The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014
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Change 1
28 Duties of the CFD counterparty to enforce and notify
(1) The CFD counterparty must exercise its functions in the manner best calculated to ensure the collection of all amounts which are required to be paid or provided by electricity suppliers under these Regulations. (2) In paragraph (1) “functions” includes— (a) any function conferred under these Regulations; and (b) the recovery of any sum as a civil debt by virtue of section 9 of the Act. (3) The CFD counterparty must take such steps as it considers necessary to ensure that electricity suppliers are— (a) informed of their liabilities under these Regulations; and (b) provided with information about liabilities which they may incur under these Regulations. (4) Where the CFD counterparty writes-off any debt owed to it by an electricity supplier, it must issue a notice of that fact to every electricity supplier who was required to make a payment under regulation 17(5) in relation to that debt. (5) The CFD counterparty must publish information which relates to its estimates of the liabilities of electricity suppliers arising during three consecutive quarterly obligation periods (“the projection period”). (6) The CFD counterparty must publish information under paragraph (5) no later than two quarterly obligation periods before the start of the first quarterly obligation period to which that information relates. (7) The information published under paragraph (5) must include— (a) an estimate of the interim levy rate that would apply to each quarterly obligation period during the projection period; (b) an estimate of the total reserve amount for each quarterly obligation period during the projection period; (c) an estimate of CFD party payments and CFD counterparty payments which may arise in respect of each quarterly obligation period during the projection period. (8) The CFD counterparty is not required to publish any information under paragraph (5) relating to generators that have applied for but not been awarded CFDs or that may apply for CFDs in future. (9) Where the CFD counterparty expects to make a generation counterparty payment or receive a generation party payment at any time after the final reconciliation determination for the quarterly obligation period to which the payment relates it must publish its estimate of— (a) when that payment is likely to be made; and (b) its estimate of the amount of that payment.
28 Duties of the CFD counterparty to enforce and notify
(1) The CFD counterparty must exercise its functions in the manner best calculated to ensure the collection of all amounts which are required to be paid or provided by electricity suppliers under these Regulations. (2) In paragraph (1) “functions” includes— (a) any function conferred under these Regulations; and (b) the recovery of any sum as a civil debt by virtue of section 9 of the Act. (3) The CFD counterparty must take such steps as it considers necessary to ensure that electricity suppliers are— (a) informed of their liabilities under these Regulations; and (b) provided with information about liabilities which they may incur under these Regulations. (4) Where the CFD counterparty writes-off any debt owed to it by an electricity supplier, it must issue a notice of that fact to every electricity supplier who was required to make a payment under regulation 17(5) in relation to that debt. (5) The CFD counterparty must publish information which relates to its estimates of the liabilities of electricity suppliers arising during three consecutive quarterly obligation periods (“the projection period”). (6) The CFD counterparty must publish information under paragraph (5) no later than two quarterly obligation periods before the start of the first quarterly obligation period to which that information relates. (7) The information published under paragraph (5) must include— (a) an estimate of the interim levy rate that would apply to each quarterly obligation period during the projection period; (b) an estimate of the total reserve amount for each quarterly obligation period during the projection period; (c) an estimate of CFD party payments and CFD counterparty payments which may arise in respect of each quarterly obligation period during the projection period. (8) The CFD counterparty is not required to publish any information under paragraph (5) relating to generators that have applied for but not been awarded CFDs or that may apply for CFDs in future. (9) Where the CFD counterparty expects to make a generation counterparty payment or receive a generation party payment at any time after the final reconciliation determination for the quarterly obligation period to which the payment relates it must publish its estimate of— (a) when that payment is likely to be made; and (b) its estimate of the amount of that payment.
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