Amendments to the Energy Exchange Regulation, the Conditions of Trade in Biomass Products and the Typical Conditions of Supply of Biomass take effect on 1 September 2020. A summary of what each participant of the exchange must know is provided below.
I. Commencement of trade in MWh.
1. The following multiples and minimum quantities of an indivisible order shall apply:
|Purchased quantity of woodchips per week
|Indivisible quantity per woodchips order
|Minimum quantity per woodchips contract
|<700 MWh per week
|Quantity indicated in the relevant order|
|≥700 MWh per week
|350, 1,050 or 2,100 MWh
(100, 300 or 600 MWh)
2. Rounding of the amount of delivered biomass to the precision of three decimal points (accounting will be more accurate compared to calculations in TOE).
3. Placing of orders to the precision of EUR 0.1 per MWh.
II. Simplification and speeding up of participants’ registration procedure.
III. Reduction of the amounts of collaterals and penalties.
1. With the exclusion of the current week delivery period, participants of categories B, C and D when placing orders will only have to provide 5% collateral in advance.
2. Reduction of the amount of collaterals for half-year contracts from 10% to 5%.
3. In the cases provided for in the Regulation and the Conditions of Supply (non-delivered biomass, refusal to accept biomass, etc.): reduction of the penalties payable by participants from 30% to 20%.
IV. Relating of payment of invoices to the end of a delivery week (30 calendar days) rather than to approval of the quality report.
V. Simplification of the procedure of application to use collaterals and stipulation that unused collaterals shall be allocated proportionally to all contracts that must be performed.
VI. Amendments to the Conditions of Supply.
1. Provision of an opportunity to take several reserve samples, with some of the reserve samples to be kept by the seller and some of them kept by the buyer in order to ensure that several quality tests can be performed.
2. A seller may, at its own expense, request hiring of a certified specialised company for taking samples.
3. The fact of sampling may be documented using electronic means (e.g. by making a video recording, by e-mail, identification integration into the systems used or system automation).
4. The seal number must be specified in the acceptance documents signed by representatives of a buyer and a seller.
5. A seller may request provision of a reserve sample immediately even in case a dispute arises, but, when a request to provide a reserve sample is presented, the seller still has the duty to deliver the sample to a certified laboratory within 24 hours.
6. According to the amended provisions of LST EN ISO 18125, the maximum allowable difference of the results of the lower heating value of dry matter between the tests performed by a buyer and seller is increased to 0.4 MJ/kg.
7. Radiology tests for biomass imported from third countries must be performed for a vehicle or a combination of vehicles (a railroad car or a set of railroad cars) rather than for a whole unspecified biomass warehouse.
From 2020-10-01 Trading Fees change:
Standard Exchange trading fee is equal to 0,5% of the contract value. For contracts under which biomass is delivered within the borders of Lithuania – trading fee 0,04127 Eur/MWh, VAT not included.
There are no annual fees paid to BALTPOOL.