The Electricity Capacity Regulations 2014

Over-delivery payments E+W+S

7.—(1) The Settlement Body must, after the end of each delivery year (“year X”), determine for each relevant CMU (“CMU i”)—

(a) the over-delivery rate in £/MWh applying to CMU i in respect of [F1 each relevant settlement period in year X (“ODR_ij”)];

(b) the amount in pounds of the over-delivery payment applying to CMU i in respect of each such settlement period in which CMU i over-delivered (“”); and

(c) the amount in pounds of the total over-delivery payment applying to CMU i in respect of year X (“”).

(2) [F2 Subject to sub-paragraph (2A),] [F3 ODR_ij] must be calculated in accordance with the F3 F4 formula—

[F5 (2A) For the purposes of the calculation in paragraph (2), where the over-delivery payment is to be made to a qualified person who is not a capacity provider in settlement period j, the value of PR_ij is deemed to be equal to the penalty rate applying to a capacity obligation awarded in the T-4 auction for year X and calculated in accordance with paragraph 5.]

(3) must be calculated in accordance with the F6 formula—

(4) must be calculated as the sum of for all the relevant settlement periods in year X in which CMU i over-delivered.

(5) For the purposes of this paragraph—

“over-delivered” is to be interpreted in accordance with regulation 42(2);

[F7 “PR_ij” means the penalty rate in pounds per MWh applying to CMU i in respect of settlement period j, as calculated in accordance with paragraph 5]

[F8 “qualified person” has the meaning given in regulation 42(2);]

a “relevant CMU” means a capacity committed CMU in respect of which is greater than in one or more relevant settlement periods in year X;

“TODV_x” means the aggregate in MWh of the total amounts over-delivered in year X by all relevant CMUs;

“TPR_x” means the total amount of capacity market penalty charge payments received by the Settlement Body in respect of year X.

Textual Amendments

F1 Words in Sch. 1 para. 7(1)(a) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(1) (with reg. 1(4))

F2 Words in Sch. 1 para. 7(2) inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(3)(a) (with reg. 1(4))

F3 Sch. 1 para. 7(2): “ODRij” substituted for “ODRix” (wherever it occurs) (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(2) (with reg. 1(4))

F4 Sch. 1 para. 7(2): formula amended by the substitution of “PRij” for “PRix” (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(3)(b) (with reg. 1(4))

F5 Sch. 1 para. 7(2A) inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(4) (with reg. 1(4))

F6 Sch. 1 para. 7(3): “ODRij” substituted for “ODRix” (wherever it occurs) (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(2) (with reg. 1(4))

F7 Words in Sch. 1 para. 7(5) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(5)(a) (with reg. 1(4))

F8 Words in Sch. 1 para. 7(5) inserted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 36(5)(b) (with reg. 1(4))