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FAQs on transaction reporting – Question II.2.1.36

Data Field (48)

Reference to documents: Annex Table 1 (details of reportable contracts) of Regulation (EU) No 1348/2014

Please be advised of the following data issue which has been identified by our company (OMP)

For pure financial products which never result in physical delivery, what should be filled in for field 48 (delivery point or zone).

Two examples

  1. Spread Dutch TT / Italian PSV
  2. German Power Financial

Please note that there is no consistency between the OMPs. For example for German Power. There are 4 different EIC codes used, but also not applicable and blank.

See https://www.acer-remit.eu/portal/standardised-contract

Because there is no physical delivery, the most logical approach is to make this field not applicable. To avoid misunderstanding (parties forgot to add a EIC code where applicable), it is advisable to use a fictive EIC code, for example 99X-NOT-APPLIC–


Answer:

It is our understanding that every contract related to the supply of electricity or gas, irrespective of if the contract is a spot, a physical forward, a future or an option contract has a reference to a delivery period and a delivery point. Also financial products that are settled in cash and never result in physical delivery have a reference price or other attributes which relate to the commodity. In this case, reporting parties should refer to the reference price or other attributes which relate to the electricity or gas and report its delivery point.

For contracts that involve more than one delivery point, all of them should be reported.

Last update: 26/04/2017   RSS_Icon Subscribe to this Page’s RSS