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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 34
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There are currently no known outstanding effects for the The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023, Section 34.
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Apportioning sums to revenue collection contractsE+W+S
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34.—(1) This regulation applies where the revenue collection counterparty is unable fully to meet its liabilities under, or pursuant to, a revenue collection contract.
(2) The revenue collection counterparty is unable fully to meet its liabilities under, or pursuant to, a revenue collection contract when the total amount held by the revenue collection counterparty at any time is less than the total amount of revenue collection counterparty payments it must pay at that time.
(3) Where this regulation applies, the amount which may be used to make revenue collection counterparty payments in relation to a particular revenue collection contract is the amount given by—
where—
AH is the total amount held by the revenue collection counterparty;
OG is the amount of revenue collection counterparty payments owed in relation to that revenue collection contract; and
OA is the total amount of revenue collection counterparty payments which the revenue collection counterparty owes.
(4) An amount is held by the revenue collection counterparty if it is in possession of that amount and—
(a)it is an amount paid to it by electricity suppliers under these Regulations, other than an amount paid under or by virtue of regulation 23(1) or (6), or provided under regulation 19(2);
(b)it is an amount treated as a payment by an electricity supplier to the revenue collection counterparty by virtue of regulation 21(4) or (5) or regulation 30(3);
(c)it is an amount of collateral which was provided in the form of cash and the revenue collection counterparty is entitled to call that collateral by virtue of regulation 21;
(d)it is an amount received as a RCC party payment by the revenue collection counterparty; or
(e)it is any other amount provided to the revenue collection counterparty for the purpose of making revenue collection counterparty payments.
Commencement Information
I1Reg. 34 in force at 23.3.2023, see reg. 1(2)
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