The Electricity Capacity (Supplier Payment etc.) Regulations 2014

The credit default register

30.—(1) The Settlement Body must maintain a register (“the credit default register”) which includes—

(a) where supplier credit cover has been drawn down under regulation 12 or 23—

(i) the name of the electricity supplier whose credit cover has been drawn down;

(ii) the date of draw down;

(iii) the amount of credit cover drawn down; and

(iv) whether or not the electricity supplier disputes that the credit cover was required to be drawn down; and

(b) the entries on the register required by regulations 28(3)(a) and 29(2), including—

(i) the month to which an entry on the register relates; and

(ii) whether or not the electricity supplier disputes that entry.

(2) The Settlement Body must ensure as far as reasonably practicable that the register is kept up to date.

(3) The Settlement Body must remove an entry from the register as soon as reasonably practicable—

(a) if the Settlement Body makes a decision under Chapter 2 of Part 10 of the Principal Regulations that the entry on the register should not have been made;

(b) if capacity market stage 1 credit default is entered against S pursuant to regulation 28(3)(a) and supplier credit cover is subsequently approved under regulation 28(4), after that credit cover is approved;

(c) if capacity market stage 2 credit default is entered against S pursuant to regulation 29(2) in relation to month M, after the Settlement Body has received payment of the monthly capacity market supplier charge and any late payment interest due from S for month M; or

(d) if no previous sub-paragraph applies, after the last annual reconciliation run under Part 5 for the delivery year in respect of which the credit cover was drawn down.

(4) The Settlement Body must publish the information contained in the credit default register on a website.