Commission Implementing Regulation (EU) No 1348/2014Show full title

Article 2 U.K. Definitions

For the purpose of this Regulation, the definitions in Article 2 of Regulation (EU) No 1227/2011 F1 ... shall apply.

In addition, the following definitions shall apply:

(1)

‘fundamental data’ means information related to the capacity and use of facilities for production, storage, consumption or transmission of electricity and natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities;

(2)

‘standard contract’ means a contract concerning a wholesale energy product admitted to trading at an organised market place, irrespective of whether or not the transaction actually takes place on that market place;

(3)

‘non-standard contract’ means a contract concerning any wholesale energy product that is not a standard contract;

(4)

‘organised market place’ or ‘organised market’ means:

(a)

a multilateral system, which brings together or facilitates the bringing together of multiple third party buying and selling interests in wholesale energy products in a way that results in a contract,

(b)

any other system or facility in which multiple third-party buying and selling interests in wholesale energy products are able to interact in a way that results in a contract.

These include electricity and gas exchanges, brokers and other persons professionally arranging transactions, and trading venues as defined in [F2 Article 2 of Regulation (EU) No 600/2014].

(5)

[F3 ‘group’ means a parent undertaking and all its subsidiary undertakings, within the meanings given in section 1162 of the Companies Act 2006;]

(6)

‘intragroup contract’ is a contract on wholesale energy products entered into with a counterparty which is part of the same group provided that both counterparties are included in the same consolidation on a full basis;

(7)

‘over-the-counter’ (OTC) means any transaction carried out outside an organised market;

(8)

‘nomination’ means,

• for electricity: the notification of the use of cross zonal capacity by a physical transmission rights holder and its counterparty to the respective transmission system operator(s)(TSOs),

• for natural gas: the prior reporting by the network user to the TSO of the actual flow that the network user wishes to inject into or withdraw from the system;

(9)

‘balancing energy’ means energy used by TSOs to perform balancing;

(10)

‘balancing capacity (reserves)’ means the contracted reserve capacity;

(11)

‘balancing services’ means,

• for electricity: either or both balancing capacity and balancing energy,

• for natural gas: a service provided to a TSO via a contract for gas required to meet short term fluctuations in gas demand or supply;

(12)

‘consumption unit’ means a resource which receives electricity or natural gas for its own use;

(13)

‘production unit’ means a facility for generation of electricity made up of a single generation unit or of an aggregation of generation units;

(14)

[F4 ‘ACER registration code’ means a registration code issued under the centralised European register of market participants maintained by the Agency;

(15)

‘data reporting system’ means a system established by the national regulatory authority under Article 10A;

(16)

‘gas day’ means a period from 5.00 a.m. to 5.00 a.m. the following day;

(17)

‘interconnection point’ has the meaning given in Article 3.2 of Commission Regulation (EU) 2017/459;

(18)

‘start date’, in relation to a data reporting system, means the date specified in a notice under Article 10A(2).]

Textual Amendments

F1 Words in Art. 2 omitted (31.12.2020) by virtue of The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/534), reg. 1(2), Sch. 2 para. 2(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Words in Art. 2(4) substituted (31.12.2020) by The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/534), reg. 1(2), Sch. 2 para. 2(3)(a); 2020 c. 1, Sch. 5 para. 1(1)

F3 Art. 2(5) substituted (31.12.2020) by The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/534), reg. 1(2), Sch. 2 para. 2(3)(b); 2020 c. 1, Sch. 5 para. 1(1)

F4 Art. 2(14)-(18) inserted (31.12.2020) by The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/534), reg. 1(2), Sch. 2 para. 2(3)(c); 2020 c. 1, Sch. 5 para. 1(1)