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The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023 No. 254

Use of payments

This section has no associated Explanatory Memorandum

33.—(1) Where the revenue collection counterparty receives a payment from an electricity supplier under regulation 23, the revenue collection counterparty may only use that payment for the purposes of meeting its costs.

(2) Where the revenue collection counterparty receives a payment from an electricity supplier under any regulation, other than regulation 23, the revenue collection counterparty may only use that payment for the purposes of—

(a)making revenue collection counterparty payments;

(b)making any repayments due to the Secretary of State in relation to any SoS funds which the revenue collection counterparty must repay to the Secretary of State at such time and in such amount as agreed between the Secretary of State and the revenue collection counterparty; or

(c)making payments to electricity suppliers under these Regulations.

(3) In paragraph (1),“costs” means any costs incurred by the revenue collection counterparty in connection with the performance by it of any function conferred on it by or by virtue of Part 2 of the Act.

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