Case study: Meeting payment deadlines for cleared funds

We’ve published a case study on participants’ obligations to meet payment deadlines with the reconciliation manager and keep the participant register up to date.

Case study: Meeting payment deadlines for cleared funds

The case study looks at the circumstances of a participant’s late payment to the clearing manager and subsequent failed attempts to contact them that constituted a breach of clause 14.34 of the Electricity Industry Participation Code 2010 and Section 29 (2) of the Electricity Industry Act 2010.

It is vital that participants remain on top of their obligations, have a strong compliance framework in place with well-established processes and controls and allocated roles and responsibilities.

The case is a reminder for all participants to keep their contact details up to date in the Participant register so that the Authority can communicate with organisation's most current contacts.