PART 2

Electricity Market Reform
CHAPTER 2

Contracts for Difference

CFD notification: offer to contract on standard terms
14
1
Where a CFD notification is given to a CFD counterparty under section 12, the CFD counterparty must, in accordance with provision made by regulations, offer to contract with the eligible generator specified in the notification on—
a
standard terms, or
b
standard terms as modified in accordance with any modification agreement entered into between the CFD counterparty and the eligible generator for the purposes of the CFD notification (see section 15).
2
Regulations may make further provision about an offer to contract made under this section, including provision about—
a
how a CFD counterparty is to apply or complete standard terms in relation to the offer in accordance with information specified in a CFD notification;
b
the time within which the offer must be made;
c
how the eligible generator to whom it is made may enter into a CFD as a result of the offer;
d
what is to happen if the eligible generator does not enter into a CFD as a result of it.
3
In this section, “standard terms”, in relation to a CFD notification, means standard terms published under section 11, determined in accordance with regulations as the standard terms that are to apply in relation to the CFD notification.