- actual supplier shares
means shares calculated under paragraph 3 of Schedule 1.
- annual reconciliation run
means a reconciliation run under regulation 21 in respect of payments relating to a delivery year;
- ASCRDA
means the amount of the capacity market supplier charge re-determined for S under paragraph (1)(a);
- Bank of England base rate
means—
- 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);
- 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;
- existing credit cover
means the supplier credit cover (if any) of S which applies at the time the draw down is made.
- 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;
- month M
means a month of a delivery year;
- monthly capacity market supplier charge
means the charge payable by electricity suppliers to the Settlement Body under regulation 6(3) or (4);
- monthly reconciliation run
means a reconciliation run under regulation 20 in respect of payments relating to a month of a delivery year;
- 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;
- 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;
- PRSAR
means the penalty residual supplier amount which S has received before the re-determination under paragraph (1) is made;
- PRSARDA
means the amount redetermined for S under paragraph (1)(b);
- 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 financial year
means a financial year commencing in 2015 or in any subsequent year;
- required data
means data which is required to be provided to the Settlement Body under these Regulations, the Principal Regulations or capacity market rules or is provided to the Settlement Body pursuant to the relevant arrangements.
- 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 licence
means a licence granted or treated as granted under section 6(1)(d) of EA 1989.
- the Act
means the Energy Act 2013;
- the Principal Regulations
means the Electricity Capacity Regulations 2014;
- the relevant months
means November to February of the financial year preceding year Y.
- the Supplier Payment Regulations
means the Electricity Capacity (Supplier Payment etc.) Regulations 2014;”
- TMSC
means the total amount of monthly capacity market supplier charges paid by S in respect of year X before the redetermination under paragraph (1) is made, adjusted by adding the amounts of any reconciliation payments paid by S and subtracting the amounts of any reconciliation payments for which credit notes have been issued to S pursuant to monthly reconciliation runs for the months of year X.
- year X
means the delivery year in which month M falls.