Regulation 3 Provision to be included in standard terms

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;

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;

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;

the way in which a reference price is to be determined;

the way in which a strike price is to be adjusted according to inflation;

the way in which the amount of low carbon electricity generation produced by a generating facility is to be determined;

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^f1;

which circumstances allow a generator to reduce the capacity of its generating facility;

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;

the way in which the amount of compensation payable or a change to a strike price under paragraph (i) is to be determined;

which time limits in a CFD may be extended where force majeure prevents a party from complying with them;

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;

the way in which the parties to a CFD may amend a CFD;

a mechanism by which disputes between the parties to a CFD are to be resolved;

which circumstances allow the CFD counterparty to terminate a CFD;

which circumstances require a generator to make a payment to the CFD counterparty following termination of a CFD; and

the way in which the amount payable under paragraph (p) is to be determined.