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The Contracts for Difference (Allocation) Regulations 2014

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This is a draft item of legislation and has not yet been made as a UK Statutory Instrument. This draft has been replaced by a new draft, The Contracts for Difference (Allocation) Regulations 2014 ISBN 978-0-11-111731-6

Budget notices

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11.—(1) The Secretary of State must by notice (“a budget notice”) specify—

(a)the overall budget which is available for each delivery year applicable to an allocation round; and

(b)the administrative strike prices applicable to applications in an allocation round.

(2) The Secretary of State may in a budget notice specify any of the following—

(a)budgets which are reserved for the descriptions of applications specified in the notice (“minima”);

(b)maximum budgets which apply to the descriptions of applications specified in the notice (“maxima”);

(c)a division of the overall budget such that a different part (“pot”) of the overall budget applies to the description of applications specified in the notice.

(3) Where maxima or minima are specified, they may be expressed as—

(a)a sum of money;

(b)an amount of capacity of electricity generation; or

(c)a combination of (a) and (b).

(4) Where—

(a)the overall budget is expressed as a sum of money; and

(b)that sum is stated by reference to a price which is not current at the date of the budget notice,

the budget notice must include a factor which, when applied to that sum, converts that sum into a price which is current at that date.

(5) A budget notice must—

(a)be given to the delivery body;

(b)identify the allocation round to which the budget notice applies; and

(c)be given no later than 10 working days before the commencement date of the allocation round.

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