Regulation 12 Amendments to regulation 14 (adjustments for banking and borrowing)

in paragraph (1), for “2, 3, 4 and 5” substitute “2 to 7”;

in paragraph (3)(b)(iii), for “year 5” substitute “years 5, 6 and 7”;

after paragraph (3) insert—

“(3A)

For scheme years 6 and 7, a compulsory scheme electricity supplier must, within the period specified in paragraph (3B), notify the Authority of the number of prescribed rebates provided by the supplier under Chapter 2 in the scheme year which are undelivered as at the date of the notification.

(3B)

The period specified for the purposes of paragraph (3A) is—

(a)

for scheme year 6, the period beginning on 1st July 2017 and ending on 30th September 2017;

(b)

for scheme year 7, the period beginning on 1st April 2018 and ending on 31st August 2018.

(3C)

In scheme year 7, whether or not an adjustment is also made under paragraph (1), the Authority must adjust each supplier’s non-core spending obligation by adding F, where F is £140 multiplied by the total number of prescribed rebates provided, or treated as being provided, by the supplier in scheme year 6 which the supplier has notified under regulation 9(7) and paragraph (3A) as undelivered.”;

in paragraph (4), after “4 and 5” insert “and by 31st October in scheme year 7”;

after paragraph (4) insert—

“(5)

In scheme year 6, the Authority must notify each compulsory scheme electricity supplier of the matters referred to sub-paragraphs (a) and (b) of paragraph (4) by 30th September 2016, or by 2 months after the third commencement date, whichever is the later. ”.