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5.—(1) Regulation 7 of the ESO Regulations is amended as follows.
(2) For paragraph (1) substitute—
“(1) The estimated quarterly obligation period payment cost in respect of a quarterly obligation period (“the rate period”) is the sum of the CFD counterparty’s estimates of TGPR and NDSR in respect of that period, estimated by the CFD counterparty having regard to the matters set out in paragraph (2).”.
(3) In paragraph (2) omit—
(a)each occurrence of the words “in respect of which payments may become due”; and
(b)paragraph (v).
(4) In paragraph (3)—
(a)for “amount which the CFD counterparty estimates it will receive from CFD parties during” substitute “sum of the CFD counterparty’s estimates of TCPR and NGSR in respect of”; and
(b)omit sub-paragraph (b).
(5) In paragraph (5)—
(a)after the definition of CFD generating station insert—
““CP” and “GP” are to be construed in accordance with regulation 4;”; and
(b)after the definition of “market reference price”, “settlement hour”, “settlement period” and “strike price” insert—
““NDS” and “NGS” are to be construed in accordance with regulation 5;
“NDSR” means the NDS required to be paid by the CFD counterparty during the rate period;
“NGSR” means the NGS which is paid to the CFD counterparty during the rate period;
“TCPR” means the sum of all CP paid to the CFD counterparty in respect of electricity generation during the rate period; and
“TGPR” means the sum of all GP required to be paid by the CFD counterparty in respect of electricity generation during the rate period.”.