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The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014

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Additional total reserve amountU.K.

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14.[F1(1) An additional total reserve amount in respect of a quarterly obligation period is the amount which the CFD counterparty determines it would need to be paid, having regard to the matters set out in paragraph (2),—

(a)to be able to make any CFD counterparty payments it has failed to make during the reserve period which commences during that quarterly obligation period; and

(b)for there to be a 19 in 20 probability of it being able to make all payments it is required to make to CFD parties during that reserve period after the making of the determination.]

(2) The matters referred in paragraph (1) are—

(a)the amount of interim rate payments which it expects to be paid during [F2that reserve period] after the making of the determination of the additional total reserve amount;

(b)any other amount which it expects to be paid by suppliers during [F3that reserve period] after the making of that determination;

(c)the likelihood of any supplier failing to make payments it is required to make under these Regulations during [F4that reserve period]; F5...

[F6(d)the CFD counterparty’s estimate of the payments it expects to receive from CFD parties and electricity suppliers during that reserve period][F7; and

(e)the amount of any SoS funds that the Secretary of State has specified will be available in respect of that reserve period and that the Secretary of State has specified should be taken into account when adjusting the total reserve amount].

(3) Where the CFD counterparty determines an additional total reserve amount each electricity supplier [F8who supplied electricity during the adjusted reference period] must pay an additional reserve payment.

(4) An electricity supplier's additional reserve payment is the amount given by—

[F9 

 ]

where—

TAA is the additional total reserve amount;

SRE is the amount of electricity (within the meaning given by regulation 11(5)) supplied by that supplier in the adjusted reference period as determined at the time that additional total reserve amount is determined;

[F10SXE is the amount of EII excluded electricity supplied by that supplier in the adjusted reference period as determined on the date on which that additional total reserve amount is determined;]

RE is the total amount of electricity (within the meaning given by regulation 11(5)) supplied by all suppliers in the adjusted reference period, as determined at the time that additional total reserve amount is determined;

[F11XE is the total amount of EII excluded electricity supplied by all suppliers in the adjusted reference period as determined on the date on which that additional total reserve amount is determined.]

(5) For the [F12purposes of paragraphs (3), (4) and (6)], “the adjusted reference period” means the most recent period of 30 consecutive days in respect of which the [F13BSCCo] has carried out an Initial Volume Allocation Run.

(6) Where the CFD counterparty has determined an additional total reserve amount it must—

(a)publish a notice setting out its determination of the additional total reserve amount, and

(b)issue a notice to every electricity supplier [F14who supplied electricity during the adjusted reference period] setting out its determination of that supplier's additional reserve payment.

(7) An electricity supplier must pay an additional reserve payment in respect of the reserve period by the later of—

(a)the date by which a reserve payment is due from that supplier in respect of that period;

(b)the 30th day after the CFD counterparty has published a notice under paragraph (6)(a); or

(c)any later date which the CFD counterparty specifies in the notice published under paragraph (6)(a).

(8) Where a supplier fails to make all or part of an additional reserve payment by the date it must be paid in accordance with paragraph (7), that supplier must pay the CFD counterparty simple interest on any unpaid amount at the rate specified in regulation 35(1) from the day after the date by which that amount should have been paid.

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