Regulation 20 Supply below market price: additional statements to be furnished to prescribed person

(1)

If any calculation in accordance with regulation 19 produces an amount which is higher than the comparable amount in the statement mentioned in regulation 12, the licensed supplier shall furnish the Director with a statement setting out–

(a)

any price below the market price which he is charging for any electricity within the relevant category in question;

(b)

the manner in which that price has been calculated; and

(c)

any reasons which the supplier may have to justify a belief on his part that it is appropriate in all the circumstances for amounts payable by him in respect of the levy to be calculated by reference to that price.

(2)

The statement mentioned in paragraph (1) shall be furnished to the Director at the same time as the licensed supplier furnishes him with the statement in accordance with regulation 12.

(3)

The licensed supplier shall furnish the Director with a further statement on each occasion when there is a change in any matter set out in the statement mentioned in paragraph (1).

(4)

A statement under paragraph (3) shall set out the change which has taken place, and the reasons for that change.