The Electricity Capacity Regulations 2014
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Change 1
11 Meaning of auction parameters
(1) “Auction parameters”, in relation to a capacity auction, means, subject to paragraph (2), such of the following as are determined by the Secretary of State for that capacity auction under regulation 12 ...— (a) the demand curve; (b) the auction target capacity; (c) the price cap; (d) the price-taker threshold; (e) the 15 year minimum £/kW threshold , 9 year minimum £/kW threshold and 3 year minimum £/kW threshold; (f) the base period applicable for the purpose of calculation of capacity payments; (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) If any of the parameters referred to in paragraph (1) for a capacity auction have been adjusted in accordance with these Regulations or capacity market rules, references to the auction parameters for that capacity auction are to the parameters as so adjusted. (3) In this regulation— “3 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending on a generating CMU or an unproven demand side response CMU that is not a three year zero capex threshold CMU to be eligible to bid for a capacity obligation for a period of 2 or 3 delivery years; “9 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending on a declared low carbon CMU that is a new build CMU, a refurbishing CMU or an unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 3 and up to 9 delivery years; “15 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending— on a declared low carbon CMU that is a generating CMU or an unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 9 and up to 15 delivery years; or on any other generating CMU or unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 3 and up to 15 delivery years; “auction target capacity” means, in respect of a capacity auction, the portion of the target capacity in relation to the capacity year corresponding to the delivery year for which the capacity auction is to be held which should be used for that capacity auction; and “declared low carbon CMU”, “new build CMU”, “refurbishing CMU”, and “three year zero capex threshold CMU” have the meaning given in the Rules. ...
11 Meaning of auction parameters
(1) “Auction parameters”, in relation to a capacity auction, means, subject to paragraph (2), such of the following as are determined by the Secretary of State for that capacity auction under regulation 12 ...— (a) the demand curve; (b) the auction target capacity; (c) the price cap; (d) the price-taker threshold; (e) the 15 year minimum £/kW threshold , 9 year minimum £/kW threshold and 3 year minimum £/kW threshold; (f) the base period applicable for the purpose of calculation of capacity payments; (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) If any of the parameters referred to in paragraph (1) for a capacity auction have been adjusted in accordance with these Regulations or capacity market rules, references to the auction parameters for that capacity auction are to the parameters as so adjusted. (3) In this regulation— “3 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending on a generating CMU or an unproven demand side response CMU that is not a three year zero capex threshold CMU to be eligible to bid for a capacity obligation for a period of 2 or 3 delivery years; “9 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending on a declared low carbon CMU that is a new build CMU, a refurbishing CMU or an unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 3 and up to 9 delivery years; “15 year minimum £/kW threshold” means the minimum amount of capital expenditure per kilowatt of de-rated capacity which a bidder must commit to spending— on a declared low carbon CMU that is a generating CMU or an unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 9 and up to 15 delivery years; or on any other generating CMU or unproven demand side response CMU to be eligible to bid for a capacity obligation for a period of more than 3 and up to 15 delivery years; “auction target capacity” means, in respect of a capacity auction, the portion of the target capacity in relation to the capacity year corresponding to the delivery year for which the capacity auction is to be held which should be used for that capacity auction; and “declared low carbon CMU”, “new build CMU”, “refurbishing CMU”, and “three year zero capex threshold CMU” have the meaning given in the Rules. ...
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