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The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023 No. 254

Individual suppliers’ reserve amounts

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10.—(1) An electricity supplier who supplied electricity during the reference period must make a reserve payment to the revenue collection counterparty in respect of a quarterly obligation period (“the relevant period”) by—

(a)in the case of the first quarterly obligation period, the 5th working day after the first payment period start date;

(b)in the case of a subsequent quarterly obligation period, the 5th working day after the day on which the revenue collection counterparty has issued a notice to that supplier under regulation 15(3) for the relevant period.

(2) Where a supplier fails to pay all or part of a reserve payment by the date by which it must be paid in accordance with paragraph (1), that supplier must pay the revenue collection counterparty simple interest on any unpaid amount at the rate specified in regulation 36(1) from the day after the date by which that amount should have been paid.

(3) Subject to regulation 14, the amount of a supplier’s reserve payment in respect of the relevant period is the amount given by—

where—

  • TRA is total reserve amount for that period;

  • SRE is the amount of electricity supplied by that supplier in the reference period as determined on the date on which that total reserve amount is determined;

  • SXE is the amount of EII excluded electricity supplied by that supplier in the reference period as determined on the date on which that total reserve amount is determined;

  • RE is the total amount of electricity supplied by all suppliers in the reference period as determined on the date on which that total reserve amount is determined; and

  • XE is the total amount of EII excluded electricity supplied by all suppliers in the reference period as determined on the date on which that total reserve amount is determined.

(4) The reference period is the most recent period of 30 consecutive days in respect of which the BSCCo has carried out an Initial Volume Allocation Run before the revenue collection counterparty makes its determination under regulation 9(1)(a) in respect of the relevant period.

(5) For the purposes of paragraph (3) the amount of electricity supplied by an electricity supplier in a reference period or adjusted reference period is the amount of all electricity which the BSCCo determines was supplied by that supplier in that period, on the basis of the most recent BSC volume allocation run which the BSCCo has carried out.

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