# The Electricity Capacity (Amendment) Regulations 2016, Paragraph 33: Paragraph 5 (calculation of settlement period penalty)


(1) In paragraph 5(2), for “PRix” substitute “PRij”.
(2) After paragraph 5(2) insert—
“(2A) For the purpose of sub-paragraph (2), “PRij” is the penalty rate in pounds per MWh applying to CMU i in respect of settlement period j, and is to be calculated in accordance with the formula—
PR = ij ∑ ( PR × N ICO ijN ) N ∑ I N CO ijN
where—
“ICOijN” is the whole or a part of any capacity obligation COzx applying to CMU i in settlement period j, and
“PRN” is the penalty rate applying to that capacity obligation.”.
(3) For paragraph 5(3) substitute—
“(3) For the purpose of sub-paragraph (2A), PRN is to be calculated in accordance with the formula—
P R N =P E zx ×( 1 24 ) .”.
(4) In paragraph 5(4), for the definition of “PEix” substitute—
““PEzx” means the price in pounds per MW determined for COzx in accordance with paragraph 3(4) to (6)”.

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Source: https://www.legislation.gov.uk/uksi/2016/742/schedule/1/paragraph/33 (the official version)
Page: https://openlegislation.uk/electricity-capacity-amendment-regulations-2016/schedule-1/paragraph-33
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.