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EFET
e
s
s
Future Energy Marketplace:
P
r
o
c
Standards & Platforms
When seeking standard solutions to the
repetitive aspects of wholesale energy
Nom i na t e
transactions, EFET has enjoyed a degree of
C
C le a r
o
s
success in tackling the standardisation of
m
m
o
d
S et t le gas and electricity spot physical contracts.
i
t
y
P o s i t i o n
P
a
r
t
i
c
p
i
a
n
t
More recently, we have looked at
G
C
T
possibilities in IT-based data exchange
C on f ir
M
S
m
O
O
t
h
e
r
s
/
B
N
C
O
²
r
C
between wholesale counterparties and
o
M
G
a
s
e
r T
r
k
a
e related business processes. Current priorities
d
r
P
o
w
e
r
in contract standardisation include:
EF E T n et

Updating the existing standard power
and gas master contracts for OTC
P
h transactions in continental Europe.
O
y
s
p
i
c
F t
a O
T
C
i

Encouraging the uptake of EFET
n
i
o
l
a
g
e
n
n
standards in eastern European markets by
F c
s
u
E FET e C M
t
i
u
a
r
l
s
training market participants and providing
e
EFET e PM
E
x
c
h
a
n
s
t
EFET e SM
T
r
local language translations of the General
a
d
P
r
o
d
u
c
e Agreement and its various appendices.
EFET e KR P

Completing the coverage of legal
ET SO E SS
opinions beyond the 24 jurisdictions
ED I g @s currently included in the legal opinions on
gas, electricity, emissions and credit netting
S
t
a
standard contractual terms.
n
d
a

Developing harmonised appendices to
r
d
the gas master contract for additional
European gas hubs.

Issuing new appendices for transactions
measures, such as creating wholesale price caps or artificially in gas and power transmission capacity rights.
removing the carbon cost from electricity markets, would

Actively advocating the creation of EU-wide netting
interfere with the operation of the wholesale market, diminish legislation in order to improve netting for physically settled
liquidity and ultimately remove the incentive to shut old energy transactions.
plants and invest in appropriate technology.
The successful integration of renewable energy targets into The standardisation of data exchange and processing by
the framework of the internal energy market seems to be electronic means will be one of the main areas of EFET work
much more problematic. The approach set by the Renewable for the future, mostly channelled through EFETnet. A
Energy Sources (RES) Directive allows certificate types and common IT architecture, coupled with standardised data
feed-in-tariffs to vary greatly across formats, codings and automated
countries. This may lead to a surge of
... more attention should be
processing related to lifecycle events of
‘subsidy chasing’ which could distort
competition. In order to achieve optimal
paid to designing market
cleared and OTC transactions will
deliver significant cost savings and
results in pursuing the simultaneous
based mechanisms for
increase the efficiency of traders’ front,
goals of environmental sustainability meeting targets ... middle and back office operations.
and energy market liberalisation, more Unbundling, the internationalisation of
attention should be paid to designing market based the power and gas sectors, shorter reaction times for supply
mechanisms for meeting targets and broadening the spectrum optimisation and a convergence between commodities are
of instruments for emissions and renewable energy trading. bringing about an acute need to exchange data in a
worldPower 2009 67
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