# The Electricity Capacity (Supplier Payment etc.) Regulations 2014, Regulation 2: Interpretation Extent: E+W+S (1) In these Regulations— “the Act” means the Energy Act 2013; “EA 1989” means the Electricity Act 1989; “the Principal Regulations” means the Electricity Capacity Regulations 2014; “capacity market stage 2 credit default” has the meaning given by paragraph (2); “capacity market supplier charge” means the charge payable by electricity suppliers to the Settlement Body under regulation 6(1); “CM EII excluded electricity” means any amount of electricity determined as such in accordance with regulation 3 of the CM Excluded Electricity Regulations; “CM Excluded Electricity Regulations” means the Electricity Capacity (Supplier Payment etc.) (Amendment and Excluded Electricity) Regulations 2024; “credit cover” has the meaning given in regulation 53(3) of the Principal Regulations; “credit default register” means the register maintained by the Settlement Body under regulation 30; “creditor” means an electricity supplier who is entitled to receive a payment from the Settlement Body; “draw down” has the meaning given in regulation 53(3) of the Principal Regulations; “electricity supplier” means— (a)a person supplying electricity to premises in Great Britain under a supply licence; or (b)a person who has supplied electricity to premises in Great Britain under a supply licence and who, by virtue of regulation 16, is liable to make or entitled to receive a payment following the termination of that supply licence; “financial year” means a period of one year commencing with 1st April; ... “invoiced amount” means the total amount payable by a payer as stated in an invoice issued to that payer under regulation 6, 9, 20 or 21; “late payment interest”... has the meaning given in regulation 11(3); “monthly capacity market supplier charge” means the charge payable by electricity suppliers to the Settlement Body under regulation 6(3) or (4); “mutualisation credit” has the meaning given in regulation 7(6); ... “payer” means an electricity supplier to whom an invoice is issued under regulation 6, 9, 20 or 21; “payment due date”, in relation to an invoiced amount, means the day specified in the invoice in accordance with regulation 5(2) as the day by which it is to be paid; “penalty residual supplier amount” has the meaning given in regulation 8(1); “period of high demand” means 4 p.m. to 7 p.m. on any working day in November, December, January or February; “reconciliation payment” means a payment under Part 5; “reconciliation run” means the process of recalculating and redetermining the amounts of payments due to or from electricity suppliers set out in Part 5; “relevant arrangements” means arrangements which are approved by the Settlement Body under paragraph (2) or (3)(a) of regulation 4 of the CM Excluded Electricity Regulations; “relevant demand” in relation to an electricity supplier (“S”) means the amount of electricity (expressed in MWh) supplied by S to premises in Great Britain; “relevant financial year” means a financial year commencing in 2015 or in any subsequent year; “settlement costs” means any costs incurred by the Settlement Body in connection with the performance of any function conferred on it by these Regulations, the Principal Regulations or capacity market rules, and includes the cost of payments made by the Settlement Body to any person who provides services to it in connection with the performance of its functions; “settlement costs levy” means the levy payable by electricity suppliers to the Settlement Body under regulation 9 to meet its settlement costs; “supplier credit cover” means credit cover provided, or required to be provided, by an electricity supplier under regulation 28; “supply”, and cognate terms, are to be interpreted in accordance with the meaning given to “supply” in section 4(4) of EA 1989; “supply licence” means a licence granted or treated as granted under section 6(1)(d) of EA 1989. (2) For the purposes of these Regulations an electricity supplier is in capacity market stage 2 credit default, in relation to a month of a delivery year, if an entry in respect of that electricity supplier and that month has been made on the credit default register under regulation 29(2). (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) In these Regulations, the following expressions have the meanings given in regulation 2(1) of the Principal Regulations— ... “capacity agreement”; “capacity committed CMU”; “capacity payment”; “capacity provider penalty charge”; “capacity year”; “delivery year”; ... “MWh”; “Settlement Body”; “working day”. (6) Any reference in these Regulations to an amount to be paid or provided is a reference to an amount in pounds sterling and rounded to the nearest whole penny with any half of a penny being rounded upwards. (7) For the purposes of these Regulations, an invoice, credit note or other document is issued or given when it is given or treated as given in accordance with the provisions of Schedule 2 to the Principal Regulations. (8) Where anything is required or permitted by these Regulations to be done on or by a working day , unless specified otherwise— (a) such thing must be done by 5.00 p.m. on that day; and (b) if the thing is done— (i) after 5.00 p.m. on a working day; or (ii) on a day which is not a working day, it is to be treated as having been done on the next working day. --- Source: https://www.legislation.gov.uk/uksi/2014/3354/regulation/2 (the official version) Page: https://openlegislation.uk/electricity-capacity-supplier-payment-etc-regulations-2014/regulation-2 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.