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Joint Power Generation Committee – 16 December 2025

The committee discussed potential presentation topics for 2026, highlighting interest in renewables, data centres and asset valuations. An update on the obsolescence clause confirmed only minor refinements following LMA Legal feedback, with a revised version to be circulated once available. Market issues included broker‑modified cyber clauses, concerns around terrorism crossover, and several notable global losses across power and energy sectors. Members also reviewed an AEGIS clause for circulation. The renewables update noted increasing use of outdated reports, inconsistent engineering fees and challenges for lead markets in aligning wording with appetite. Under AOB, members considered recent Brazilian regulatory changes, election updates, betterment concerns in breakdown wordings, and ongoing uncertainty around LEG2 interpretation, with plans for a future presentation.