CRU Sample Clauses
The CRU (Cost Recovery Unit) clause defines how certain costs incurred by a party, typically in the context of a project or service agreement, can be recovered from the other party. It usually specifies which types of expenses are eligible for recovery, the process for submitting claims, and any limitations or exclusions that apply. For example, it may allow a contractor to recover costs for materials, labor, or third-party services directly related to the project. The core function of this clause is to ensure that parties are fairly compensated for out-of-pocket expenses, thereby allocating financial risk and promoting transparency in cost management.
CRU. The CRU was established in 1999 and its role and functions have been expanded over time by legislation including the Electricity Regulation Act 1999, the Gas Act 1976, the Gas (Interim) Regulation Act 2002, the Energy (Miscellaneous Provisions) Acts 2006 and 2012, the Energy Act 2016, the Petroleum (Exploration and Extraction) Safety Act 2010, the Petroleum (Exploration and Extraction) Safety Act 2015, the Water Services (No 2) Act 2013, the Water Services Act 2014, the Water Services Act 2017, and related secondary legislation. The CRU’s mission is “Protecting the public interest in water, energy and energy safety”. The CRU’s 2019-2021 Strategic Plan envisions a secure, low carbon future. The CRU has various safety and economic regulatory functions. These include the regulation of electricity and gas undertakings, where its role is to ensure electricity and natural gas are available at reasonable cost to Irish energy customers. The CRU is also overseeing the roll-out of the National Smart Metering Programme and is working to empower and engage energy consumers to participate in the decarbonisation agenda. The CRU is responsible for the safety regulation of upstream petroleum activities carried out by petroleum undertakings, operators and owners. The CRU also regulates the safety of gas supply, transmission, distribution, storage and use of gas, and the registration of electrical contractors and gas installers. In addition, the CRU is responsible for the economic regulation of Irish Water in the provision of water and waste water services to its customers. The specific functions of the CRU which are particularly relevant to the scope of this MoU in relation to safety are: • to regulate designated petroleum activities with respect to safety; • to investigate and report to the Minister for the Environment, Climate and Communications on petroleum incidents; • to monitor and enforce compliance by petroleum undertakings, operators and owners with their obligations; • to assess, and where relevant accept or reject, safety cases and notifications submitted by operators and owners; • to issue safety permits; • to provide safety information to the public when appropriate; • to carry out its objectives as competent authority, including: o to cooperate with other competent authorities and contact points in other Member States; o to jointly adopt measures with the competent authority of relevant Member States to prevent significant impact on the environment from poten...