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6A.—(1) Immediately after calculating SPPSAij for a relevant CMU i and any relevant settlement period j in month M under paragraph 6, the settlement body must also calculate D in accordance with the formula—
where “SPPSAi(j-1)” is the settlement period penalty settlement amount for CMU i in the relevant settlement period preceding period j (or, where j is the first such period in month M, zero).
(2) For each relevant settlement period j in month M, the settlement body must then determine for each obligation ICOij applying to CMU i in that settlement period (“ICOijN”)—
(a)the monthly penalty cap applying in respect of ICOijN (“MPCijN”); and
(b)the apportioned settlement period penalty amount for ICOijN (“ASPPAijN”) as determined in accordance with sub-paragraph (4).
(3) For the purpose of sub-paragraph (2)(a), MPCijN is to be determined in accordance with the formula—
where—
“ICOijN” is the whole or a part of the capacity obligation COzx awarded in respect of CMU z for year X,
“PEzx” means the price in pounds per MW determined for COzx in accordance with paragraph 3(4) to (6),
“Fz” is to be interpreted in accordance with paragraph 6(6), and
means the sum of all apportioned settlement period penalty amounts calculated for ICOijN when that obligation applies to CMU i in any relevant settlement period in month M that precedes period j (or, where j is the first such period, zero).
(4) For the purpose of sub-paragraph (2)(b) ASPPAijN is to be determined as follows (where D is the result of the calculation referred to in sub-paragraph (1))—
(a)for each obligation ICOijN referred to in sub-paragraph (2), calculate PRN in accordance with paragraph 5(3), and arrange those obligations in a series (beginning with ICOij1) as described in paragraph (b);
(b)each such obligation ICOijN is ranked according to the magnitude of its corresponding PRN (in descending order with the highest corresponding penalty rate first), except that where the same penalty rate corresponds to more than one such obligation those obligations are ranked between themselves—
(i)according to the date on which the obligation was awarded in respect of CMU i, or transferred so as to apply to CMU i (with the latest such date first), and
(ii)for obligations awarded or transferred on the same date, according to the time at which a request to transfer the obligation was received by the Delivery Body (with the latest such time first), and with an awarded obligation ranking prior to any transferred obligation;
(c)then for any such ICOijN—
Textual Amendments
F1Sch. 1 para. 6A inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 35 (with reg. 1(4))
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