Obtaining ЕІС codes of type X for the electricity suppliers and traders on the electricity market
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After obtaining licenses for the supply or resale (trading) of electricity, it is also necessary to get an EIC code of type X to register a company as a new energy market participant.
What is EIC code of typeX?
ЕІС (Energy Identification Code) is the identification code of the electricity market objects and/or a commercial metering point.
This code is unique and aimed at identifying an electricity market participants. A company can’t be registered as a participant of the new electricity market without having this code.
Why is it necessary to obtain the EIC code of type X?
This code is required to supply electricity to consumers, as well as to resale electricity.
The code is required due to the fact that:
- The electricity supplier and trader in the new electricity market is the party that is legally and financially responsible for any imbalance between electricity nominated and consumed at all related metering points. Therefore, when signing an electricity imbalance settlement agreement, one of the mandatory details to be specified there is the EIC code of type X.
- This code is required to be specified when signining the Transmission Service Agreement with Ukrenergo NPC SE.
Interesting! These codes are also issued to consumers. However, the EIC codes are assigned to them by the Distribution System Operator when concluding Electricity Distribution Services Agreement.
Who issues the EIC code of type Х for electricity suppliers and traders and how long does it take to obtain it?
The ЕІС code of type X is issued by Ukrenergo NPC SE.
The procedure usually takes no longer that 6 business days following the date of registration in the system of issuing EIC codes.
Note! The application form for the code is to be filled in English. Once the application has been generated, it is subject to review by the administrator. The EIC code of type X is assigned after the application review.
Why is it so important to properly register ЕІС code of type Х?1) The EIC issuing authority is not responsible for the accuracy or completeness of the information provided when applying for an EIC code. Thus, the authority will not be liable for any losses that may arise as a result of any inaccuracies or insufficiency of the information provided when registering the EIC code.
Therefore, it is necessary to accurately and carefully fill in applications for the EIC code. If the application rejected, you may waste at least two days.2) In case of inaccurate information in the EIC code application, it will take you additional time to correct this data. You’ll have to create a request to the code issuing authority, which usually respond to the request within five (5) business days.
Service: Inclusion in the list of members of the wholesale electricity market of Ukraine
Electricity suppliers and traders are required to obtain the EIC code of type X to get registered as a participant of the new electricity market and to sign the necessary agreements, for example, with other market participants.
It is important to properly fill in the application for the EIC code of type X, in order to avoid any potential problems with further registration as a market participant and/or during the activity on the electricity market.
If you have any additional questions or you want to get qualified assistance in obtaining EIC code of type X, don’t hesitate to contact us in whatever way is convenient for you and we will find the most appropriate way to achieve the desired results.
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