Regulation 42 Timing and content of CFD notifications and noticesI1

England, Wales and Scotland

(1)

The delivery body must comply with this regulation—

(a)

where a proceed notice applies, as soon as practicable after the period specified in regulation 38(2) to receive a re-run direction or a halt direction has expired;

(b)

where a proceed direction applies, in accordance with the time period in that notice.

(2)

The delivery body must in respect of each successful application—

(a)

concerning a phased offshore wind CFD unit, give a CFD notification in respect of each phase; or

(b)

where sub-paragraph (a) does not apply, give a CFD notification.

(3)

A CFD notification must state the final strike price applicable to the successful application and include such information—

(a)

supplied by the applicant to the delivery body with the application; or

(b)

as may be contained in the F1contract allocation framework,

which enables the CFD counterparty to complete the terms and conditions applicable to the intended CFD.

F2(3A)

The delivery body must, when it gives a CFD notification, inform—

(a)

the relevant applicant; and

(b)

the Secretary of State,

of the CFD unit to which the CFD notification relates.

(3B)

The delivery body must inform the Secretary of State when it gives the final CFD notification for an allocation round.

(4)

Paragraph (5) applies to each qualifying application which is not a successful application, other than a pending application.

(5)

Where this paragraph applies, the delivery body must give a notice to each applicant in respect of the qualifying application made by the applicant which states—

(a)

that a CFD notification is not given in respect of the qualifying application; and

(b)

the reason why a CFD notification is not given.

Annotations

Textual amendments

F1: Words in reg. 42(3)(b) substituted (13.6.2024) by The Contracts for Difference (Sustainable Industry Rewards) Regulations 2024 (S.I. 2024/710), regs. 1(1), 45
F2: Reg. 42(3A)(3B) inserted (15.4.2026) by The Contracts for Difference (Sustainable Industry Rewards and Contract Budget Notice Amendments) Regulations 2026 (S.I. 2026/411), regs. 1(1), 15

Commencement

I1: Reg. 42 in force at 1.8.2014, see reg. 1(1)