How to apply for an international status for the EIC code?
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Trade in electricity is always an advantageous, relevant and quite profitable business. Recently, Ukraine has been increasingly integrated into the European Union, there are ample opportunities for doing business, including in the electricity market.
Recently we were contacted by a client with a request to join the New Auction Platform (NAP) ensuring distribution of capacity of interstate connections (power grids) for import and export of electric energy and opening of new wide opportunities of electric energy trade to Europe.
The relevant contracts have been concluded, and access to the platform has been obtained. However, opening up opportunities to trade electricity in Europe involves additional agreements and, just as importantly, obtaining international status for the ЕІС code. Thus, we faced a new challenge.
Please note! The ЕІС code is an obligatory condition for starting business in the electricity market and the basic condition for the possibility to make deals in this market.
Each company having the status of a market participant has an ЕІС-code, which is the starting point of market inclusion. However, the European platform needs this code with an international status.
The need to obtain the ЕІС-code of a Party within the IEM (Energy Internal Market) arises from the fact that:
- the electricity supplier and trader in the new electricity market are the party that is legally and financially responsible for any imbalance between the allocated and consumed electricity at all associated metering points;
- this code is used for subsequent contracting in the market.
The ЕІС-code with an international status is assigned by UKRENERGO, NCP.
You may also like: The List and Forms of Documents for Obtaining an Electricity License
Registration of an ЕІС-code with international status
Seemingly quick procedure is quite confusing in practice.
The whole complexity of registering your own ЕІС-code with international status is the need to accurately specify a set of data for its receipt, to comply with the practical requirements for filling out application forms, in case of violation of which the ЕІС-code will be denied.
Each application is considered within approximately 5 days.
The issuing authority is not responsible for the accuracy and completeness of the information you provide when applying for an ЕІС-code. Therefore, the authority will not be responsible for any losses that may occur due to any inaccuracies or insufficiency of the information you provide when registering the ЕІС-code.
That’s why you need to formulate your application for registration of the code accurately and carefully, because if you are rejected, you can lose at least two days of your time.
If you fill in the wrong data when applying for an ЕІС-code, you will need to make a request to the issuing authority later to correct the data. You will have to wait about 5 business days for an answer on the changes.
You may also like: Developing Agreements for the Electricity Provider
How do we help you register an ЕІС-code?
The lawyer’s task is to make sure that all the documents required for registration are properly prepared and available. We independently register our Clients in the office and carry out the whole procedure of obtaining the code without the Client’s participation.
You just need to provide us with the following documents:
- the EDRPOU code;
- the existing EIC-code (valid on the territory of Ukraine);
- data for logging in to the portal;
- an electronic key for the formation and submission of the application.
We can also do everything from scratch. For example, if you have just obtained a license, but already have forward-looking plans, in this case the EDRPOU code and EDS will be enough.
Our lawyers provide services not only for obtaining the ЕІС code, we accompany the conclusion of contracts at all stages of market inclusion and guarantee access to all platforms necessary for doing active and profitable business.
Be it obtaining an EIC with an international status or supporting the entire procedure of joining the European electricity market, we guarantee a fast, quality and convenient service.
If you have any additional questions or want to get qualified assistance, don’t hesitate to contact us in any way convenient for you. We will consider possible ways to implement your interests.
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