# The Contracts for Difference (Standard Terms) Regulations 2014, Regulation 3: Provision to be included in standard terms

Extent: E+W+S

(1) The standard terms issued under section 11(1) of the Act or revised under section 11(2) of the Act must set out—
(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 ...;
(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);
(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;
(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;
(d) the way in which a reference price is to be determined;
(e) the way in which a strike price is to be adjusted according to inflation;
(f) the way in which the amount of low carbon electricity generation produced by a generating facility is to be determined;
(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;
(h) which circumstances allow a generator to reduce the capacity of its generating facility;
(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;
(j) the way in which the amount of compensation payable or a change to a strike price under paragraph (i) is to be determined;
(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 ...;
(k) which time limits in a CFD may be extended where force majeure prevents a party from complying with them;
(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;
(m) the way in which the parties to a CFD may amend a CFD;
(n) a mechanism by which disputes between the parties to a CFD are to be resolved;
(o) which circumstances allow the CFD counterparty to terminate a CFD;
(p) which circumstances require a generator to make a payment to the CFD counterparty following termination of a CFD; and
(q) the way in which the amount payable under paragraph (p) is to be determined.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2014/2012/regulation/3 (the official version)
Page: https://openlegislation.uk/contracts-for-difference-standard-terms-regulations-2014/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.