Regulation 16 Consequences of termination of licence

(1)

This regulation applies if the supply licence of an electricity supplier (“S”) is terminated.

(2)

Notwithstanding the termination of S’s supply licence—

(a)

S remains liable to pay any invoices (whether issued before or after the termination of its licence) for amounts payable—

(i)

under regulation 9, in respect of the financial year in which its supply licence is terminated or any preceding financial year; or

(ii)

under any other provision of these Regulations, in respect of the delivery year in which its supply licence is terminated or any preceding delivery year;

(b)

S remains liable to provide supplier credit cover under Part 6 in respect of each month of the delivery year in which its supply licence is terminated; and

(c)

S remains entitled, subject to paragraph (3), to receive any payment—

(i)

under regulation 10, is respect of the financial year in which its supply licence is terminated or any preceding financial year, or

(ii)

under any other provision of these Regulations, in respect of the delivery year in which its supply licence is terminated or any preceding delivery year,

to which it would have been entitled if its licence had not been terminated.

(3)

Any payment to which S is entitled following the termination of its supply licence must be made in the last scheduled reconciliation run for the delivery year in which its supply licence is terminated.

(4)

In this regulation, references to a licence being terminated include the licence—

(a)

being revoked by the Authority;

(b)

being surrendered by the licensee; or

(c)

expiring by effluxion of time.