The Contracts for Difference (Counterparty Designation) Order 2014

Made: 1st July 2014

Coming into force: 1st August 2014

The Secretary of State, in exercise of the powers conferred by section 7 of the Energy Act 2013[^f00001], makes the following Order:

Citation and commencement

1

This Order may be cited as the Contracts for Difference (Counterparty Designation) Order 2014 and comes into force on 1st August 2014.

Low Carbon Contracts Company Ltd

2

Low Carbon Contracts Company Ltd, a company registered in England and Wales with company registration number 08818711, being an eligible person[^f00002], is designated with that person’s consent under section 7 of the Energy Act 2013 as a counterparty for contracts for difference.

Signed

Michael Fallon — Minister of State — Department of Energy and Climate Change — 1st July 2014

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

By section 7 of the Energy Act 2013 (c.32), the Secretary of State may designate an eligible person as a counterparty for contracts for difference (a “CFD counterparty”), where that person consents to the designation. This Order designates Low Carbon Contracts Company Ltd (company registration number 08818711) as a CFD counterparty. This is the first designation made under section 7 of the Energy Act 2013.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

Footnotes

[^f00001]: 2013 c. 32.

[^f00002]: An eligible person is defined in section 7(3) of the Energy Act 2013.