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The Contracts for Difference (Counterparty Designation) Order 2014

S.I. 2014/1709 · Made 1 July 2014

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Electricity

Made 1st July 2014

Coming into force 1st August 2014

The Secretary of State, in exercise of the powers conferred by section 7 of the Energy Act 2013f1, makes the following Order:

Annotations to the whole text

Footnotes

f1

2013 c. 32.

Contents

  1. 1Citation and commencement
  2. 2Low Carbon Contracts Company Ltd
  3. Signature
  4. Explanatory note

1Citation and commencement

This Order may be cited as the Contracts for Difference (Counterparty Designation) Order 2014 and comes into force on 1st August 2014.

2Low Carbon Contracts Company Ltd

Low Carbon Contracts Company Ltd, a company registered in England and Wales with company registration number 08818711, being an eligible personf1, is designated with that person’s consent under section 7 of the Energy Act 2013 as a counterparty for contracts for difference.

Signature

Michael Fallon

Minister of State

Department of Energy and Climate Change

1st July 2014

Explanatory note

(This note is not part of the Order)

By section 7 of the Energy Act 2013 (c.32), the Secretary of State may designate an eligible person as a counterparty for contracts for difference (a “CFD counterparty”), where that person consents to the designation. This Order designates Low Carbon Contracts Company Ltd (company registration number 08818711) as a CFD counterparty. This is the first designation made under section 7 of the Energy Act 2013.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.