Page:Electricity Act 2001.pdf/23

24 (6) An electricity licence may include any restriction or condition (whether or not relating to the activities authorised by the electricity licence) which appears to the Authority to be requisite or expedient having regard to the functions and duties of the Authority under section 3.

(7) Without prejudice to the generality of subsections (1) and (6), an electricity licence may include any condition—
 * (a) requiring the electricity licensee—
 * (i) to pay to the Authority a fee on the grant of the electricity licence or to pay to it periodic fees during the currency of the licence or both, of such amount as may be determined by or under the licence;
 * (ii) to enter into any agreement or arrangement on specified terms or on terms of a specified type relating to its trading or operation or for the connection to or use of any electric line or plant owned or operated by the electricity licensee or the other party to the agreement or arrangement;
 * (iii) to observe, with such modification or exemption as may be approved by the Authority, specified codes of practice and the market rules;
 * (iv) to maintain specified financial accounting records and prepare financial accounts according to specified principles;
 * (v) to appoint, at such intervals and on such terms as the Authority may direct, an independent technical auditor for the purposes specified in the condition;
 * (vi) to prepare for approval by the Authority guidelines regarding the procedures the licensee must follow in the event of any public emergency; and
 * (vii) to do or not to do such things as are specified in the electricity licence or are of a description so specified;
 * (b) controlling or fixing prices to be charged for the services provided by a transmission licensee, market support services licensee or an electricity licensee authorised to operate any wholesale electricity market including—
 * (i) the fixing of prices or the rate of increase or decrease in prices;