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Regulation 2 Amendment

Original text. Later amendments are not shown.

(1)

The Electricity Market Reform (General) Regulations 2014f1 are amended as follows.

(2)

At the appropriate places in regulation 2 (Interpretation) insert the following definitions—

  • ““FMS procedures” means the procedures agreed, or to be agreed, between the parties to a CFD or retained investment contract, further to the terms and conditions of that contract to ensure compliance by the generator party with the FMS obligations;”;

  • ““FMS compliance and enforcement” means the terms and conditions of a CFD or retained investment contract by virtue of which the relevant party monitors compliance with, and enforcement of, the FMS procedures or the FMS obligations;”;

  • ““FMS obligations” means the terms and conditions of a CFD or retained investment contract by virtue of which the generator party is required to—

    1. (a)

      measure the amount of fuel used by the generating station which is subject to that contract;

    2. (b)

      sample the content of such fuel; and

    3. (c)

      provide information to the relevant party in relation to such measurement and sampling;”;

  • ““generator party” means a party to a CFD or a retained investment contract other than the relevant party;”;

  • ““relevant party” means—

    1. (a)

      in relation to a CFD, the CFD counterparty which is party to that contract;

    2. (b)

      in relation to a retained investment contract, the Secretary of State;”;

  • ““retained investment contract” means an investment contract other than a transferred investment contract”;

  • ““sustainability obligations” means the terms and conditions of a CFD or retained investment contract by virtue of which requirements are imposed on the generator party in relation to—

    1. (a)

      the use of bioliquids, solid biomass or gaseous biomass in the generation of electricity; and

    2. (b)

      the provision of information to the relevant party concerning such use;”;

  • ““transferred investment contract” means an investment contract which has been transferred to a CFD counterparty by virtue of paragraph 16(1) of Schedule 2 to the Act;”.

(3)

In regulation 6 (Provision of information by a CFD counterparty to the delivery body)—

(a)

in paragraphs (4) and (8)(a), for “an eligible generator who is a party to a CFD” substitute “a generator party”; and

(b)

in paragraph (8)(b), for “eligible generator” substitute “generator party”.

(4)

In regulation 7 (Provision of information by generators to the delivery body)—

(a)

in paragraph (1)(c) for “an eligible generator who is a party to a CFD (“a relevant generator”)” substitute “a generator party”; and

(b)

in paragraphs (2), (4), (5), (6) and (7) for “relevant generator” substitute “generator party”.

(5)

After regulation 15 (Restricted liability in damages) insert—

“PART 5

Advice arrangements and transferred investment contracts

Provision of advice by the Authority

16.
(1)

The Authority may enter into arrangements for the purpose of offering advice to a relevant party in respect of any of the matters in paragraph (2).

(2)

The matters referred to in paragraph (1) are—

(a)

FMS procedures, including any contemplated amendments to such procedures;

(b)

FMS compliance and enforcement;

(c)

monitoring compliance with, and enforcement of, sustainability obligations.

Investment contracts

17.
(1)

A transferred investment contract is to be treated as a CFD for the purposes of all provision made by Chapter 2 of Part 2 of the Act except for any provision made by sections 10 to 16 of that Act.

(2)

Except in Part 3, any reference in these Regulations to a CFD is to be treated as including reference to a transferred investment contract.”.

Annotations

Footnotes

f1

S.I. 2014/2013.