The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014
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Change 1
25 Enforcement of requirements
(1) Any requirement of an electricity supplier under these Regulations is enforceable by the Authority as if any such requirement was a relevant requirement on a regulated person for the purposes of section 25 of the Electricity Act 1989 . (2) Where the CFD counterparty determines that an electricity supplier has not complied with any requirement to pay an amount required under these Regulations it may issue a notice to that supplier setting out— (a) the amount which the CFD counterparty determines that supplier should have paid; (b) the basis on which the CFD counterparty determined the amount; (c) the date on which the amount should have been paid; and (d) the rate, if any, of interest which applies to the amount. ... (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) Where the CFD counterparty determines that an electricity supplier has not complied with a requirement to ensure that the CFD counterparty holds sufficient collateral under regulation 19(2) it may issue a notice to that supplier which specifies the amount of collateral which the supplier would have to provide to meet that supplier's collateral requirement for the day on which the notice is issued. (4) Where the CFD counterparty has issued a notice to a supplier under paragraph (3) that supplier is required to pay the amount specified in the notice to the CFD counterparty in cash by the next working day after the notice has been issued. (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) Where an electricity supplier makes a payment under paragraph (4) the amount of that payment constitutes collateral held by the CFD counterparty for the purposes of regulation 19. (7) Where the CFD counterparty issues a notice to a supplier under paragraph (2) or (3)— (a) it must also provide a copy of that notice to the Authority; and (b) it may publish a copy of that notice, or a summary of that notice.
25 Enforcement of requirements
(1) Any requirement of an electricity supplier under these Regulations is enforceable by the Authority as if any such requirement was a relevant requirement on a regulated person for the purposes of section 25 of the Electricity Act 1989 . (2) Where the CFD counterparty determines that an electricity supplier has not complied with any requirement to pay an amount required under these Regulations it may issue a notice to that supplier setting out— (a) the amount which the CFD counterparty determines that supplier should have paid; (b) the basis on which the CFD counterparty determined the amount; (c) the date on which the amount should have been paid; and (d) the rate, if any, of interest which applies to the amount. ... (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) Where the CFD counterparty determines that an electricity supplier has not complied with a requirement to ensure that the CFD counterparty holds sufficient collateral under regulation 19(2) it may issue a notice to that supplier which specifies the amount of collateral which the supplier would have to provide to meet that supplier's collateral requirement for the day on which the notice is issued. (4) Where the CFD counterparty has issued a notice to a supplier under paragraph (3) that supplier is required to pay the amount specified in the notice to the CFD counterparty in cash by the next working day after the notice has been issued. (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) Where an electricity supplier makes a payment under paragraph (4) the amount of that payment constitutes collateral held by the CFD counterparty for the purposes of regulation 19. (7) Where the CFD counterparty issues a notice to a supplier under paragraph (2) or (3)— (a) it must also provide a copy of that notice to the Authority; and (b) it may publish a copy of that notice, or a summary of that notice.
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