In case of a modification of the bidding zone configuration, how such event will affect the data reporting of outstanding contracts (standard and non-standard)?
Answer: In the Agency’s view, the modification/update of the bidding zone configuration (irrespectively of splitting or merging of bidding zones) represents an event independent from the business decisions carried out by individual market participants dealing with their trading activity on wholesale energy markets. Hence, as a general consideration, ACER does not expect to receive the reporting of lifecycle events on outstanding trades and contracts if referred to the modification of Data Field (48) Delivery point or zone in Table 1 or Data Field (41) Delivery point or zone in Table 2 solely.
From the REMIT data reporting point of view, it is expected that:
a) All new REMIT-reportable contracts (including standard and non-standard contracts) concluded on or after the date when the new bidding zone configuration enters into force have to report the delivery point or zone with the EIC of the new bidding zone(s) in Data Field (48) in Table 1 and Data Field (41) in Table 2.
b) The outstanding REMIT-reportable contracts, including executions concluded before the date when the new bidding zone configuration enters into force, do not require the reporting of lifecycle events, such as early termination or modification of the outstanding contracts, as triggered by the introduction of the new EICs.
c) Executions of outstanding Table 2 non-standard contracts with delivery start date on the date when the new bidding zone configuration enters into force and onwards shall populate Data Field (48) Delivery point of zone in Table 1 with the new EICs.
d) For executions of new Table 2 non-standard contracts concluded after the date when the new bidding zone configuration enters into force, the indication provided in paragraph a) applies.