CMP351: Financial Securities – Timescales for Provision of Cash Deposit into Escrow'

The purpose of this Modification is to change the timescales by which Cash Deposits need to be provided to National Grid ESO through the bi-annual financial securities process.

Modification status: Concluded

Last updated: 22 December 2021

Code Administrator Contact: [email protected]

Governance Route: Standard Governance

Impacts: 

Low - The proposal will have little or no impact of National Grid ESO fulfilling its obligation to ensure Developers are providing the correct level of security against commitments under Construction Agreements.

High - The proposal will have a positive impact for those Parties with a Construction Agreement providing financial securities under the bi-annual securities process by means of a cash deposit into a National Grid ESO managed Escrow Account.

Implemented: 11 February 2021

Documents

Proposal Documents

Workgroup Meetings and Summary papers

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Workgroup Consultation

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Workgroup Report

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Code Administrator Consultation