Question 1.1.14

In what format and timeframe should bilaterally traded profiled gas contracts be reported?

The Profiled gas contract is the same gas consumption every hour of the day within one month, however, months can differ.  Example: Company X sells 47,251 MWh GLP H @ €24.03 to counterparty 'XYZ'. The gas consumption profile can be shaped over the year so gas is only delivered on selected months. Invoicing occurs each month after delivery.

Answer

Profiled gas contracts with a defined price and quantity should be reported with Table 1. The reporting timeline depends on where the trade takes place. If the trade is executed through an Organised Market Place (Broker platform/ or Voice brokered), the trade is considered a standard contract and should be reported on a T+1 working day basis.

If the trade is executed bilaterally off-market, then the trade is considered a non-standard contract and should be reported on a T+1 month basis, still with Table 1.

If the gas consumption profile can be shaped over the year so that gas is only delivered on selected months after the conclusion of the contract (there is no defined quantity in the contract but a possible range or optionality), then the contract itself has to be reported with Table 2 on a T+1 month basis and the monthly executions will have to be reported not later than 30 days after the discovery of price and quantity with Table 1. Please see Annex II of the Transaction Reporting User Manual (TRUM) for additional details.