Paragraph 17 Regulation 59 (requirement to provide applicant credit cover)

(1)

In regulation 59—

(a)

in paragraph (1), for “paragraphs (1A) and” substitute “paragraph”;

(b)

omit paragraph (1A); and

(c)

in paragraph (1B), after “demand side response CMU” insert “or an interconnector CMU”.

(2)

For regulation 59(2)(a) substitute—

“(a)
in the case of an application to prequalify for a T-4 auction or a T-1 auction—

(i)
if CMU i is an unproven demand side response CMU, an amount equal to £5,000 per MW of the de-rated capacity of CMU i; and

(ii)
if CMU i is not an unproven demand side response CMU, an amount equal to £10,000 per MW of the de-rated capacity of CMU i;”.

(3)

After regulation 59(3) insert—

“(4)
In circumstances specified in capacity market rules, the applicant credit cover provided under paragraph (1) in respect of a new build CMU must, where twelve months have elapsed after auction results day, be increased by the capacity provider to an amount equal to £15,000 per MW of de-rated capacity.

(5)
The increased credit cover required to be provided under paragraph (4) must be provided within 15 working days after the end of that twelve-month period.

(6)
For the purposes of paragraph (4)—

(a)
“new build CMU” has the meaning given in the Rules; and

(b)
“auction results day” means the date on which the auction results are published under regulation 25(1)(c).”.