The Electricity (Competitive Tenders for Offshore Transmission Licences) Regulations 2009

Treatment of payments and security on cancellation

19.—(1) This regulation applies where the Authority cancels a qualifying project from a tender exercise in accordance with regulation 18(1) (whether or not that tender exercise in respect of that qualifying project is re-run or is determined as failed).

(2) Where one or more of the events in paragraphs (b), (c), (d), (e), (f), (g), (h), (i), (j) and (q) of Schedule 6 are occurring or have occurred in respect of a qualifying project, the Authority shall, in accordance with its cost recovery methodology–

(a) not repay wholly or in part any payment that has been made by an applicant, qualifying bidder or preferred bidder in accordance with these Regulations, including any interest which may have been accrued on the whole or part of that payment;

(b) repay to the developer wholly or in part the payment that has been made in accordance with regulation 6(1)(a), including any interest which may have been accrued on the whole or part of that payment; and

(c) release to the developer or person approved by the Authority with whom the developer has made arrangements, wholly or in part the security that has been provided in accordance with regulation 6(1)(b), including any interest which may have been accrued where that security provided is a monetary deposit.

(3) Where one or more of the events in paragraphs (a), (k), (l), (m), (n), (o) and (p) of Schedule 6 are occurring or have occurred in respect of a qualifying project, the Authority shall, in accordance with its cost recovery methodology–

(a) repay to an applicant, qualifying bidder, preferred bidder or successful bidder wholly or in part any payment that has been made by that applicant, qualifying bidder, preferred bidder or successful bidder in accordance with these Regulations, including any interest which may have been accrued on the whole or part of that payment;

(b) not repay wholly or in part the payment that has been made in accordance with regulation 6(1)(a), including any interest which may have been accrued on the whole or part of that payment; and

(c) determine that the security provided in accordance with regulation 6(1)(b) shall be forfeited wholly or in part, including any interest which may have been accrued where that security provided is a monetary deposit.