Regulation 14 Adjustments for banking and borrowingI1

In F1scheme years 2 to 11, if the amount of spending incurred under this Part (as determined by the Authority in accordance with regulation 29(d)) by a compulsory scheme electricity supplier in the preceding scheme year (“D_t-1”) is greater or less than the supplier’s non-core spending obligation for the preceding scheme year (“S_t-1”), the Authority must adjust the supplier’s non-core spending obligation for the current scheme year (“S”) in accordance with paragraphs (2) and (3).

If D_t-1 is less than S_t-1, S is to be adjusted by adding (S_t-1 – D_t-1).

If D_t-1 is greater than S_t-1, S is to be adjusted by subtracting—

For F7scheme years 6 to 11, a compulsory scheme electricity supplier must, within the period specified in paragraph (3B), notify the Authority of the number of prescribed rebates provided by the supplier under Chapter 2 in the scheme year which are undelivered as at the date of the notification.

The period specified for the purposes of paragraph (3A) is—

In scheme years 7 to 11, whether or not an adjustment is also made under paragraph (1), the Authority must adjust each supplier’s non-core spending obligation by adding F, where F is £140 multiplied by the sum of—

The Authority must notify each compulsory scheme electricity supplier by 30th September in scheme years 2, 3 F10, 4 and 5 F11and by 31st October in F12scheme years 7, 9 and 10—

In scheme year 6, the Authority must notify each compulsory scheme electricity supplier of the matters referred to sub-paragraphs (a) and (b) of paragraph (4) by 30th September 2016, or by 2 months after the third commencement date, whichever is the later.

In scheme year 8, the Authority must notify each compulsory scheme electricity supplier of the matters referred to in sub-paragraphs (a) and (b) of paragraph (4) by 30th September 2018, or within 2 months of the fourth commencement date, whichever is the later.

In scheme year 11, the Authority must notify each compulsory scheme electricity supplier of the matters referred to in sub-paragraphs (a) and (b) of paragraph (4) by 30th September 2021, or within two months of the fifth commencement date, whichever is the later.