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FAQs on transaction reporting – Question II.3.1.10

Reference to Article 5 (1) of the REMIT Implementing Regulation

If an electricity supply contract (the “Contract”) concluded between a generator and a trader outside of an organized market, with delivery in the European Union, providing the right to the purchaser to waive its right to off-take a pre-defined percentage of the monthly and daily volumes of electricity determined in the Contract, can be reported using Table 2 of the REMIT Implementing Regulation.

In our interpretation, as the volumes of electricity which will actually be delivered under the Contract cannot be determined at the time of the conclusion of the Contract, the Contract may not be considered as a contract specifying an outright volume within the meaning of Article 5 (1) of the Implementing Acts. Therefore, the Contract may be reported using Table 2 of the Implementing Acts.
In our interpretation, the right of the purchaser under the Contract to waive its right to off-take a pre-defined percentage of the monthly and daily volumes of electricity may be reported in Fields No 21 to 23 of Table 2.

In our interpretation, no subsequent reporting would be required to the Agency due to the fact that the volumes supplied under the Contract deviate from the volumes set out in the Contract provided that the volumes of the electricity actually off-taken by the trader fall within the optionality conditions as reported to the Agency following the conclusion of the Contract.


Answer:

The contract shall be reported with table 2. The characteristics of the contract regarding volume optionality have to be reported in the fields 21-23. For more information please see the TRUM as well as Annex II of the TRUM for specific examples.

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