OPCOM: Prezentare Termen en
- Trading is done online from the terminals of the market participants, on each business day;
- The trading sessions are organized between 12: 00-14:00;
- The identity of the Participants in the Trading is anonymous throughout the trading session;
- Bids are simple: quantity in GC (integer) - price in Lei/GC (four decimal places);
- The market is open to license holders that are registered as market participants and are complying with the Green Certificates Market Participation Agreement provisions;
- It is mandatory to use the standard contract, according to ANRE Order no. 77/18.08.2017.
- After the trading session ends, the Market Operator publishes the results of the respective auction: the name of the traded standard product, the number of GC traded, the transaction award price, the name of the seller and the buyer.
Offers are standardized in terms of delivery periods - offers for 1 month (example: 01.10 - 31.10.2017), 1 quarter (example: 01.01 - 31.03.2018), 1 year (01.01 - 31.12.2031).
Throughout the trading session, Participants may enter, modify, suspend / activate and / or cancel their sales / purchase bids for specific instruments.
Succession of activities
- Only E-RES producers can bid for sales;
- Purchase offers can be introduced only by the licensees with the obligation to purchase the GC or the producers who are in the situation of not fulfilling the GC number for which they have a delivery obligation under a bilateral contract already signed;
- In order to obtain the right to enter GC, E-RES producers must notify OPCOM of the objective situation created and the number of GC they cannot fulfill under contractual obligations already assumed;
- Entering bids in the system according to the trading schedule by selecting: the standard instrument defined for the day the trading session takes place; bid type: sale / purchase and filling in GC number; proposed price [Lei / GC];
- The maximum number of GC in an offer is 10,000 GC;
- The GC number in a sale offer cannot exceed the number of GC available from the E-RES producer account;
- Matching is done automatically and continuously between orders existent in the market as long as the trading conditions are fulfilled, i.e. the price of a bid to buy is higher or at least equal to the price of a bid for sale or the price of a bid to be less than or equal to the price of a purchase offer;
- Closing of the matching process when there are no offers that meet the trading condition or expiry of the trading session open for the instrument;
- Publication of the results on OPCOM SA after the trading session;
- Transmitting Transaction Confirmations after the trading session closing;
- Singing of the standard contract approved by ANRE for the sale and purchase of the GC in accordance with the results of the transactions and sending to OPCOM in 3 business days, excluding the auction day;
- Checking by the Market Operator of the compliance of the contract signed between notified parties with the provisions of the applicable standard contract approved by ANRE. In case of non-compliance, Market Operator will suspend from trading the involved market participants and publish their identity as well as the reason of suspension from trading, on OPCOM web-site;
- Invoicing by Sellers and payment by Buyers of the traded GC value;
- Transmission by Seller of self-signed confirmations for the transfer of GC traded from Seller to Buyer's account;
- Suspension and penalization of participants who do not concluded the transactions and the publication of the suspended participants on the website and the reason for the suspension;
- Transmission of the invoice for the trading fee applied by OPCOM: in the first 3 business days of the month following the month in which the transaction was made;
- Payment of the invoice for the trading fee: According to the Procedure regarding the payment terms of the regulated tariff applied by the electricity market operator.