Electricity Act 2001 · 2020 Revised Edition · Part 6 · Wholesale Electricity Market
49. Market rules have force of contract
Feedback & supportThe market rules have the effect of a contract between each market participant and the Market Company.
Each market participant and the Market Company are deemed to have entered into a contract with one another under which each market participant and the Market Company severally agree to perform and observe the market rules as far as they are applicable to each market participant and the Market Company as provided for in the market rules.
market participant
“market participant” means a person —(a)authorised by an electricity licence; and(b)registered in accordance with the market rules,to trade in any wholesale electricity market and includes a transmission licensee and any department of the Government which generates electricity before 1 April 2001;