Regulation 9 Amendment to regulation 7

for paragraphs (2) to (4) substitute—

“(2)

For the purposes of paragraph (1), the interim reconciliation payment is to be calculated as follows—

$$\begin{gathered} Interim Reconciliation Payment = Supplier Commitment – \\ (VMS \times Aggregate Supplier Commitment) \end{gathered}$$

where—

1. (a)

   “Supplier Commitment” is, in this regulation, the projected Warm Home Discount liability, calculated by multiplying £150 with the number of persons specified in the standard rebate notices for that scheme electricity supplier issued to that supplier in relation to that scheme year added together with the total of the original non-core spending obligation for that supplier;

2. (b)

   “VMS” is the latest volumetric market share, calculated in accordance with the formula set out in Regulation 5(3);

3. (c)

   “Aggregate Supplier Commitment” is the total of the Supplier Commitments across all scheme electricity suppliers.

(3)

Where the interim reconciliation payment calculation set out in paragraph (2) results in a positive amount, the scheme electricity supplier is entitled to receive an interim reconciliation payment equal to that amount.

(4)

Where the interim reconciliation payment calculation set out in paragraph (2) results in a negative amount, the scheme electricity supplier must make a payment equal to that amount to the Authority.”;

omit paragraph (5).