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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

The supplier obligation

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3.—(1) Every electricity supplier who supplies electricity during a quarterly obligation period must, subject to paragraph (3), pay an RCC period contribution to the revenue collection counterparty in respect of that period.

(2) That contribution is to be calculated in accordance with regulation 4.

(3) Where the amount of a supplier’s RCC period contribution in respect of a quarterly obligation period is a negative number—

(a)the amount the supplier must pay under paragraph (1) in respect of that period is zero; and

(b)the revenue collection counterparty must pay the absolute value of that amount to that supplier.

(4) For the purpose of ensuring that the RCC period contribution is paid—

(a)an electricity supplier must make—

(i)interim rate payments in accordance with regulation 7(1),

(ii)supplier data reconciliation payments in accordance with regulation 8(2),

(iii)reserve payments in accordance with regulation 10(1),

(iv)any additional reserve payments required by regulation 13(3), and

(v)any reconciliation payments required by regulation 16(3)(a); and

(b)the revenue collection counterparty must make—

(i)counterparty data reconciliation payments in accordance with regulation 8(3), and

(ii)any required reconciliation payments in accordance with regulation 16(3)(b).

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