The Electricity Capacity (Amendment) Regulations 2016

Paragraph 5 (calculation of settlement period penalty)

33.—(1) In paragraph 5(2), for “PR_ix” substitute “PR_ij”.

(2) After paragraph 5(2) insert—

“(2A) For the purpose of sub-paragraph (2), “PR_ij” is the penalty rate in pounds per MWh applying to CMU i in respect of settlement period j, and is to be calculated in accordance with the formula—

where—

“ICO_ijN” is the whole or a part of any capacity obligation CO_zx applying to CMU i in settlement period j, and

“PR_N” is the penalty rate applying to that capacity obligation.”.

(3) For paragraph 5(3) substitute—

“(3) For the purpose of sub-paragraph (2A), PR_N is to be calculated in accordance with the formula—

.”.

(4) In paragraph 5(4), for the definition of “PE_ix” substitute—

““PE_zx” means the price in pounds per MW determined for CO_zx in accordance with paragraph 3(4) to (6)”.