Regulation 32 Use of payments

Where the CFD counterparty receives a payment from an electricity supplier under F1regulation 23, the CFD counterparty may only use that payment for the purposes of meeting its costs.

Where the CFD counterparty receives a payment from an electricity supplier under any regulation, other than F2regulation 23, the CFD counterparty may only use that payment for the purposes of making CFD counterparty paymentsF3, making any repayments due to the Secretary of State in relation to any SoS funds which the CFD counterparty must repay to the Secretary of State at such time and in such amount as may be agreed with the CFD counterparty or making payments to electricity suppliers under these Regulations.

In this regulation, “costs” means any costs incurred by the CFD counterparty in connection with the performance by it of any function conferred on it by or by virtue of Chapter 2 of Part 2 of the Act.