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The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023
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- UK Statutory Instruments
- 2023 No. 254
- PART 4
- CHAPTER 2
- Regulation 31
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Netting of payments by the revenue collection counterparty
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31.—(1) This regulation applies where—
(a)the revenue collection counterparty must pay an amount to an electricity supplier under these Regulations by a certain date (the “counterparty payment”); and
(b)that supplier must pay an amount to the revenue collection counterparty by the same date (the “supplier payment”).
(2) Where the counterparty payment is more than the supplier payment, payment of the counterparty payment less the supplier payment discharges—
(a)the revenue collection counterparty’s obligation to make the counterparty payment, and
(b)the supplier’s obligation to make the supplier payment.
(3) Where the counterparty payment is less than the supplier payment, payment of the supplier payment less the counterparty payment discharges—
(a)the supplier’s obligation to make the supplier payment, and
(b)the revenue collection counterparty’s obligation to make the counterparty payment.
(4) Where the counterparty payment is equal to the supplier payment—
(a)the revenue collection counterparty’s obligation to make the counterparty payment is discharged, and
(b)the supplier’s obligation to make the supplier payment is discharged.
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