The Electricity Capacity Regulations 2014
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Change 1
51 Withholding credit payments to capacity providers
(1) This regulation applies where, at the time when a credit note is issued to a capacity provider (“C”) under this Part— (a) C is subject to a data default notice; ... (aa) C is issued a termination notice in relation to a CMU (“CMU i”) for an insolvency termination event (a “relevant termination notice”); or (b) other than when sub-paragraph (aa) applies, the Settlement Body is aware that C is insolvent. (2) The Settlement Body must ensure that— (a) the credit is withheld; ... (aa) where a relevant termination notice has been issued, no monthly capacity payment is paid in respect of the relevant CMU from the date the relevant termination notice is issued, and credit is withheld in accordance with paragraph (2A); and (b) the credit note states that the payment is to be withheld and states the reason why. (2A) Where C is issued a relevant termination notice, the Settlement Body must withhold credit in accordance with the formula— A=X×YZ where— A is the adjusted capacity payment; X is the full monthly capacity payment; Y is the number of days in that month before the date the relevant termination notice was issued; and Z is the total number of days in the month during which the termination notice was issued. (2B) The Settlement Body is not required to withhold credit from C under paragraph (1)(aa) if the relevant termination notice is withdrawn. (2C) Paragraph (1)(aa) applies to the termination of a transferred part as it applies to the termination of a capacity agreement. (3) In this regulation— “data default notice” has the meaning given in regulation 37(1); “insolvency termination event” and“termination notice” have the meanings given in the Rules.
51 Withholding credit payments to capacity providers
(1) This regulation applies where, at the time when a credit note is issued to a capacity provider (“C”) under this Part— (a) C is subject to a data default notice; ... (aa) C is issued a termination notice in relation to a CMU (“CMU i”) for an insolvency termination event (a “relevant termination notice”); or (b) other than when sub-paragraph (aa) applies, the Settlement Body is aware that C is insolvent. (2) The Settlement Body must ensure that— (a) the credit is withheld; ... (aa) where a relevant termination notice has been issued, no monthly capacity payment is paid in respect of the relevant CMU from the date the relevant termination notice is issued, and credit is withheld in accordance with paragraph (2A); and (b) the credit note states that the payment is to be withheld and states the reason why. (2A) Where C is issued a relevant termination notice, the Settlement Body must withhold credit in accordance with the formula— A=X×YZ where— A is the adjusted capacity payment; X is the full monthly capacity payment; Y is the number of days in that month before the date the relevant termination notice was issued; and Z is the total number of days in the month during which the termination notice was issued. (2B) The Settlement Body is not required to withhold credit from C under paragraph (1)(aa) if the relevant termination notice is withdrawn. (2C) Paragraph (1)(aa) applies to the termination of a transferred part as it applies to the termination of a capacity agreement. (3) In this regulation— “data default notice” has the meaning given in regulation 37(1); “insolvency termination event” and“termination notice” have the meanings given in the Rules.
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