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The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014

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CHAPTER 1U.K.The supplier obligation

The supplier obligationU.K.

3.—(1) Every electricity supplier who supplies electricity during a quarterly obligation period must, subject to paragraph (3), pay a CFD period contribution to the CFD counterparty in respect of that period.

(2) The CFD period contribution in relation to a supplier in respect of a quarterly obligation period is the sum of—

(a)CFD daily contributions for each day on which that supplier supplies electricity in that period calculated in accordance with regulation 4; and

(b)a CFD quarterly contribution for that period calculated in accordance with regulation 5.

(3) Where the amount of a supplier's CFD period contribution in respect of a quarterly obligation period is a negative number—

(a)the amount the supplier must pay under paragraph (1) in respect of that period is zero; and

(b)the CFD counterparty must pay the absolute value of that amount to that supplier.

(4) For the purpose of ensuring that the CFD period contribution is paid—

(a)an electricity supplier must—

(i)make interim payments in accordance with regulations 8(1) and 11(1) and, where so required, regulation 14(3),

(ii)make supplier data reconciliation payments in accordance with regulation 9(2), and

(iii)make any required reconciliation payments in accordance with regulation 16(3)(a); and

(b)the CFD counterparty must—

(i)make counterparty data reconciliation payments in accordance with regulation 9(3), and

(ii)make any required reconciliation payments in accordance with regulation 16(3)(b).

CFD daily contributionsU.K.

4.—(1) The CFD daily contribution for a supplier for a day on which that supplier supplies electricity in a quarterly obligation period is the amount given by—

[F1

 ]

where—

[F2GP is the total amount of generation counterparty payments which the CFD counterparty is required to make in respect of electricity generation which occurred on that day except for any payments which, at the time of the final reconciliation determination in respect of that quarterly obligation period, had not been determined by the CFD counterparty;]

[F3CP is the total amount of generation party payments which the CFD counterparty has received from CFD parties in respect of electricity generation which occurred on that day except for any payments which, at the time of the final reconciliation determination in respect of that quarterly obligation period, had not been determined by the CFD counterparty;]

SDS is the amount of electricity supplied by that supplier on that day;

[F4XE is the amount of EII excluded electricity supplied by that supplier on that day;

F5...]

TDS is the total amount of electricity supplied by all suppliers on that day.

[F6TE is the total amount of EII excluded electricity supplied by all suppliers on that day;

F7...]

F8(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9(1B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) In this regulation [F10and regulations 5 and 28]—

“generation counterparty payment” means any CFD counterparty payment made under, or in respect of a breach of, a CFD or connected agreement which is calculated directly by reference to an amount of electricity generated by a generating station which is the subject of that CFD or connected agreement;

“generation party payment” means any CFD party payment made under a CFD or connected agreement which is calculated directly by reference to an amount of electricity generated by a generating station which is the subject of that CFD or connected agreement;

(3) For the purposes of this regulation and regulation 5, the amount of electricity supplied by a supplier is the amount of electricity which the BSCCo determines was supplied by that supplier on the basis of—

(a)a Final Reconciliation Volume Allocation Run; or

(b)where a Post-Final Volume Allocation Run has occurred in relation to the day on which the electricity was supplied, a Post-Final Volume Allocation Run.

Textual Amendments

CFD quarterly contributionU.K.

5.  The CFD quarterly contribution for a supplier for a quarterly period is the amount given by—

[F11 

 ]

where—

[F12NDS is the sum of—

(a)

the total amount of CFD counterparty payments which are not generation counterparty payments which the CFD counterparty was required to make during that period; and

(b)

the total amount of generation counterparty payments which were made during that period but which had not been determined by the time of the final reconciliation determination in respect of the quarterly obligation period to which the payment relates;]

[F13SoS repayment is the total amount of any SoS funds that the Secretary of State had specified were to be used when calculating the CFD quarterly contribution in respect of the quarterly obligation period that ended three whole quarterly obligation periods before the quarterly obligation period for which this calculation is made;]

[F14NGS is the sum of—

(a)

the total amount of CFD party payments which are not generation party payments which the CFD counterparty has received from CFD parties during that period; and

(b)

the total amount of generation party payments which the CFD counterparty has received from CFD parties during that period but which had not been determined by the time of the final reconciliation determination in respect of the quarterly obligation period to which the payment relates;]

DI is any amount of interest which was paid by virtue of regulation 8(6), 9(7), 11(2), 14(8), 16(5), 17(6) or 25(5) during that period, less any amount of that interest which was paid to electricity suppliers by virtue of regulation 18(2);

[F15SoS payment is the total amount of any SoS funds that the Secretary of State has specified are to be used when calculating the CFD quarterly contribution in respect of that period;]

SQS is the amount of electricity supplied by that supplier in that period;

[F16“XEP” is the amount of EII excluded electricity supplied by that supplier in that period;]

TQS is the total amount of electricity supplied in that period.

[F17AXP is the sum of XEP for all suppliers in that period.]

Textual Amendments

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