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The Electricity Capacity (Amendment) Regulations 2016
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Paragraph 5 (calculation of settlement period penalty)
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33.—(1) In paragraph 5(2), for “PRix” substitute “PRij”.
(2) After paragraph 5(2) insert—
“(2A) For the purpose of sub-paragraph (2), “PRij” is the penalty rate in pounds per MWh applying to CMU i in respect of settlement period j, and is to be calculated in accordance with the formula—
where—
“ICOijN” is the whole or a part of any capacity obligation COzx applying to CMU i in settlement period j, and
“PRN” is the penalty rate applying to that capacity obligation.”.
(3) For paragraph 5(3) substitute—
“(3) For the purpose of sub-paragraph (2A), PRN is to be calculated in accordance with the formula—
(4) In paragraph 5(4), for the definition of “PEix” substitute—
““PEzx” means the price in pounds per MW determined for COzx in accordance with paragraph 3(4) to (6)”.
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