The Green Gas Support Scheme (Amendment) Regulations 2023

Amendment of regulation 42 (levy credit payments)

6.  In regulation 42 (levy credit payments)—

(a) in paragraph (1)(b), after “41(2)(b)” insert “or paragraph (3A)”;

(b) after paragraph (3) insert—

“(3A) The Authority must give a scheme supplier a new notification under paragraph (1) with an updated deficit amount where—

(a) the Authority has previously given a notification to the supplier under paragraph (1) notifying them of their credit cover requirement for a quarter,

(b) before the start of that quarter the supplier’s existing credit cover is reduced as a result of a draw down to pay the whole or any part of a mutualisation payment in accordance with regulation 55, and

(c) as a result of the draw down, either—

(i) the deficit amount specified in the notification is no longer sufficient to ensure that the supplier’s credit cover for that quarter covers their credit cover requirement, or

(ii) the notification does not specify a deficit amount but the supplier’s existing credit cover is no longer sufficient to cover their credit cover requirement for that quarter.”;

(c) in paragraph (5)(b), after “Authority” insert “and the excess amount would not be a de minimis amount if payable under regulation 45(2)(a)”;

(d) after paragraph (5), insert—

“(5A) Paragraph (5) does not apply where regulation 43A(2)(b) applies in relation to a scheme supplier’s credit cover requirement and any excess amount would be a de minimis amount if payable under regulation 45(2)(a).”.