Setting the interim levy rate
5.—(1) The revenue collection counterparty must, in respect of every quarterly obligation period, determine an interim levy rate which is to apply for that period.
(2) The revenue collection counterparty must determine the interim levy rate for a quarterly obligation period at least 30 days before the commencement of that quarterly obligation period.
(3) Where the revenue collection 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—
where—
EOC is the estimated quarterly obligation period payment cost, determined in accordance with regulation 6(1);
EOI is the estimated quarterly obligation period income, determined in accordance with regulation 6(2); and
EOS is the estimated quarterly obligation period electricity supply, estimated in accordance with regulation 6(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 must be determined as zero for that period.