OpenLegislation

Regulation 6 Setting the interim levy rate

Original text. Later amendments are not shown.

(1)

The CFD counterparty must, in respect of every quarterly obligation period determine an interim levy rate which is to apply for that period.

(2)

The CFD counterparty must determine an interim levy rate for a quarterly obligation period (“the rate period”) before—

(a)

where the rate period commences on 1st April 2015, 1st January 2015,

(b)

for any other rate period, the commencement of the quarterly obligation period which immediately precedes the rate period.

(3)

Where the CFD counterparty has determined an interim levy rate for a quarterly obligation period it must publish a notice setting out that rate and must—

(a)

issue that notice to every electricity supplier, and

(b)

issue that notice to any person who becomes an electricity supplier during that period.

(4)

Subject to paragraph (5), the interim levy rate for a quarterly obligation period is to be determined as the amount given by—

EOC−EOI EOS

where—

  • EOC is the estimated quarterly obligation period payment cost, estimated in accordance with regulation 7(1);

  • EOI is the estimated quarterly obligation period income, estimated in accordance with regulation 7(3); and

  • EOS is the estimated quarterly obligation period electricity supply, estimated in accordance with regulation 7(4).

(5)

Where the amount given by the calculation in paragraph (4) in relation to a quarterly obligation period is less than zero, the interim levy rate shall be determined as zero for that period.