PART 2Electricity Market Reform

CHAPTER 2Contracts for Difference

14CFD notification: offer to contract on standard terms

1

Where a CFD notification is given to a CFD counterparty under section 12, the CFD counterparty must, in accordance with provision made by regulations, offer to contract with the eligible generator specified in the notification on—

a

standard terms, or

b

standard terms as modified in accordance with any modification agreement entered into between the CFD counterparty and the eligible generator for the purposes of the CFD notification (see section 15).

2

Regulations may make further provision about an offer to contract made under this section, including provision about—

a

how a CFD counterparty is to apply or complete standard terms in relation to the offer in accordance with information specified in a CFD notification;

b

the time within which the offer must be made;

c

how the eligible generator to whom it is made may enter into a CFD as a result of the offer;

d

what is to happen if the eligible generator does not enter into a CFD as a result of it.

3

In this section, “standard terms”, in relation to a CFD notification, means standard terms published under section 11, determined in accordance with regulations as the standard terms that are to apply in relation to the CFD notification.