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FAQs on transaction reporting – Question II.3.1.1

a) If invoice data are required for phase 2 what invoice details will be used for reporting on non-standard contracts? Will the market participant have to use the preliminary invoice (before agreement and payment) or will he need to be reported based upon the final invoice details (agreed and paid by the counterparty)?

b) What price information is required in Table 1 data field 35 and Table 2 data field 15? Does the price need to include all components (basic price (Grundpreis/Leistungspreis), energy price (Arbeitspreis) including grid charge (Netznutzung), green tax (Ökosteuer), VAT (Mehrwertsteuer), concession fee (Konzessionsabgabe), renewable fee (KWK- und EEG-Umlage), surcharge for structuring) or just a specific part?


Answer:

On page 20 of the TRUM, under the Clarification of outright volume and price and reporting frequency for transactions executed within the framework of non-standard contracts“  the Agency clarifies that transactions executed under the framework of a non-standard contract have to be reported once the delivered quantity and the price are known, but still using Table 1 of the Annex to the Implementing Acts.

Still, the TRUM clarifies that ”As far the Agency is aware, details of transactions executed within the framework of non-standard contracts specifying at least an outright volume and price are available to both parties to the contract by the invoicing date at the latest.”

In Annex II to the TRUM, the Agency used the term “billing cycle” and “invoicing date” to indicate that this is the last point in time that price and quantity can be discovered. In addition, Annex II to the TRUM indicates that transactions executed within the framework of non-standard contracts can be reported on a monthly basis:

“The Agency understands that the billing cycle industry standards refer to calendar months and therefore twelve transactions per year (if the executions take place every month of the year) are expected to be reported no later than 30 days after the discovery of price and quantity. However, nothing prevents market participant from reporting the details of transactions executed within the framework of non-standard contracts on a more frequent basis even if the Agency would not expect it.”

Market participants should not understand the terms “billing cycle” and “invoicing date” as an indication that under REMIT they have to report the components of their invoices which include taxes, costs and adjustments not in the scope of REMIT.

Market participants should report the energy price for the energy delivered in the period of time the reported execution/contract refers to.

With regard to the energy price, market participants reporting transactions executed within the framework of non-standard contracts on a monthly basis should report the energy price as considered in contract.

If the price is fix, that price will be reported. If the price is fixed by a fixing index, a price formula, a strike price or anything else as defined in the contract, then that energy price has to be reported to the Agency.

With regard to the energy delivered, market participants should report the energy delivered as indicated in the execution report.

The Agency understands that invoices may cover several months: the current month plus some adjustments from previous months (these can sometimes go back up to 18 months in the past). Market participants have to report only the energy delivered in the period of time the execution report refers to without any adjustments from the past.

The Agency understands that the reporting of the energy delivered in the previous month may be over/under estimated and it recommends market participants to consider an amendment to the execution reports already reported in order to avoid that the discrepancy between the reported volume (or price) and the new information acquired may cause false positive signals to the market monitoring activity of the Agency and/or the National Regulatory Authorities.

Last update: 16/02/2016   RSS_Icon Subscribe to this Page’s RSS