Requirement for billing in wholesale electricity market 28. (1) The Utility shall determine billing and payments arising from any transaction in the wholesale electricity market, in accordance with the provisions of these Regulations and other applicable laws. (2) The Utility shall in determining billing and payments, take into consideration the following:  (a) capacity and energy;  (b) bilateral contracts administered by the Utility;  (c) ancillary services; and  (d) Electricity Market Oversight Panel administrative expenses. (3) The Utility shall in accordance with the metering code determine and issue settlement invoices to each market participant relating to a transaction in the wholesale electricity market. (4) For the purpose of this regulation, "metering code" means the code of practice that sets forth requirements relating to meters and metering in the wholesale electricity market and which is provided as part of the National Electricity Grid Code.