FAQs on transaction reporting – Question II.3.1.3

We plan to report our Forward Contracts for Grid losses in Austria. These contracts are not trades at an OMP, but have the structure of a typical Forward (e.g. Yearly Base Forward 10MW 30€ for grid losses) with an outright volume and price.

In my understanding we should use the REMIT-Table 1 Scheme (Page 18 TRUM) because this is a non-standard product with an outright volume and price.

Can you confirm this? Is it necessary in this case that both counterparts report to ACER?


Answer:

As written in the Transaction Reporting User Manual (TRUM), non-standard contracts specifying at least an outright volume and price shall be reported using Table 1. As for any bilateral trade, both counterparties need to report to ACER with separate reports.

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FAQs on transaction reporting – Question II.3.3.4

How should bilaterally traded contracts (with a floating price) and an option to fix the price be reported, once the fixing has been executed by the buyer?

Should the price fixing event be reported as lifecycle event update to the existing contract, or instead reporting the fixing as a separate ‘new’ contract?

Company X sells 20MW/h +/-10% Q116 gas to counterparty ‘XYZ’ @ TTF + 2 and counterparty ‘XYZ’ decides to fix 10MW/h Q116 at 24.  We then invoice each month 10MW/h at 24 and leftover consumed gas at arithmetic average of daily TTF quotations +2.


Answer:

Please see Annex II to the TRUM. In Section 2 of the annex there are several examples on how to report bilaterally traded contracts (with a floating price) and an option to fix the price that is being reported, once the fixing has been executed by the buyer.

For any of above types of optionality, such as the daily flexibility, there is no expectations of reporting on a daily or individual basis, but on an aggregated basis according to the guidance provided in Annex II to The TRUM.

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