Monday, September 23, 2013

New Regulations for the Romanian Bilateral Contracts Market for Green Certificates

The Romanian Energy Regulatory Authority (ANRE) adopted a new set of guidelines establishing supplementary adjustments for all participants on the green certificates market: seller, vendors and the operator itself (OPCOM). By adopting the order no. 57/2013 ANRE aims to introduce a solid framework for the functional organization of the green certificates market in Romania. Providing a transparent environment for the bilateral contracts market for green certificates translates into an effective optimization which further encourages the development of the renewable energy sector. They provide an explicit description regarding the organization of public tenders which must be notified through an announcement of OPCOM placed on the online platform. This announcement will contain information concerning the sell or buy offer. The auction session data will be updated automatically keeping the participants incessantly informed about significant aspects related to this process. In the event of dealing with two identical offers which means they share the same best price the public tender has to be resumed within 45 minutes following exclusive procedures. If the second session does not designate a winner the typical steps required for a regular session should be resumed. Any transaction completed through the indicated procedures comes with the obligation to conclude a bilateral contract for the one who is the winner of the session. Any complaint may be submitted within two business days and its solution will be provided within 24 hours of submission.

OPCOM must provide the two involved participants with final data regarding the completed session within 24 hours. Each participant is required to sign and comply with the terms of the contract. For the seller there is mentioned a new obligation specifying that copies of the contracts should be submitted to both OPCOM representatives and ANRE within five days of signing the documents. The data will be subject to verification by OPCOM that must allow a 24-hour recess to perform necessary changes. According to new regulations OPCOM has the liberty to suspend any participant provided that the designated party has not updated individual data contained in the participants register or in the green certificates register. Our law firm engages in providing any additional details about the changes occurred in this domain always pointing out the dynamic character of all legal aspects regarding the Renewable Energy Market in Romania. Being a hyperactive industrial segment the renewable energy field is subject to inevitable changes altering the evolution of the green certificates market. Our group of lawyers is committed to indicating all adjustments describing the development of this specific domain making available the necessary information able to clarify inherent ambiguities.

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