Reminder of the adopted Amendments to the Conditions of Trade in Biomass Products and the Typical Conditions of Supply, which entered into force on 2023-10-02
The main change:
Splitting auctions by country of buyers
To ensure the efficiency of auctions held in different countries, trading sessions are to be organised separately in each country as from 02-10-2023, i.e., if sellers reduce the price of their orders placed from the sites registered in the country concerned, the auction phase would be extended only in that country. For example, if a seller lowers the price to sell biomass in the Vilnius region, this will not extend the auctions for the purchase and sale of fuel in the Riga or Tallinn regions.
Please also note that this change affects the execution of sales offers (bids). Only offers for sale-purchase within the same Country are executed together. For example, if a seller wants to sell biomass in Latvia, he has to set up a trading platform in Latvia.
Possibility to reduce the volume of a transaction with the non-standard clause “Contract termination in case of losing a heat auction” in accordance with the dispatchable heat production control schedule
It is stipulated that the volume of a transaction with a non-standard clause “Contract termination in case of losing a heat auction” will be able to be reduced not only according to the results of the heat auction, but also according to the dispatching schedule of the control of heat production.
In the event of equipment failure, buyers will be obliged to provide a Significant Information Notification and of the rectification of the failure
In the event of a plant failure, the buyer will be required to provide two messages of significant information to stop the supply of biomass:
- In the event of a failure (as before);
- When the failure is rectified. This Significant Information Notice will need to include, amongst other things, the date on which the circumstance ceased to exist and the amount of biomass that has been reduced by the total amount of biomass consumed during the period that the circumstance has existed.
Clarification of the provisions on cases, when buyers fail to submit quality reports on time
- It is stipulated that if a buyer is late to submit the report within 7 working days after the end of the delivery week, such buyer will not be able to apply discounts in case the quality indicators of the biomass are not in line with the product specifications
International Biomass Exchange
2023 10 23Amendments to the Conditions of Trade in Biomass Products are adopted
2023 10 03Reminder of the adopted Amendments to the Conditions of Trade in Biomass Products and the Typical Conditions of Supply, which entered into force on 2023-10-02
2023 08 14Information about 2023-08-15 auction date change