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TRUM – Section 5.2

Data fields related to contract details

This section includes the following fields:

1. Contract  ID
2. Contract date
3. Contract type
4. Energy commodity
5. Price or price formula
6. Estimated notional amount
7. Notional currency
8. Total notional contract quantity
9. Volume optionality capacity
10. Notional quantity unit
11. Volume optionality
12. Volume optionality frequency
13. Volume optionality intervals

 

Data Field No (11) Contract ID

No. Field Identifier Description
11 Contract ID Unique identifier for the contract as assigned by the two market participants.

 

Description of Accepted Values Type Length Examples
Up to 100 alphanumerical digits. Alphanumerical 100 AGHDN15832839

 

This field identifies the unique contract ID as assigned by the two market participants.  For a detailed explanation of how to report the Contract ID market participants should refer to ANNEX IV which explains how to generate a unique transaction ID. This can also be used to generate a Contract ID. The Agency recommends that market participants use the ACER algorithm available in ANNEX IV of this manual, unless markets participants agree on their own method of generating a Contract ID.

 

Data Field No (12) Contract date

No. Field Identifier Description
12 Contract date The date the contract was agreed or its modification, cancellation or termination.

 

Description of Accepted Values Type Length Examples
ISO 8601 date format Date n/a 2014-01-30

 

This field identifies the contract date on which the contract was agreed. This field must reflect the actual date as a string representation of the ISO 8601 date format.

 

Data Field No (13) Contract type

No. Field Identifier Description
13 Contract type The type of contract.

 

Description of Accepted Values Type Length Examples
SO=Spot
FW=Forward style contract
FU=Future style contract
OP=Option style contract
OP_FW=Option on a forward
OP_FU=Option on a future
OP_SW=Option on a swap
SP=Spread
SW=Swap
OT=Other
Text 2 FW

 

This field identifies the type of contract that is reported.

For bilateral contracts forward style contract refers to the forward style which also includes spot transactions. Market participants should not understand forward style as a sort of derivative contract but as the style of the contract itself i.e. for physical delivery at a later date.

 

Data Field No (14) Energy commodity

No. Field Identifier Description
14 Energy commodity The classification of the energy commodity for the agreed contract.

 

Description of Accepted Values Type Length Examples
NG=Gas
EL=Electricity
Text 2 NG

 

This field identifies the energy commodity of the product delivered: either natural gas or electricity. Other commodities such as emissions rights, coal, oil, etc. are out of scope of REMIT.

Spreads are not commodities. Clean and Dirty Spark Spreads, for trades that involve both electricity and gas have to be reported separately unless the contract itself includes both commodities in which case both, gas and electricity, should be reported in this field.

Clean and Dirty Dark Spreads, for a trade that involves electricity, coal and emissions should be reported as an electricity contract. Coal and emissions have not to be reported.

 

Data Field No (15) Price or price formula

No. Field Identifier Description
15 Price or price formula Fixed price or price formula used in the contract.

 

Description of Accepted Values Type Length Examples
For Price
Up to 20 numerical digits in the format xxxxx.yyyyy with a maximum of 5 decimals.

For Formula

Up to 1000 alphanumerical digits.
Number
Alphanumeric
20
1000
35.00
HGSG/HBS*+578HSH

 

This field identifies the agreed price per unit of energy as expressed in field 20. In case of options, this field represents the premium. If the contract includes a price formula this shall be reported in this field.

The Agency understands that a price formula may be very complex and may not be represented in the same way in the systems of the two counterparties to the contract. When the price formula is very complex, market participants should report a simplified version of the formula.

 

Data Field No (16) Estimated notional amount

No. Field Identifier Description
16 Estimated notional amount Estimated notional amount of the contract (if applicable).

 

Description of Accepted Values Type Length Examples
Up to 20 numerical digits in the format xxxx.yyyyy with a maximum of 5 decimals. Number 20 53450.00

 

This field identifies the estimated notional amount of the contract. The notional amount should be calculated using the following formula:

Notional Amount = Price x Total notional contract quantity where:

 

  • Price is defined as the price of the volume as per field 15
  • Total notional contract quantity is the quantity of energy as per field 18

 

For example, a contract traded for a price of €50/MWh for a volume of 100MW delivered for 8 hours has the following notional amount:

€50 x 100(MW) x 8(h) = €40,000
or for a monthly contract:
€50 x 100(MW) x 8(h/day) x 30(days) = €1,200,000

This field should be left blank for contracts that do not have a known price at the time of the trade. The same applies to any contracts which have a floating leg, e.g. gas/electricity financial swaps not reported under EMIR but reportable under REMIT. For example: in April, market participant (A) enters into an electricity financial swap contract for the month of July. Market participant (A) is the seller of the swap. Market participant (A) sells the forward fixed leg today and it buys the spot price (based on a reference price) in July. For the fixed leg, the forward price is known today but the spot price is not known until the end of July. In this case, this field should be left blank.

For the calculation of the notional amount for options, the option strike price should be used, and not the option premium.

The Agency understands that without a defined price and quantity, market participants will only be able to provide an estimated notional amount that may differ between the two counterparties.

 

Data Field No (17) Notional currency

No. Field Identifier Description
17 Notional currency The currency of the estimated notional amount.

 

Description of Accepted Values Type Length Examples
ISO 4217 Currency Code, 3 text digits:

BGN=Bulgarian lev
CHF=Swiss franc
CZK=Czech koruna
DKK=Danish krone
EUR=Euro
EUX=Euro cent
GBX=Penny sterling
GBP=Pound sterling
HRK=Croatian kuna
HUF=Hungarian forintI
ISK=Icelandic króna
NOK=Norwegian krone
PCT=Percentage
PLN=Polish złoty
RON=Romanian new leu
SEK=Swedish krona/kronor
USD=U.S. dollar
OTH=Other

Text 3 EUR

 

This field identifies the currency for the value indicated in field 15 (price) and/or 16 (estimated notional amount). The notional currency shall be provided in the major unit, e.g. EURO rather than EURO cent and GBP rather than GB pence.

The reason for reporting the major unit is, for example, that the price for NBP is quoted in pence per therm, but the notional value of the contract may be much bigger e.g. a gas year forward is 365 days and it may be more appropriate to have GBP 1,000,000 rather than GBp. 100,000,000.

If field 15 (price) and 16 (estimated notional amount) is blank, this field should be left blank.

 

Data Field No (18) Total notional contract quantity

No. Field Identifier Description
18 Total notional contract quantity The estimated total number of units of the wholesale energy product. This is a calculated figure.

 

Description of Accepted Values Type Length Examples
Up to 20 numerical digits in the format xxxx.yyyyy with a maximum of 5 decimals. Number 20 1000

 

This field identifies the total quantity or energy volume of the transaction (total notional contract quantity). The total notional contract quantity is the overall quantity/volume of energy included in the contract. The notional contract quantity should be calculated using the following formula:

Total notional contract quantity = Volume x number of periods, where:

  • Volume is the quantity of energy as per field (19) volume optionality capacity (if available)
  • Number of periods is the number of times that quantity is delivered / received

For example, a contract traded for a volume of 100 MW delivered for 8 hours would have the following total notional contract quantity:

100 MW x 8h = 800 MWh
or for a monthly contract:
100 MW x 8h x 30days = 240,000 MWh

The Agency understands that without a defined quantity market participants will be only able to provide an estimated notional contract quantity that may differ from between the market participants.

Where the total notional contract quantity is not known this field shall be left blank.

 

Data Field No (19) Volume optionality capacity

No. Field Identifier Description
19 Volume optionality capacity The number of units included in the contract, per delivery time interval if available.

 

Description of Accepted Values Type Length Examples
Up to 20 alphanumerical digits. Alphanumeric 20 100/200

 

This field identifies the number of units included in the contract per delivery time interval if available.

For example, if the non-standard contract has optionality identifying the capacity per time interval, this should be reported in this field. Please see examples available in Annex II.

 

Data Field No (20) Notional quantity unit

No. Field Identifier Description
20 Notional quantity unit The unit of measurement used in fields 18 and 19.

 

Description of Accepted Values Type Length Examples

For field 18:

KWh
MWh
GWh
Therm
Ktherm
MTherm
cm
mcm
Btu
MMBtu
MJ
MMJ
100MJ
GJ

For field 19:

KW
KWh/h
KWh/d
MW
MWh/h
MWh/d
GW
GWh/h
GWh/d
Therm/d
KTherm/d
MTherm/d
cm/d
mcm/d
Btu/d
MMBtu/d
MJ/d
100MJ/d
MMJ/d
GJ/d

Text 2 to 8 MWh

 

This field must identify the unit used for the reported quantity in field 18 (total notional contract quantity) and field 19 (volume optionality capacity). Where the units for field 18 and field 19 differ, the two different quantity units should be provided.

 

Data Field No (21) Volume optionality

No. Field Identifier Description
21 Volume optionality The volume classification.

 

Description of Accepted Values Type Length Examples
V=Variable
F=Fix
M=Min/Max
C=Complex
O=Other
Text 1 F

 

This field identifies the type of volume classification of the capacity indicated in field 19. This is a representation of the flexibility of the contract capacity.

For example, it refers to the volume classification such as variable “V” (e.g. unbound variable capacity), fix “F” (e.g. 100), min/max “M” (e.g. 100 to 200), complex “C” (e.g. 0 [zero] or 100 to 200) or other “O”. Please see the examples in Annex II.

 

Data Field No (22) Volume optionality frequency

No. Field Identifier Description
22 Volume optionality frequency The frequency of the volume optionality: e.g. daily, weekly, monthly, seasonal, annual or other, if available.

 

Description of Accepted Values Type Length Examples
X=Half hourly
H=Hourly
D=Daily
W=Weekly
M=Monthly
Q=Quarterly
S=Season
A=Annual
O=Other
Text 1 Q

 

This field identifies the frequency of the volume optionality as indicated in field 19. This is a representation of how frequently the capacity of the non-standard contract can be “flexed”.

For example, it refers to the hourly, daily, weekly, monthly, seasonal, annual or other volume optionality frequency as specified in the table above. It does not specify the exact dates and times when the contract capacity can be changed, but only the frequency that the capacity can be adjusted.

 

Data Field No (23) Volume optionality intervals

No. Field Identifier Description
23 Volume optionality intervals Time interval for each volume optionality if available.

 

Description of Accepted Values Type Length Examples
ISO 8601 date format Date n/a 2014-01-01 / 2014-03-31

 

This field identifies the time interval for each volume optionality, as indicated in field 19, that the market participant of the non-standard contract can adjust the volume capacity.

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