Electricity Act 2001 · 2020 Revised Edition · Part 6 · Wholesale Electricity Market
42. Interpretation of this Part
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“constituent documents” means the memorandum and articles of association of the Market Company;
“Market Company” means the company which holds an electricity licence authorising it to operate any wholesale electricity market.
electricity licence
“electricity licence” means a licence granted or extended by the Authority under section 9;
In the event of any inconsistency —
between the constituent documents and this Act or the market rules, this Act or the market rules (as the case may be) prevail to the extent of the inconsistency; or
between the market rules and this Act, this Act prevails to the extent of the inconsistency.
Nothing in this Part is to be construed as conferring on the Market Company the exclusive right or privilege to operate any wholesale electricity market.
wholesale electricity market
“wholesale electricity market” means an electricity market established by the market rules for the trading of electricity, ancillary services or any other electricity-related product or service.