{
  "url": "https://openlegislation.uk/draft-electricity-capacity-regulations-2014/regulation-58",
  "json_url": "https://openlegislation.uk/draft-electricity-capacity-regulations-2014/regulation-58.json",
  "legislation": "ukdsi/2014/9780111116852",
  "legislation_title": "The Electricity Capacity Regulations 2014",
  "legislation_url": "https://openlegislation.uk/draft-electricity-capacity-regulations-2014",
  "path": "regulation/58",
  "kind": "regulation",
  "number": "58",
  "heading": "Release of credit cover",
  "text": "(1) This paragraph applies if A has provided credit cover and one of the following circumstances applies—\n(a) A is no longer required, under regulation 60, to maintain any credit cover;\n(b) A has provided further credit cover under regulation 57(3) to replace the credit cover previously provided, and the Settlement Body has approved the replacement credit cover; or\n(c) the amount of credit cover provided by A and approved by the Settlement Body exceeds the required amount.\n(2) Where paragraph (1) applies—\n(a) A may, by giving notice in writing to the Settlement Body, request the Settlement Body to release—\n(i) if paragraph (1)(a) applies, all or part of the credit cover;\n(ii) if paragraph (1)(b) applies, the credit cover that has been replaced;\n(iii) if paragraph (1)(c) applies, an amount of credit cover not exceeding the amount by which the credit cover referred to in paragraph (1)(c) exceeds the required amount; and\n(b) the Settlement Body must release that amount of credit cover as soon as reasonably practicable.\n(3) Credit cover is released—\n(a) in the case of a cash deposit, by repaying the principal to A; and\n(b) in the case of a letter of credit, by issuing notice to A confirming that the letter of credit is no longer required.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111116852/regulation/58",
    "retrieved_at": "2026-10-30T15:12:43.570912+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."
}