The Electricity Capacity Regulations 2014
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Change 1
34 Termination of capacity agreements: CFDs and ROO conversions
(1) The Delivery Body must terminate a capacity agreement (“A”) issued following a T-4 capacity auction where, by no later than 16 months before the start of the delivery period, the Delivery Body receives in respect of A— (a) a CFD transfer notice; or (b) a ROO conversion notice. (2) The Delivery Body must— (a) comply with paragraph (1) immediately it receives the notice; and (b) as soon as reasonably practicable, give a notice that it has terminated A to— (i) the capacity provider in respect of A; (ii) the Settlement Body; and (iii) the CFD counterparty in respect of a CFD transfer notice or the Authority in respect of a ROO conversion notice. (2A) Subject to paragraph (2B), a CFD transfer notice must include a statement verifying the truth of the statements contained in the CFD transfer notice, which is signed by two directors of the capacity provider or, in the case of a capacity provider which is not a company, by two persons duly authorised by the capacity provider. (2B) If a capacity provider has a sole director, references to “directors” in paragraph (2A) are to be read as the sole director. (3) In this regulation— “allocation round” means an allocation round established by the Secretary of State under regulation 4 of the Contracts for Difference (Allocation) Regulations 2014; “CFD transfer notice” means a notice from the capacity provider in respect of CMU i which— identifies A; states that the capacity provider in respect of CMU i seeks the termination of A in order to become eligible to apply for an allocation round CFD (other than a CCS CFD) in an allocation round; identifies the specific allocation round in which the capacity provider intends to apply; requests that the Delivery Body terminate A; and complies with paragraph (2A); “CMU i” means the CMU to which A applies; “the delivery period” means the delivery year or the period of delivery years for which A imposes a capacity obligation; “ROO conversion notice” means a notice from the capacity provider in respect of A which— identifies A; states that the capacity provider intends to claim ROCs in respect of CMU i as a unit conversion or as part of a station conversion for any of the delivery period; and includes a written confirmation from the Authority that at least one ROC has been issued in respect of CMU i as a unit conversion or as part of a station conversion since the date A was awarded; “station conversion” has the same meaning as it has in the ROO ; and “unit conversion” has the same meaning as it has in the ROO .
34 Termination of capacity agreements: CFDs and ROO conversions
(1) The Delivery Body must terminate a capacity agreement (“A”) issued following a T-4 capacity auction where, by no later than 16 months before the start of the delivery period, the Delivery Body receives in respect of A— (a) a CFD transfer notice; or (b) a ROO conversion notice. (2) The Delivery Body must— (a) comply with paragraph (1) immediately it receives the notice; and (b) as soon as reasonably practicable, give a notice that it has terminated A to— (i) the capacity provider in respect of A; (ii) the Settlement Body; and (iii) the CFD counterparty in respect of a CFD transfer notice or the Authority in respect of a ROO conversion notice. (2A) Subject to paragraph (2B), a CFD transfer notice must include a statement verifying the truth of the statements contained in the CFD transfer notice, which is signed by two directors of the capacity provider or, in the case of a capacity provider which is not a company, by two persons duly authorised by the capacity provider. (2B) If a capacity provider has a sole director, references to “directors” in paragraph (2A) are to be read as the sole director. (3) In this regulation— “allocation round” means an allocation round established by the Secretary of State under regulation 4 of the Contracts for Difference (Allocation) Regulations 2014; “CFD transfer notice” means a notice from the capacity provider in respect of CMU i which— identifies A; states that the capacity provider in respect of CMU i seeks the termination of A in order to become eligible to apply for an allocation round CFD (other than a CCS CFD) in an allocation round; identifies the specific allocation round in which the capacity provider intends to apply; requests that the Delivery Body terminate A; and complies with paragraph (2A); “CMU i” means the CMU to which A applies; “the delivery period” means the delivery year or the period of delivery years for which A imposes a capacity obligation; “ROO conversion notice” means a notice from the capacity provider in respect of A which— identifies A; states that the capacity provider intends to claim ROCs in respect of CMU i as a unit conversion or as part of a station conversion for any of the delivery period; and includes a written confirmation from the Authority that at least one ROC has been issued in respect of CMU i as a unit conversion or as part of a station conversion since the date A was awarded; “station conversion” has the same meaning as it has in the ROO ; and “unit conversion” has the same meaning as it has in the ROO .
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