The Nuclear Regulated Asset Base Model (Revenue Collection) Regulations 2023

Regulation 2(5)

SCHEDULE

1.  Regulation 2 has effect as if—

(a) every reference to “the revenue collection counterparty”, except the reference in the definition of “letter of credit” in paragraph (1), were to “a revenue collection counterparty”; and

(b) in paragraph (1), the words “to whom it is provided,” appeared after the words “the revenue collection counterparty” in the definition of “letter of credit”.

2.  Regulation 3 has effect as if—

(a) in paragraph (1), the reference to “the revenue collection counterparty” were to “each revenue collection counterparty”;

(b) in paragraph (3), the reference to “a supplier’s RCC period contribution” were to “a supplier’s RCC period contribution in respect of a revenue collection counterparty”;

(c) in paragraph (4), the reference to “the RCC period contribution” were to “the RCC period contribution in respect of a revenue collection counterparty”; and

(d) in paragraphs (3)(b) and (4)(b), each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

3.  Regulation 4 has effect as if—

(a) in paragraph (1)—

(i) the reference to “the RCC period contribution” were to “the RCC period contribution in respect of a revenue collection counterparty”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(b) in paragraph (3), the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

4.  Regulation 5 has effect as if—

(a) each reference to “the revenue collection counterparty” were a reference to “a revenue collection counterparty”; and

(b) in relation to a revenue collection counterparty designated under section 16 of the Act on or after the first payment period start date, there is no requirement for that revenue collection counterparty to determine an interim levy rate in respect of the first quarterly obligation period which commences after its designation.

5.  Regulation 6 has effect as if—

(a) in paragraphs (1), (2) and (3), each reference to—

(i) “the revenue collection counterparty’s” were to “each revenue collection counterparty’s”;

(ii) “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(iii) “revenue collection contracts” were to “revenue collection contracts to which that revenue collection counterparty is a party”; and

(b) in paragraph (4), the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”;

6.  Regulation 7 has effect as if—

(a) in paragraphs (1) and (4), each reference to “the revenue collection counterparty” were to “each revenue collection counterparty”;

(b) in paragraph (2)—

(i) the words “to a revenue collection counterparty” appeared after the words “by a supplier”; and

(ii) the words “which that revenue collection counterparty determined and” appeared after the words “interim levy rate”;

(c) after paragraph (2), there appeared the following provision—

“(2A) Where a revenue collection counterparty has not determined an interim levy rate which applies in relation to a day, there is no requirement to make an interim rate payment to that revenue collection counterparty in respect of that day.”;

(d) in paragraph (4)—

(i) the reference to “The revenue collection counterparty” were to “Each revenue collection counterparty which determines an interim rate in respect of a day in a quarterly obligation period”;

(ii) the reference to “a day in a quarterly obligation period” were to “that day”; and

(iii) the words “to that revenue collection counterparty” appeared after the words “must pay”; and

(e) in paragraphs (5) and (6), the words “to a revenue collection counterparty” appeared after the words “interim rate payment” and each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

7.  Regulation 8 has effect as if—

(a) in paragraph (1)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “regulation applies”; and

(ii) the words “in relation to that revenue collection counterparty” appeared after the words “that day” and after the words “that supplier”;

(b) in paragraphs (2) and (3)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “net levied interim rate payment”;

(ii) the references to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(c) in paragraph (4) the reference to “The revenue collection counterparty” were to “A revenue collection counterparty”;

(d) in paragraph (5)—

(i) the words “to a revenue collection counterparty” appeared after the words “make payment”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(e) in paragraph (6), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the second reference were to “that revenue collection counterparty”;

(f) in paragraph (7)—

(i) the words “to a revenue collection counterparty” appeared after the word “make”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(g) in paragraph (8)—

(i) in subparagraph (a)—

(aa) the words “in relation to a revenue collection counterparty” appeared after the words “in relation to a day”; and

(bb) the words “which that revenue collection counterparty determined and” appeared after the words “interim levy rate”; and

(ii) in subparagraph (b)—

(aa) the words “in relation to a revenue collection counterparty” appeared after the words “in relation to a day”;

(bb) the words “to that revenue collection counterparty” appeared after the words “in respect of that day” in each place they appear; and

(cc) the reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

8.  Regulation 9 has effect as if—

(a) every reference to “the revenue collection counterparty” were a reference to “a revenue collection counterparty”;

(b) in paragraph (1)(a), the words “by it” appeared after the words “to be collected”;

(c) in paragraphs (1)(b) and (3), the words “to it” appeared after the words “reserve payment”; and

(d) in relation to a revenue collection counterparty designated under section 16 of the Act on or after the first payment period start date there is no requirement for that revenue collection counterparty to determine a total reserve amount or the amount of each supplier’s reserve payment in respect of the first quarterly obligation period which commences after its designation, and therefore no such payments are required to be made to it in respect of that period.

9.  Regulation 10 has effect as if—

(a) in paragraph (1), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the second reference were to “that revenue collection counterparty;

(b) in paragraph (2)—

(i) the words “to a revenue collection counterparty” appeared after the words “reserve payment”; and

(ii) the reference to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(c) in paragraph (3)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “in respect of the relevant period”; and

(ii) the words “determined by that revenue collection counterparty” appeared after the words “total reserve amount for that period”.

10.  Regulation 11 has effect as if every reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

11.  Regulation 12 has effect as if—

(a) in paragraph (1)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “(“the rate period”)”; and

(ii) every reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(b) in paragraph (2)—

(i) the words “by a revenue collection counterparty” appeared after the words “paragraph (1)”, and

(ii) the reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(c) in paragraph (3), the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”; and

(d) in paragraph (4)—

(i) the words “determined by a revenue collection counterparty” appeared after the words “adjusted interim levy rate”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

12.  Regulation 13 has effect as if—

(a) in paragraph (1)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “the quarterly obligation period” where those words appear for the first time; and

(ii) the reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(b) in paragraph (2), the references to “the revenue collection counterparty’s” were to “that revenue collection counterparty’s”;

(c) in paragraph (3)—

(i) the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”; and

(ii) the words “to that revenue collection counterparty” appeared after the words “additional reserve payment”;

(d) in paragraph (4)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “An electricity supplier’s additional reserve payment”; and

(ii) the words “determined by that revenue collection counterparty” appeared after the words “the additional total reserve amount”;

(e) in paragraph (5), the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”; and

(f) in paragraphs (6) and (7)—

(i) the words “to a revenue collection counterparty” appeared after the words “additional reserve payment”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

13.  Regulation 14 has effect as if every reference to “the revenue collection counterparty” were to “a revenue collection counterparty” except the reference in paragraph (2), and the second reference in paragraph (6), which are to “that revenue collection counterparty”.

14.  Regulation 15 has effect as if—

(a) in paragraph (1), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and every subsequent reference were to “that revenue collection counterparty”; and

(b) in paragraph (3), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the other reference to it were to “that revenue collection counterparty”.

15.  Regulation 16 has effect as if—

(a) in paragraph (1)—

(i) the words “in relation to a revenue collection counterparty” appeared after the words “by a supplier” and “for that supplier”;

(ii) the reference to “the revenue collection counterparty’s” were to “that revenue collection counterparty’s”; and

(iii) the words “in respect of that revenue collection counterparty” appeared after the words “RCC period contribution”;

(b) in paragraphs (3) and (5), each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(c) in paragraph (3), the words “and a revenue collection counterparty” appeared after the words “an electricity supplier”;

(d) in paragraph (4), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty”;

(e) in paragraph (5), the words “to a revenue collection counterparty” appeared after the words “reconciliation payment”;

(f) in paragraph (6), the words “in relation to a revenue collection counterparty (“the relevant counterparty”)” appeared after the words “net levied amount for a supplier”; and

(g) in paragraph (7)—

(i) in the definition of “the supplier obligation amount”, the words “to the relevant counterparty” appeared after each instance of the words “to make”; and

(ii) in the definition of “the counterparty obligation amount”, each reference to “the revenue collection counterparty” were to “the relevant counterparty”.

16.  Regulation 17 has effect as if—

(a) in paragraph (1), the words “to a revenue collection counterparty,” appeared after the words “make a relevant payment”;

(b) in paragraphs (1) and (2), the references to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(c) in paragraph (5)—

(i) the words “by a revenue collection counterparty” appeared after the words “may only be issued”; and

(ii) each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”;

(d) in paragraph (6)—

(i) the reference to “the revenue collection counterparty” were a reference to “a revenue collection counterparty”; and

(ii) the words “to that revenue collection counterparty” appeared after the words “amount specified in the notice”;

(e) in paragraph (7)—

(i) the words “to a revenue collection counterparty” appeared after the words “mutualisation payment”; and

(ii) the reference in that paragraph to “the revenue collection counterparty” were a reference to “that revenue collection counterparty”.

17.  Regulation 18 has effect as if the references to “the revenue collection counterparty” in that regulation were to “a revenue collection counterparty”.

18.  Regulation 19 has effect as if—

(a) in paragraph (2)—

(i) the reference to “the revenue collection counterparty” were to “each revenue collection counterparty”; and

(ii) the words “in relation to that revenue collection counterparty” appeared after the words “for that day”;

(b) in paragraph (3), the words “in relation to a revenue collection counterparty” appeared before the words “is determined by”;

(c) in paragraph (4), the words “determined by that revenue collection counterparty” appeared after the words “interim levy rate”;

(d) in paragraph (6)—

(i) the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and every other such reference were to “that revenue collection counterparty”;

(ii) the words “in relation to a revenue collection counterparty” appeared before the words “where, after”;

(iii) in subparagraphs (a) and (b), the words “in relation to that revenue collection counterparty” appeared after the words “collateral requirement”; and

(e) in paragraph (8), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the subsequent reference were to “that revenue collection counterparty”.

19.  Regulation 20 has effect as if—

(a) in paragraph (1)(b), the words “to which it is to be provided” appeared after the words “the revenue collection counterparty”;

(b) in paragraphs (2), (3), (5), (7) and (8), each reference to “the revenue collection counterparty” were to “a revenue collection counterparty”;

(c) in paragraph (5), the words “which apply to letters of credit which are to be provided to it” appeared after the words “alternative short term debt ratings”; and

(d) in paragraph (8), the requirement to publish a document applies to a revenue collection counterparty who was designated after the first revenue collection contract is entered into as if the reference to “before the first revenue collection contract is entered into” in that paragraph were to “as soon as reasonably practicable after that revenue collection counterparty is designated under section 16 of the Act”.

20.  Regulation 21 has effect as if—

(a) in paragraphs (1), (2), (3), (4) and (5), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and all other references to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(b) the words “to that revenue collection counterparty” appeared—

(i) after the words “relevant payment” in paragraph (2);

(ii) before the words “is the lesser of” in paragraph (3);

(iii) after the words “collateral provided” in paragraph (3)(a); and

(iv) after the words “failed to make” in paragraph (3)(b).

21.  Regulation 22 has effect as if—

(a) the first reference in paragraphs (1) and (2), and the reference in paragraph (3), to “the revenue collection counterparty” were to “a revenue collection counterparty” and every other reference to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(b) the words “in relation to that revenue collection counterparty” appeared after the words “collateral requirement” in each place those words occur.

22.  Regulation 23 has effect as if every reference to “the revenue collection counterparty” were to “the first revenue collection counterparty designated under section 16 of the Act”.

23.  Regulation 24 has effect as if the references in paragraphs (1), (2) and (5), and the first reference in paragraph (3), to “the revenue collection counterparty” were to “the first revenue collection counterparty designated under section 16 of the Act” and every other reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

24.  Regulation 25 has effect as if—

(a) the first reference to “the revenue collection counterparty” in paragraphs (2), (3), (4) and (6) were to “a revenue collection counterparty” and every other reference in that regulation to “the revenue collection counterparty” were to “that revenue collection counterparty; and

(b) the words “to a revenue collection counterparty” appeared after the words “makes a payment” in paragraph (5).

25.  Regulation 26 has effect as if the first reference to “the revenue collection counterparty” in paragraphs (1), (2) and (3)(c), and the reference to it in paragraph (3)(a) and (b), were to “a revenue collection counterparty” and every other reference in that regulation to “the revenue collection counterparty” were to “that revenue collection counterparty”.

26.  Regulation 27 has effect as if—

(a) in paragraphs (5) and (6), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and each subsequent reference were to “that revenue collection counterparty”; and

(b) every other reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

27.  Regulation 28 has effect as if—

(a) every reference in that regulation to “the revenue collection counterparty”, except the second reference in paragraph (7)(b), were a reference to “a revenue collection counterparty”;

(b) the words “to it” appeared—

(i) after the words “paid or provided” in paragraph (1); and

(ii) after the words “their liabilities” in paragraph (4)(a);

(c) in paragraph (4)(b), the words “to that revenue collection counterparty” appeared after the word “liabilities”; and

(d) in paragraph (7)(b), the second reference to “the revenue collection counterparty” were a reference to “a revenue collection counterparty”.

28.  Regulation 29 has effect as if—

(a) the first reference in paragraphs (1) and (6), and the reference in paragraphs (4) and (5), to “the revenue collection counterparty” were to “a revenue collection counterparty”;

(b) in paragraph (3)—

(i) each reference to “the revenue collection counterparty” were to “each revenue collection counterparty”; and

(ii) the words “be contacted” were followed by “and where a revenue collection counterparty was not designated at the time of making that first supply that supplier must provide that email address to that revenue collection counterparty within 2 working days of its designation under section 16 of the Act”;

(c) every other reference to “the revenue collection counterparty” in that regulation were to “that revenue collection counterparty”; and

(d) in paragraph (5), the words “by that revenue collection counterparty” appeared after the words “notice issued”.

29.  Regulation 30 has effect as if—

(a) the first reference in that regulation to “the revenue collection counterparty” were to “a revenue collection counterparty” and every other reference to “the revenue collection counterparty” in that regulation were to “that revenue collection counterparty”; and

(b) in paragraph (1)(b), the words “to that revenue collection counterparty” appeared after the words “liable to pay”.

30.  Regulation 31 has effect as if—

(a) in paragraph (1), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the second reference were to “that revenue collection counterparty”; and

(b) in paragraphs (2)(a), (3)(b) and (4)(a), each reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

31.  Regulation 32 has effect as if—

(a) the reference in paragraph (1), and the first reference in paragraph (5), to “the revenue collection counterparty” were to “a revenue collection counterparty” and every other reference to “the revenue collection counterparty” in that regulation were to “that revenue collection counterparty”; and

(b) in paragraph (2), the words “owed to that revenue collection counterparty” appeared after each reference to “supplier”.

32.  Regulation 33 has effect as if—

(a) in paragraph (1), the first reference to “the revenue collection counterparty” were to “the first revenue collection counterparty designated under section 16 of the Act”;

(b) in paragraph (2), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty”;

(c) in paragraph (3), the first reference to “the revenue collection counterparty” were to “the first revenue collection counterparty designated under section 16 of the Act”; and

(d) every other reference to “the revenue collection counterparty” were to “that revenue collection counterparty”.

33.  Regulation 34 has effect as if—

(a) the first reference in paragraphs (1), (2) and (4), to “the revenue collection counterparty” were to “a revenue collection counterparty” and every other reference in paragraphs (2) and (4) to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(b) in paragraph (3), the words “by a revenue collection counterparty that is unable fully to meet its liabilities under, or pursuant to, a revenue collection contract” appeared after the words “which may be used”.

34.  Regulation 39 has effect as if—

(a) in paragraph (2)(c), the reference to “the revenue collection counterparty” were to “the revenue collection counterparty to which the direction relates”; and

(b) in paragraphs (3) and (4), each reference to “the revenue collection counterparty” were to “the revenue collection counterparty to which the revocation notice relates”.

35.  Regulation 40 has effect as if the reference to “the revenue collection counterparty” in paragraph (1) were to “the revenue collection counterparty that made the offer”.

36.  Regulation 42 has effect as if—

(a) in paragraphs (1), (2) and (5)—

(i) the first reference in each paragraph to “the revenue collection counterparty” were to “a revenue collection counterparty”;

(ii) the second reference in each paragraph to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(iii) each reference to “the revenue collection counterparty’s” were to “that revenue collection counterparty’s”; and

(b) in paragraphs (3) and (4), each reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

37.  Regulation 43 has effect as if—

(a) in paragraphs (2) and (3)—

(i) the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the other reference were to “that revenue collection counterparty”; and

(ii) the reference to “the revenue collection counterparty’s” were to “that revenue collection counterparty’s”; and

(b) in paragraph (4)(a) the reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

38.  Regulations 44, 46 and 47 have effect as if each reference to “the revenue collection counterparty” were to “a revenue collection counterparty”.

39.  Regulation 45(2)(e) has effect as if—

(a) the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and the other reference were to “that revenue collection counterparty”; and

(b) the reference to “the revenue collection counterparty’s” were to “that revenue collection counterparty’s”.