Registration of the supplier on the new (wholesale) electricity market: the procedure and necessary steps
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If you want to supply electricity to consumers, you need to become an electricity market participant.
Without passing the registration procedure and obtaining the appropriate status, it is impossible to carry out any activities related to supply, trading or generation/production of electricity!
In this article, we will elaborate on the stages and important aspects of a new electricity market participant registration. We will direct your attention to the key peculiarities of the registration procedure and discuss the potential problems that may arise during the process.
1. The first stage after receiving the electricity supply license is obtainment of an EIC code, which will identify your company among other electricity market participants.
EIC code is also required for signing a number of agreements:
- While registering as a market participant;
- While carrying out work activities related to the supply of electricity.
This stage involves applying for the EIC code to the local issuing authority.
2. The second stage involves signing of the Electricity Transmission Service Agreement with the Transmission System Operator (TSO).
This Agreement provides terms and conditions for the transmission of electricity to consumers by the supplier.
Note! The TSO usually reviews the set of documents submitted for signing this Agreement within fourteen (14) business days. The TSO considers only a complete set of properly executed documents.
If the documents are properly executed, you will receive a corresponding agreement signed by the Transmission System Operator within fourteen (14) business days. The Agreement shall be signed by the Director of your company and sent to the Transmission System Operator’s address.
3. The third stage involves signing of the Electricity Imbalance Settlement Agreement and submission of an application and the relevant attachments for the registration as a market participant.
The Imbalance Settlement Agreement provides for transparent and clear settlement of electricity imbalances with the Transmission System Operator. This is important because your company, as a future market participant, is a Balance Responsible Party.
After you submit the full set of documents, Ukrenergo, SE considers the documents within three (3) business days.
The set of documents shall also include a soft copy of the registration application.
Ukrenergo, SE, when applicable, requests additional information or supporting documents.
Note! The reasons for application rejection include:
- Incomplete data;
- False information.
In case of a positive decision, the Transmission System Operator enters the market participant’s data into the respective Systems and notifies you about the registration date.
As a result, your company is included in the official list of market participants and receives access to online platforms.
Ukrenergo, SE creates and keeps the Register of Market Participants updated. This Register can be found on the relevant website.
What, in addition to the license, does a company need to register as a market participant?
- VAT payer status;
- Account with a special mode of use opened with a bank authorized by the Cabinet of Ministers of Ukraine;
- Keys for electronic digital signature for the employees that will work on the market online platforms;
- Financial guarantee to ensure the fulfillment of obligations under the Electricity Imbalance Settlement Agreements.
What benefits can legal support and assistance bring you in this regard?
- Prioritizing of the registration steps. Our lawyers will identify and properly address urgent tasks that will allow you to become an electricity market participant in the shortest possible time;
- Understanding of the theoretical and practical aspects of the registration procedure. We will help you to avoid unforeseen situations during the registration on the electricity market.
If you want to learn more about the procedure for a market participant registration or to rely on legal support during the registration, please feel free to contact us in the way most convenient for you.