UK Statutory Instrument SI 2014 United Kingdom

Contracts for Difference (Standard Terms) Regulations 2014

These Regulations are made further to the powers contained in Chapter 2 (contracts for difference) of Part 2 (electricity market reform) of the Energy Act 2013 (c. 32). The Regulations are concerned with the provision to be included in standard terms issued or revised by the Secretary of State; the …

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Enforced by
Ofgem, DESNZ
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person2

Plus 5 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

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Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Introduction

0 of 2 sections shown
2 other sections in this Part — procedural and definitional
s.001 Citation and commencement (opens in a new tab)
s.002 Interpretation (opens in a new tab)
Part 2

Standard terms

2 of 2 sections shown
s.003 Provision to be included in standard terms (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Secretary of State must include specific payment and operational terms in CFDsCrown / Minister / Government department
s.004 Provision and publication of information (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Secretary of State must explain revisions to CFD standard termsCrown / Minister / Government department
Part 3

Modification of standard terms

2 of 4 sections shown
s.006 Modification of the standard terms (opens in a new tab) Regulated
  • CFD counterparty must notify applicants of modification decisionsAny Person
s.007 Minor modification (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • CFD counterparty must determine if contract modifications are major or minorStatutory regulator
2 other sections in this Part — procedural and definitional
s.005 Application to modify the standard terms (opens in a new tab)
s.008 Necessary modification (opens in a new tab)
Part 4

Offer to contract on standard terms

3 of 5 sections shown
s.010 Offer to contract (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Low Carbon Contracts Company must offer a CFD within 10 working daysStatutory regulator
s.011 Failure to accept an offer (opens in a new tab) Regulated
  • Accept a CFD offer within 10 working daysAny Person
s.012 A register of CFDs (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Low Carbon Contracts Company must maintain and publish a CFD registerStatutory regulator
2 other sections in this Part — procedural and definitional
s.009 Preparation of a CFD (opens in a new tab)
s.013 Giving of notices (opens in a new tab)
1 other provision
s.documents Documents

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Contracts for Difference (CfD)

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.