The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014
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Change 1
10 Reserve payments
(1) The CFD counterparty must determine— (a) the total amount of reserve payments (“the total reserve amount”) to be collected from suppliers in respect of each quarterly obligation period; and (b) the amount of each electricity supplier's reserve payment in respect of each quarterly obligation period calculated in accordance with regulation 11. (1A) The CFD counterparty must make and publish its determination of the total reserve amount for a quarterly obligation period before the commencement of the quarterly obligation period which immediately precedes that period. (2) The CFD counterparty must determine the amount of each electricity supplier’s reserve payment for a quarterly obligation period before the 8th working day of the quarterly obligation period which immediately precedes that period. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) The CFD counterparty must issue to every relevant supplier a notice which sets out the amount of that supplier’s reserve payment for a quarterly obligation period before the 8th working day of the quarterly obligation period which immediately precedes that period. (4A) For the purpose of paragraph (4), a “relevant supplier” is an electricity supplier who supplied electricity during the reference period (within the meaning given by regulation 11(4)). (5) The total reserve amount for a quarterly obligation period is the amount which the CFD counterparty determines it would need to be paid for there to be a 19 in 20 probability of it being able to make all the payments it is required to make to CFD parties during the reserve period which commences during that period having regard to— (a) the CFD counterparty’s estimate of the payments it expects to receive from CFD parties and electricity suppliers during that reserve period; ... (b) the likelihood of any supplier failing to make payments it is required to make under these Regulations during that reserve period; and (c) any SoS funds that the Secretary of State has specified will be available in respect of that reserve period and that the Secretary of State has specified should be taken into account when adjusting the total reserve amount.
10 Reserve payments
(1) The CFD counterparty must determine— (a) the total amount of reserve payments (“the total reserve amount”) to be collected from suppliers in respect of each quarterly obligation period; and (b) the amount of each electricity supplier's reserve payment in respect of each quarterly obligation period calculated in accordance with regulation 11. (1A) The CFD counterparty must make and publish its determination of the total reserve amount for a quarterly obligation period before the commencement of the quarterly obligation period which immediately precedes that period. (2) The CFD counterparty must determine the amount of each electricity supplier’s reserve payment for a quarterly obligation period before the 8th working day of the quarterly obligation period which immediately precedes that period. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) The CFD counterparty must issue to every relevant supplier a notice which sets out the amount of that supplier’s reserve payment for a quarterly obligation period before the 8th working day of the quarterly obligation period which immediately precedes that period. (4A) For the purpose of paragraph (4), a “relevant supplier” is an electricity supplier who supplied electricity during the reference period (within the meaning given by regulation 11(4)). (5) The total reserve amount for a quarterly obligation period is the amount which the CFD counterparty determines it would need to be paid for there to be a 19 in 20 probability of it being able to make all the payments it is required to make to CFD parties during the reserve period which commences during that period having regard to— (a) the CFD counterparty’s estimate of the payments it expects to receive from CFD parties and electricity suppliers during that reserve period; ... (b) the likelihood of any supplier failing to make payments it is required to make under these Regulations during that reserve period; and (c) any SoS funds that the Secretary of State has specified will be available in respect of that reserve period and that the Secretary of State has specified should be taken into account when adjusting the total reserve amount.
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