It is difficult to predict whether the importance of over-the-counter trade in the electricity market will increase or decrease over time. However, one aspect is clear: large power plants will continue to minimize their price risks through long-term over-the-counter trade agreements. In addition, there is currently no indication that long-term trade is fully institutionalized and renders long-term OVER-the-counter contracts obsolete. However, over-the-counter trade has become less attractive to short-term trades; Shorter trading and delivery times make trading an attractive option. In the long term, it is possible to transfer the trade in renewable energy to the over-the-counter market with the expiration of subsidies. In the absence of subsidies, OTC is a better option for long-term and term futures (“Power Purchase Agreement” or “AAE”). In the long term, trade in renewable electricity generation is likely to move from short periods to long periods of trade, previously defined individually in bilateral agreements. One party is not liable to the other party for the damage suffered by the other party, with the exception of z.B for non-delivery and acceptance remedies, unless the damage is due to gross negligence, deliberate delay or fraud by a party. Conversely, this means that a party is still responsible for non-delivery or acceptance, whether the party acted with light or serious negligence, deliberate delay or fraud. The EFET Legal Committee coordinates the various legal working groups and subcommittees as well as the committee`s standards committee.
The Committee on Legal Affairs has developed and published several standardized documents to facilitate the trade in energy and energy-related raw materials. These documents have become the most common standard master contracts in Europe for the wholesale trade in physical electricity, natural gas and CO2 emission allowances. Hera Trading has concluded EFET agreements with all major partners in the European gas and electricity markets, as well as with the major Italian operators, as well as with the main financial players of ISDA. b) Decrease in negotiations: each party negotiates without delay in good faith to agree with the other of a PPU or a method of determination. In the absence of an agreement before the 5th business day following the settlement date, the following return mechanism applies; In accordance with Article 7 of the EFET agreement, the definition of force majeure has three elements: the agreements and the ASSOCIATED EFET library, with additional documentation, are currently the industrial standards applicable to the trade in physical energy and gas throughout Europe.