Regulation 20 Monthly reconciliation runs: recalculation of payments

(1)

By no later than T-21 the Settlement Body must make a redetermination of the amount of the monthly capacity market supplier charge payable by each electricity supplier in respect of month M.

(2)

For the purpose of paragraph (1), the Settlement Body must remake the calculations under paragraphs 2 to 4 of Schedule 1.

(3)

For each electricity supplier (“S”), the Settlement Body must calculate the difference between—

(a)

the amount of the capacity market supplier charge S has paid in respect of month M before the redetermination under paragraph (1) is made (“SCP”); and

(b)

the amount redetermined for S under paragraph (1) (“SCRDA”).

(4)

The Settlement Body must calculate the total amount of reconciliation payments payable by the Settlement Body (“TAP”).

(5)

TAP must be calculated as the sum of the differences between SCP and SCRDA for each electricity supplier for which SCRDA is less than SCP.

(6)

The Settlement Body must, subject to paragraph (7)—

(a)

if SCRDA is greater than SCP, issue to S an invoice for the amount of the difference between SCRDA and SCP; and

(b)

if SCRDA is less than SCP, subject to regulation 24, issue to S a credit note for the amount of the difference between SCRDA and SCP; and

(c)

if SCRDA is equal to SCP, give S a notice that no reconciliation payment is due to or from S.

(7)

If S is entitled to a mutualisation credit under regulation 7(6) and (7), the Settlement Body must adjust the amount of the invoice or credit note to be issued under paragraph (6) by the amount of that credit.