FAQs on transaction reporting – Question II.3.1.5

I’m writing on behalf of our company. Will you be so kind and clarify to us next two questions:

1. If a given trade has no fixed price, but the price is set with the Price Index (which is known after the beginning of the delivery period), how it should be reported? Is there any example of that kind of trade?

2. If a given trade for example, for the year 2016, is decided to be changed in the middle of the year – either the price or the quantity of trade to be increased or decreased, then shell we just send the correction for the period in which the change is going to be or to generate again a new report for the hole period?

In other words: we have a trade for power block which is EU peak for a whole year of 2016. We’ve already sent a remit report for that trade on the day D+1 from the trade date. Then, in a few months, during the delivery period, we decide to buy more energy just for one week for example in august. Shall we generate a new report in which we’ll have a separate display for every week in the year or shall we create a new report just for that specific week for which we made changes?


Answer:

With regard to the first question, in Annex II of the Transaction Reporting User Manual (TRUM) available on the REMIT portal there are examples of Index trade reports. Also, examples of standard contracts and non-standard contracts index trades are described in the said annex.

In the Agency’s view, when an original trade for a given period of time has already been reported, and a new agreement/modification occurs during the delivery period, the Agency would expect a separate new trade to be reported.

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FAQs on transaction reporting – Question II.3.1.6

How should we report non-standard contracts and executions under the framework of non-standard contracts with two delivery zones?


Answer:

A non-standard contract that includes more than one delivery zone is reported with Table 2 by repeating the corresponding Field (48) delivery point or zone as many times as the delivery zones included in the contract identifying each EIC Y code.

When executions under the framework of a non-standard contract have a price which is set with different price formula depending on the delivery point of the commodity, then these executions should be reported separately (one report for each delivery point).

When executions under the framework of a non-standard contract have a price which is set with one price formula for all the delivery points of the commodity, and the volume split is known to the market participant, then these executions should be reported separately (one report for each delivery point).

When executions under the framework of a non-standard contract have a price which is set with one price formula for all the delivery points of the commodity, and the volume split is NOT known to the market participant, then these executions can be reported with one report (e.g. one report indicating the total volume and indicating , for example, two delivery points).

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