Part 3Regulation of gas and electricity markets
Exploitation of electricity trading and transmission arrangements
23Expiry of power
1
The power in section 18(1) may not be exercised after—
a
the end of the period of 5 years beginning with the commencement day, or
b
such longer period (if any) as is specified in an order under subsection (2).
2
The Secretary of State may by order specify for the purposes of this section a period of—
a
more than 5 years, but
b
not more than 7 years,
beginning with the commencement day.
3
No order may be made under subsection (2) after the end of the period of 5 years beginning with the commencement day.
4
Before making an order under subsection (2), the Secretary of State must consult—
a
holders of licences under section 6(1)(a) of the Electricity Act 1989,
b
the Authority, and
c
such other persons as the Secretary of State thinks it is appropriate to consult.
5
All modifications cease to have effect after the expiry day.
6
But that does not—
a
affect the previous operation of a modification,
b
prevent the exercise of any function, power or right of any person in respect of the previous operation of a modification, or
c
affect any penalty, order or other enforcement action in respect of the previous operation of a modification.
7
8
Before making a modification under subsection (7), the Secretary of State must consult—
a
holders of licences under section 6(1)(a) of the Electricity Act 1989,
b
the Authority, and
c
such other persons as the Secretary of State thinks it is appropriate to consult.
9
In this section—
“commencement day” means the day on which section 18 comes into force;
“expiry day” means the day on which the power in section 18(1) ceases to be exercisable by virtue of this section;
“modification” means a modification under section 18(1);
“regulatory instrument” means a licence, standard conditions, or a document or agreement, as mentioned in section 18(1).