The Electricity Capacity Regulations 2014

Capacity payments: calculations to be made annually for each capacity committed CMU E+W+S

3.—(1) The Settlement Body must, by no later than 3 months before the commencement of a delivery year (“year X”), calculate in respect of each capacity committed CMU (“CMU i”)—

(a) the total amount in pounds of the capacity payments which, subject to regulation 40(5) and (6) and to regulations 49 to 51, are payable in respect of [F1 CO_ix] (“”); and

(b) in respect of each month of year X (“month M”), the amount in pounds of the capacity payment which, subject to those regulations, is payable in respect of CMU i for that month (“”).

[F2 (2) ACP_yx (for any value y) must be calculated in accordance with the formula—

.

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

.

(3A) For the purpose of sub-paragraph (3) tACP_N is the amount ,

where—

“tICO_iN” is any obligation, being the whole or part of the capacity obligation CO_zx, that has been transferred so as to—

(a)

apply to CMU i for all or part of month M, or

(b)

cease to apply to CMU i for all or part of month M (in which case tACP_N is to be expressed as a negative number);

“DT_mN” means the number of days in month M for which that capacity obligation has been transferred;

“D_m” means the total number of days in month M.]

(4) For the purpose of sub-paragraph (2), “[F3 PE_yx]” means the price in pounds per MW at which capacity payments are payable in respect of [F3 CO_yx], which is to be determined in accordance with sub-paragraphs (5) and (6).

F4 (5) If the relevant capacity auction was a T-4 auction, is to be calculated in accordance with the formula—

F4 (6) If the relevant capacity auction was a T-1 auction or a DSR transitional auction, is equal to .

(7) In this paragraph—

[F5 “CCP_y” means the capacity cleared price for CO_yx, as recorded on the capacity market register]

F6 ...

“” means the average of the monthly values of CPI for the months of the base period [F7 referred to in] regulation 11 for the relevant capacity auction;

“” means the average of the monthly values of CPI for the months of the winter ending on the 30th April preceding the start of year X;

“relevant capacity auction” means the capacity auction in which [F8 CO_yx] was awarded;

F9 ...

Textual Amendments

F1 Words in Sch. 1 para. 3(1)(a) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(1) (with reg. 1(4))

F2 Sch. 1 para. 3(2)-(3A) substituted for Sch. 1 para. 3(2)(3) (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(2) (with reg. 1(4))

F3 Word in Sch. 1 para. 3(4) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(3) (with reg. 1(4))

F4 Sch. 1 para. 3(5)(6): the subscript “y” substituted for the subscript “i” wherever it occurs (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(4) (with reg. 1(4))

F5 Words in Sch. 1 para. 3(7) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(5)(a) (with reg. 1(4))

F6 Words in Sch. 1 para. 3(7) omitted (14.7.2016) by virtue of The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(5)(b) (with reg. 1(4))

F7 Words in Sch. 1 para. 3(7) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(5)(c) (with reg. 1(4))

F8 Word in Sch. 1 para. 3(7) substituted (14.7.2016) by The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(5)(d) (with reg. 1(4))

F9 Words in Sch. 1 para. 3(7) omitted (14.7.2016) by virtue of The Electricity Capacity (Amendment) Regulations 2016 (S.I. 2016/742), reg. 1(2), Sch. 1 para. 32(5)(e) (with reg. 1(4))