Centralized market with dual continuous negotiation OTC PC will become functional from March 3, 2014, according to an announcement of OPCOM, energy exchange, informs a press release by the Association of Electricity Suppliers in Romania ( AFEER ).
On this market, trading ( buying and selling ) electricity will be based on framework contracts agreed and signed between the participants, following the transaction elements to be determined in real time during each daily trading session.
According AFEER by elements of the transaction means: Delivery profile ( strip naked, top ), the delivery period (1 day, a week, a month, quarter, semester and year) and of course, price. Transactions will be anonymous, not knowing participant counterparty than when completing the transaction. Meanwhile, all the transaction will be known by all other participants thus observing the principles of transparency and non-discrimination.
Such platforms used throughout Europe, facilitates the completion of transactions between eligible participants who have previously agreed contractual terms. Freedom is thus provided by criteria already preagreate participants remaining that at some point they manifest option to buy / sell power profile, the desired period (eg , purchase 5 MW band , 2015 ) and price accepted more states AFEER.
If OTC platform were introduced additional requirements for transparency from European trading environments, such as the minimum number of four partners from eligibility list (which can be an obstacle for new entrants in the market ), and instead several types of standard contracts preagreate, went straight to the final form of contract EFET. Moreover, the transparency requirements imposed by OPCOM check signed contracts, although it is a common practice similar European trading environment.
AFEER argues that within about six months, nine developed market OPCOM will help increase liquidity transactions with long-term standard products. This increase will be visible if viewing is allowed enrolling and not enrolling the criterion excludes contracts and minimum number list eligibility. Thus, most of those enrolled will be in a position to track the market.
At the request of civil society will publish aggregate prices of all transactions in order to ensure full transparency.
Currently, energy can be traded on CMBC ( Central Market of the bilateral contracts ), DAM ( Day Ahead Market ) and PI ( intra-day market ).