PART 2

Electricity Market Reform
CHAPTER 2

Contracts for Difference

Limits on costs to be incurred
23
1
Regulations may make provision for—
a
the power to give a notification under section 12 not to be exercisable if a maximum cost incurred or to be incurred by a CFD counterparty has been reached (such cost to be calculated in accordance with provision made by or under the regulations);
b
a power for the Secretary of State to direct the national system operator not to give a notification under that section if the Secretary of State believes that by virtue of the notification being given a cost greater than the maximum cost provided for by the regulations would be incurred.
2
If more than one designation has effect under section 7, the reference in subsection (1)(a) is a reference to all CFD counterparties.
3
Provision made by virtue of subsection (1)(a) may provide for anything which is to be calculated under the regulations to be calculated by such persons, in accordance with such procedure and by reference to such matters and to the opinion of such persons, as may be specified in the regulations.