The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014
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Change 1
6 Setting the interim levy rate
(1) The CFD counterparty must, in respect of every quarterly obligation period determine an interim levy rate which is to apply for that period. (2) The CFD counterparty must determine an interim levy rate for a quarterly obligation period (“the rate period”) before the commencement of the quarterly obligation period which immediately precedes the rate period. (3) Where the CFD counterparty has determined an interim levy rate for a quarterly obligation period it must— (a) as soon as reasonably practicable, publish a notice setting out that rate and issue that notice to every electricity supplier who has a BM Unit registered as at the day before the date of publication of the notice; and (b) issue that notice to every electricity supplier who has a BM Unit that becomes registered on or after the date of publication of the notice and by the last day of the quarterly obligation period to which that rate applies, as soon as reasonably practicable after the BM Unit is registered. (4) Subject to paragraph (5), the interim levy rate for a quarterly obligation period is to be determined as the amount given by— E O C − E O I E O S where— EOC is the estimated quarterly obligation period payment cost, estimated in accordance with regulation 7(1); EOI is the estimated quarterly obligation period income, estimated in accordance with regulation 7(3); and EOS is the estimated quarterly obligation period electricity supply, estimated in accordance with regulation 7(4). (5) Where the amount given by the calculation in paragraph (4) in relation to a quarterly obligation period is less than zero, the interim levy rate shall be determined as zero for that period.
6 Setting the interim levy rate
(1) The CFD counterparty must, in respect of every quarterly obligation period determine an interim levy rate which is to apply for that period. (2) The CFD counterparty must determine an interim levy rate for a quarterly obligation period (“the rate period”) before the commencement of the quarterly obligation period which immediately precedes the rate period. (3) Where the CFD counterparty has determined an interim levy rate for a quarterly obligation period it must— (a) as soon as reasonably practicable, publish a notice setting out that rate and issue that notice to every electricity supplier who has a BM Unit registered as at the day before the date of publication of the notice; and (b) issue that notice to every electricity supplier who has a BM Unit that becomes registered on or after the date of publication of the notice and by the last day of the quarterly obligation period to which that rate applies, as soon as reasonably practicable after the BM Unit is registered. (4) Subject to paragraph (5), the interim levy rate for a quarterly obligation period is to be determined as the amount given by— E O C − E O I E O S where— EOC is the estimated quarterly obligation period payment cost, estimated in accordance with regulation 7(1); EOI is the estimated quarterly obligation period income, estimated in accordance with regulation 7(3); and EOS is the estimated quarterly obligation period electricity supply, estimated in accordance with regulation 7(4). (5) Where the amount given by the calculation in paragraph (4) in relation to a quarterly obligation period is less than zero, the interim levy rate shall be determined as zero for that period.
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