Regulation 23 Draw down of credit cover

Paragraph (2) applies where an electricity supplier (“S”) does not pay an invoiced amount by the date required under regulation 22(2).

Where this paragraph applies, the Settlement Body must by T-9 draw down on any existing credit cover of S for the amount due.

In paragraph (2), “existing credit cover” means the supplier credit cover (if any) of S which applies at the time the draw down is made.