PART 2Electricity Market Reform

CHAPTER 2Contracts for Difference

8Duties of a CFD counterparty

(1)

A CFD counterparty must act in accordance with—

(a)

any direction given by the Secretary of State by virtue of this Chapter;

(b)

any provision included in regulations.

(2)

A CFD counterparty must exercise the functions conferred by or by virtue of this Chapter to ensure that it can meet its liabilities under any CFD to which it is a party.

(3)

In this Chapter “national system operator” means the person F1designated as the Independent System Operator and Planner under section 162 of the Energy Act 2023.