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The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014

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Withdrawal of collateral and payment of interest

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22.—(1) Where the collateral provided by an electricity supplier and held by the CFD counterparty is more than that supplier’s collateral requirement, that supplier may make a request that the CFD counterparty repay or return as much collateral as exceeds the supplier’s collateral requirement by giving a notice to the CFD counterparty.

(2) Where a request under paragraph (1) has been received by the CFD counterparty, it must, before the 2nd working day after the day on which the request was received, repay or return the lesser of—

(a)the amount requested by the supplier; or

(b)the amount of collateral which the CFD counterparty determines exceeds that supplier’s collateral requirement at the time the payment is to be made.

(3) Where a supplier has provided collateral in the form of cash, and the CFD counterparty holds that sum in an account which bears interest, it must pay to that supplier an amount equal to any such interest earned in relation to that sum within 5 working days of receiving that interest.

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