Regulation 62 Supplier credit cover: modification

Regulation 24 (recalculation of credit amounts) of the Supplier Payment Regulations, applies as if—

Regulation 25 (reconciliation credit notes and payment) of the Supplier Payment Regulations applies as if, after “regulation 20,”, there were inserted “20A,”.

Regulation 27 (calculation of supplier credit cover) of the Supplier Payment Regulations applies as if, after paragraph (3), there were inserted—

“(4)

If, at the time the Settlement Body makes a determination under paragraph (1)(a) or (2)(a), a month to which the determination relates is (or may become) a standstill month, the Settlement Body must—

(a)

determine the amount of credit cover an electricity supplier would be required to provide for that month if it were not a standstill month; and

(b)

record in the notice given to the electricity supplier under paragraph (1)(c) or (2)(c) that the supplier is not required to provide credit cover in respect of a month which is a standstill month.”.

Regulation 28 (requirement to provide supplier credit cover) of the Supplier Payment Regulations applies as if, after paragraph (4), there were inserted—

“(5)

Paragraphs (1) to (4) are subject to paragraph (6).

(6)

An electricity supplier who has been given notice of a schedule of monthly credit cover is not required to provide credit cover to the Settlement Body in respect of a month which is a standstill month.”.