RIIO-T1 and GD1: Draft licence conditions – First informal ... - Ofgem
RIIO-T1 and GD1: Draft licence conditions – First informal ... - Ofgem
RIIO-T1 and GD1: Draft licence conditions – First informal ... - Ofgem
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<strong>RIIO</strong>-<strong>T1</strong> <strong>and</strong> <strong>GD1</strong>: <strong>Draft</strong> <strong>licence</strong> <strong>conditions</strong> <strong>–</strong> <strong>First</strong> <strong>informal</strong> <strong>licence</strong> drafting<br />
consultation<br />
� delete references to the earlier Companies Act 1985<br />
� incorporate references to the Companies Act 2006<br />
� introduce segmental reporting 13 , <strong>and</strong><br />
� make any necessary incidental or consequential changes to the condition.<br />
2.8. The reason why we propose to make these changes is to introduce the<br />
requirements of the Companies Act 2006 which superseded the Companies Act 1985.<br />
2.9. The effect of the proposed changes is to introduce segmental reporting,<br />
incorporate the reporting <strong>and</strong> record keeping requirements of the Companies Act<br />
2006 <strong>and</strong> that the Licensee is to produce its regulatory accounts as if it is a quoted<br />
company whether or not it is such a company.<br />
B4: Provision of information to the Authority [ETC 75]<br />
<strong>Draft</strong>ing status: Current working draft provided in Supporting Document 1.<br />
2.10. This SLC places an obligation on transmission Licensees to provide such<br />
information <strong>and</strong> procure <strong>and</strong> provide such reports 14 that the Authority may<br />
reasonably require in order to perform its functions.<br />
2.11. The intention of the proposed change to paragraph 1 of the current condition<br />
is for the revised condition to include all current relevant statutes <strong>and</strong> enactments<br />
<strong>and</strong> allow for any future statutes to be included.<br />
B13: BETTA implementation [ETC 93]<br />
<strong>Draft</strong>ing status: To be removed by substituting the title <strong>and</strong> entire current text with<br />
the words “Not Used”.<br />
2.12. This SLC places an obligation on transmission Licensees to take certain steps<br />
<strong>and</strong> do certain things within its power which are necessary to or expedient for the<br />
purposes of implementing BETTA, on <strong>and</strong> from the BETTA go-live date.<br />
2.13. The BETTA go live date was 1 April 2005. Paragraph 7 of this SLC provides<br />
that this condition will cease to have effect on 1 April 2006 or such earlier date as<br />
the Authority may specify.<br />
2.14. The SLC is now time expired <strong>and</strong> has no operational effect in the transmission<br />
<strong>licence</strong> <strong>and</strong> we therefore propose that it can be removed from the <strong>licence</strong>.<br />
13<br />
A type of financial reporting in which the company discloses information by identifiable industry<br />
segments.<br />
14<br />
In such manner <strong>and</strong> at such times as the Authority may reasonably require.
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