Article 66 Interpretation

In this Part—

• “buy-out fund” means the fund held by the Authority on the 1st September in the settlement period, being the aggregate of—

  1. (a)

     amounts received by the Authority under article 67 relating to the renewables obligation for the relevant period,

  2. (b)

     amounts held by the Authority by virtue of articles 70(4)(b), 71(4), 76(5) and 77(6)(b), and

  3. (c)

     any interest earned on those amounts;

• “compliant UK supplier” means a UK supplier which, at the end of the late payment period, has discharged or is treated as if it had discharged in full every UK renewables obligation imposed on it in respect of the relevant period;

• “GBRO costs” means the costs which have been or are expected to be incurred by the Authority in connection with the performance of any of its functions conferred by or under sections 32 to 32M of the Act during the settlement period;

• “instalment payment” is to be construed in accordance with article 74(5);

• “late payment fund” is the fund held by the Authority on the 1st November of the settlement period, being the aggregate of—

  1. (a)

     amounts received by the Authority during that period under article 68 relating to the renewables obligation for the relevant period, and

  2. (b)

     any interest earned on those amounts;

• “late payment period” means the period beginning with the 1st September and ending with the 31st October in the settlement period;

• “mutualisation fund” means the aggregate at any given time of the amounts (excluding any amounts repaid under article 76(2)) received by the Authority under articles 74 and 76 (together with any interest earned on those amounts) in relation to the relevant period;

• “mutualisation period” means the obligation period immediately following the settlement period;

• “NIRO costs” means the costs which have been or are expected to be incurred by the Northern Ireland authority in connection with the performance of any of its functions conferred by or under Articles 52 to 55F of the Energy (Northern Ireland) Order 2003 during a period which, in any order made under those Articles, corresponds to the settlement period;

• “non-compliant UK supplier” means a UK supplier which, at the end of the late payment period, has not discharged or is not treated as if it had discharged in full every UK renewables obligation imposed on it in respect of the relevant period;

• “recalculated supplier payment” is to be construed in accordance with article 75(5);

• “the relevant period” is to be construed in accordance with article 67(1);

• “relevant shortfall” is to be construed in accordance with article 72(3);

• “relevant supplier” means an electricity supplier which was a designated electricity supplier in the relevant period and which at the end of the late payment period had discharged or is treated as if it had discharged the whole or part of its renewables obligation for the relevant period;

• “retail prices index” means—

  1. (a)

     the general index of retail prices (for all items) published by the Office of National Statistics, or

  2. (b)

     where the index is not published for a month, any substituted index or figures published by the Office of National Statistics;

• “settlement period” is to be construed in accordance with article 67(1);

• “shortfall” is to be construed in accordance with article 72(2);

• “supplier payment” is to be construed in accordance with article 74(3);

• “total mutualisation sum” is to be construed in accordance with article 73;

• “total UK buy-out fund” means the fund existing on the 1st September of the settlement period, being the aggregate of—

  1. (a)

     the buy-out fund held on that date,

  2. (b)

     any fund provided for in a renewables obligation order made by the Scottish Ministers which corresponds to the buy-out fund held on that date, and

  3. (c)

     any fund provided for in an order made under Articles 52 to 55F of the Energy (Northern Ireland) Order 2003 which corresponds to the buy-out fund held on that date;

• “UK renewables obligation” means—

  1. (a)

     the renewables obligation imposed by article 7 of this Order,

  2. (b)

     a renewables obligation imposed by a renewables obligation order made by the Scottish Ministers, or

  3. (c)

     a renewables obligation imposed on Northern Ireland suppliers in an order made under Articles 52 to 55F of the Energy (Northern Ireland) Order 2003;

• “UK supplier” means—

  1. (a)

     a designated electricity supplier,

  2. (b)

     any electricity supplier on which a UK renewables obligation is imposed under a renewables obligation order made by the Scottish Ministers, and

  3. (c)

     any designated electricity supplier within the meaning of Article 52(2) of the Energy (Northern Ireland) Order 2003.

In this Part, references to the late payment period, the mutualisation period, the relevant period and the settlement period, when used in the context of a UK supplier subject to a UK renewables obligation, are to be construed (where the UK supplier is not a designated electricity supplier)—

Any sum payable by suppliers under articles 67(1), 68(6), 74 or 76(1) is to be rounded to the nearest penny, with any half of a penny being rounded upwards.