Suggested agreement structure for imbalance settlement agreement. Minnakaisa Ahonen

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1 Suggested agreement structure for imbalance settlement agreement Minnakaisa Ahonen

2 esett TSO BRP agreements Participating as a balance responsible party in the electricity markets that are settled by esett requires a valid: between BRP and the respective TSO and Imbalance Settlement Agreement between BRP and esett Balance management BRP Imbalance Settlement Agreement Imbalance Settlement Invoicing Collaterals TSO esett 2 One-stop-shop for BRPs: esett would collect the signatures of TSOs and handle the signature process for the balance agreements

3 Author Agreement Structure Appendices NBS Handbook Invoicing and Payments Main Agreement Collaterals Fees Requirements for a balance responsible party NO/SE/FI 3

4 Suggested agreement structure (1/3) Contract Contract parties Purpose / contents Imbalance Settlement Agreement 4 Main agreement, references to appendices where details are specified Parties: Definitions: Mainly defined in the Handbook, only key terms explained Background and purpose: imbalance settlement on behalf of TSOs Contract Documents: main agreement and appendices BRP's rights and obligations: list of rights and obligations toward esett esett's rights and obligations: list of rights and obligations toward BRP Fees and Taxes: can be amended with one month notice period and they are defined in separate Appendix Collaterals: Assessment will take place continuously, BRP shall make sure that the Collaterals cover the collateral requirement continuously Liability: the Parties shall be liable to each other for damage caused by negligence or with intent Breach of Agreement: BRP has not necessary funds for settlement Force Majeure: list of force majeure issues Assignment: BRP has no right without the written consent of esett Amendments and additions: in the main agreement in writing and signed by both Parties, esett may adopt amendments in the Appendices, by giving a notice at least one (1) month beforehand Term and Termination: esett has a right to terminate the Agreement in writing with three (3) month s period of notice / BRP with one month's period of notice Governing law: laws of Finland Dispute Resolution: Arbiration in Helsinki, Finlad Signatures:

5 Suggested agreement structure (2/3) Contract Contract parties Purpose / contents Appendix 1: NBS Handbook Handbook will be applied only on those parts that describes the roles and responsibilities of BRP Requirement for reporting information: scope and timelines Imbalance settlement: rules for settlement and calculating the financial settlement Procedures in case of errors in imbalance settlement / corrections Conditions that allow esett to delay settlement Appendix 2: Invoicing and payments Requirement that BRP holds settlement account in designated Settlement Bank and pledges the account to esett Currency model: What is done in which currency, when are amounts converted between currencies and which rates are used for the conversions BRP's choice of currency for invoicing Invoicing schedule (invoice days, due days, value days) Procedures for handling invoicing errors/disputes Direct debiting of BRP's payables to esett Procedures in case of failure to carry out direct debit Force majeure conditions that allow esett to delay outgoing payments Appendix 3: Collaterals 5 Purpose and grounds for collateral demand Calculation and communication of collateral demand Possible forms of collateral (cash and on-demand guarantee) Currency model: What is done in which currency, when are amounts converted between currencies and which rates are used for the conversions Required timelines for meeting collateral demands Procedures in case of failure to meet collateral demands on time

6 Suggested agreement structure (2/3) Contract Contract parties Purpose / contents Appendix 4: Fees Specifies the valid fee levels Appendix 5: Requirements for a balance responsible party Appendix 6a: Finland Appendix 6b: Norway Appendix 6c: Sweden Fingrid and BRP Statnett and BRP SvK and BRP Specifies the requirements that BRP shall fulfill in order to start the operations in market settled by esett. Scope not yet specified (possibly): Specifies the balance management: requirements for production plans, right to use imbalance power, regulating market, transactions during operation hour, procedures in the event of power shortage Scope not yet specified (possibly): Specifies the balance management: requirements for production plans, right to use imbalance power, regulating market, transactions during operation hour, procedures in the event of power shortage Scope not yet specified (possibly): Specifies the balance management: requirements for production plans, right to use imbalance power, regulating market, transactions during operation hour, procedures in the event of power shortage 6

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