- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Electricity Capacity (Supplier Payment etc.) Regulations 2014 No. 3354
27.—(1) The Settlement Body must, by no later than 2 months before the commencement of a delivery year—
(a)determine for each month of the delivery year the amount of credit cover which each electricity supplier is required to provide for that month;
(b)provide the determination for each electricity supplier in the form of a schedule (a “schedule of monthly credit cover”); and
(c)give a notice to each electricity supplier of the schedule of monthly credit cover which applies to it.
(2) The Settlement Body must, as soon as reasonably practicable after making the calculations in paragraph 3 of Schedule 1—
(a)make, for each month of the delivery year after the month in which those calculations are made, a revised determination of the amount of credit cover which each electricity supplier is required to provide for that month;
(b)produce a revised schedule of monthly credit cover for each electricity supplier; and
(c)give a notice to each electricity supplier of the revised schedule of monthly credit cover which applies to it.
(3) The amount of credit cover to be determined under paragraph (1)(a) or (2)(a) for S in respect of month M is 110% of the monthly capacity market supplier charge which the Settlement Body estimates will be payable by S in respect of month M.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: