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The Electricity Capacity Regulations 2014
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- UK Statutory Instruments
- 2014 No. 2043
- PART 7
- CHAPTER 2
- Regulation 61
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Draw down of applicant credit coverE+W+S
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61.—(1) The Settlement Body must draw down applicant credit cover provided by A in respect of a CMU (“CMU i”) if—
(a)where CMU i is an unproven demand side response CMU—
(i)the credit obligation period has not ended by the date on which the delivery year of A's capacity agreement in respect of CMU i commences; or
(ii)the Settlement Body receives a notice from the Delivery Body that A has provided a DSR test certificate which evidences a proven DSR capacity less than 90% of CMU i's [F1de-rated capacity];
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)payment of a termination fee [F3or non-completion fee] has become due pursuant to an invoice issued under regulation 43 [F3or 43A], and the termination fee [F3or non-completion fee] is unpaid.
(2) Where the Settlement Body is required to drawn down applicant credit cover—
(a)under sub-paragraph (a)(i) F4... of paragraph (1), it must do so within 60 days from the date specified in that sub-paragraph;
(b)under sub-paragraph (a)(ii) of paragraph (1), it must do so within 60 days from the date on which the Settlement Body receives the notice referred to in that sub-paragraph;
(c)under sub-paragraph (c) of paragraph (1), it must do so as soon as reasonably practicable after the date on which payment of the termination fee [F5or non-completion fee] becomes due.
(3) Subject to paragraph (4), applicant credit cover which is drawn down in accordance with this regulation is forfeited by A.
(4) If, after applicant credit cover has been drawn down, it is determined under Chapter 2 of Part 10 that the credit cover should not have been drawn down, the Settlement Body must pay to A the amount of the credit cover that was wrongly drawn down.
F6(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in reg. 61(1)(a)(ii) substituted (2.11.2017) by The Electricity Capacity (Amendment) Regulations 2017 (S.I. 2017/1053), reg. 1(2), Sch. 1 para. 7(a)
F2Reg. 61(1)(b) omitted (2.11.2017) by virtue of The Electricity Capacity (Amendment) Regulations 2017 (S.I. 2017/1053), reg. 1(2), Sch. 1 para. 7(b)
F3Words in reg. 61(1)(c) inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 19(1) (with reg. 1(3))
F4Words in reg. 61(2)(a) omitted (2.11.2017) by virtue of The Electricity Capacity (Amendment) Regulations 2017 (S.I. 2017/1053), reg. 1(2), Sch. 1 para. 7(c)
F5Words in reg. 61(2)(c) inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 19(2) (with reg. 1(3))
F6Reg. 61(5) omitted (2.11.2017) by virtue of The Electricity Capacity (Amendment) Regulations 2017 (S.I. 2017/1053), reg. 1(2), Sch. 1 para. 7(d)
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