act, the Secretary of State hereby gives notice designating Low Carbon Contracts Company Ltd, a company registered in England and Wales with company registration number 08818711, as a counterparty for the Described Carbon Capture Revenue Support Contract.

This notice of designation is given on 5 August 2024. It will also be published in accordance with section 81(3)(a) of the Act.

Yours ever,

Rt Hon Ed Miliband MP
Secretary of State for Energy Security & Net Zero

  1. As defined in section 67(7) of the Act. ↩

  2. See the provision in section 67(8) of the Act as to the meaning of “carrying on activities in the United Kingdom”. ↩

  3. As defined in section 67(7) of the Act. ↩

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