SI explanatory text
These Regulations impose a number of obligations on persons who supply electricity in Great Britain pursuant to an electricity supply licence (granted by the Gas and Electricity Markets Authority under section 6 of the Electricity Act 1989). Those obligations principally consist of requirements to make payments to the revenue collection counterparty, a person who is designated as such under section 15 of the Nuclear Energy (Financing) Act 2022 (“the 2022 Act”). The payments are made to enable the revenue collection counterparty to meet its costs, which include the costs it incurs in meeting obligations it has under revenue collection contracts. The counterparty is also, in some circumstances, required to make payments to electricity suppliers.