PART 4 Capacity auctions

CHAPTER 4 Determining eligibility and holding capacity auctions

24 Holding the capacity auction
1 The Delivery Body must, subject to regulation 26, hold a capacity auction starting on the date specified in the final auction guidelines published under regulation 21(3).
2 The Delivery Body may arrange for another person to conduct the capacity auction on its behalf, and in these Regulations “the auctioneer” means—
(a) the Delivery Body, if it conducts the capacity auction itself; or
(b) the person appointed by the Delivery Body to conduct the capacity auction.
3 The auctioneer must conduct the capacity auction in accordance with—
(a) capacity market rules;
(b) the auction guidelines; and
(c) any instructions given by the Secretary of State on how price decrements are to be set.
4 The Delivery Body is responsible for the performance of functions conferred on the auctioneer by these Regulations or capacity market rules, whether or not the Delivery Body performs those functions itself.
5 In paragraph (3)(c), “price decrement” means the amount by which the bidding price is to be decreased from one bidding round of a capacity auction to the next.