{
  "url": "https://openlegislation.uk/contracts-for-difference-standard-terms-regulations-2014/regulation-3",
  "json_url": "https://openlegislation.uk/contracts-for-difference-standard-terms-regulations-2014/regulation-3.json",
  "legislation": "uksi/2014/2012",
  "legislation_title": "The Contracts for Difference (Standard Terms) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/contracts-for-difference-standard-terms-regulations-2014",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Provision to be included in standard terms",
  "text": "(1) The standard terms issued under section 11(1) of the Act or revised under section 11(2) of the Act must set out—\n(a) that where a strike price is higher than a reference price, the CFD counterparty must pay the generator the difference between the strike price and the reference price ...;\n(aa) any circumstances in which the CFD counterparty is not required to pay the generator the amount, or the full amount, specified under paragraph (a);\n(b) that where a reference price is higher than a strike price, the generator must pay the CFD counterparty the difference between the reference price and the strike price;\n(c) that the amount payable under paragraph (a) or (b) must be calculated by reference to the amount of low carbon electricity generation produced by a generating facility;\n(d) the way in which a reference price is to be determined;\n(e) the way in which a strike price is to be adjusted according to inflation;\n(f) the way in which the amount of low carbon electricity generation produced by a generating facility is to be determined;\n(g) that sums must not be paid by the CFD counterparty under a CFD where those sums are not allocated to that CFD in accordance with the Contracts for Difference (Supplier Obligation) Regulations 2014;\n(h) which circumstances allow a generator to reduce the capacity of its generating facility;\n(i) which changes in law will cause compensation to be payable by one party to the other party or cause a change to a strike price;\n(j) the way in which the amount of compensation payable or a change to a strike price under paragraph (i) is to be determined;\n(ja) which circumstances will allow for a payment under a CFD to be adjusted by reference to the generator’s fulfilment, or non-fulfilment, of the obligations set out in a sustainable industry reward statement ...;\n(k) which time limits in a CFD may be extended where force majeure prevents a party from complying with them;\n(l) which circumstances require a generator to receive the consent of the CFD counterparty before transferring a CFD or assigning its rights and obligations under a CFD;\n(m) the way in which the parties to a CFD may amend a CFD;\n(n) a mechanism by which disputes between the parties to a CFD are to be resolved;\n(o) which circumstances allow the CFD counterparty to terminate a CFD;\n(p) which circumstances require a generator to make a payment to the CFD counterparty following termination of a CFD; and\n(q) the way in which the amount payable under paragraph (p) is to be determined.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 3 renumbered as reg. 3(1) (20.7.2015) by The Contracts for Difference (Standard Terms) (Amendment) Regulations 2015 (S.I. 2015/1425), regs. 1, 2(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 3(1)(a) omitted (1.3.2017) by virtue of The Contracts for Difference (Standard Terms) (Amendment) Regulations 2017 (S.I. 2017/112), regs. 1, 2(3)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Reg. 3(1)(aa) inserted (1.3.2017) by The Contracts for Difference (Standard Terms) (Amendment) Regulations 2017 (S.I. 2017/112), regs. 1, 2(4)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Reg. 3(1)(ja) inserted (13.6.2024) by The Contracts for Difference (Sustainable Industry Rewards) Regulations 2024 (S.I. 2024/710), regs. 1(1), 66"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. 3(1)(ja) omitted (15.4.2026) by virtue of The Contracts for Difference (Sustainable Industry Rewards and Contract Budget Notice Amendments) Regulations 2026 (S.I. 2026/411), regs. 1(1), 25"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Reg. 3(2) omitted (1.3.2017) by virtue of The Contracts for Difference (Standard Terms) (Amendment) Regulations 2017 (S.I. 2017/112), regs. 1, 2(2)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 3 in force at 1.8.2014, see reg. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2014/2014."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/2012/regulation/3",
    "retrieved_at": "2026-10-29T00:07:58.103578+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}