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What it is

Energy offers within the same group count as bilateral contracts

BOE step 7 of 7 · Passed

It is a royal decree-law. It was introduced on 27 February 2006. Introduced by: Gobierno.

Official title: Royal Decree-Law 3/2006, of February 24, modifying the mechanism of the settlement of sale and purchase offers for energy submitted simultaneously to the daily and intraday production market by subjects of the electric sector belonging to the same business group.

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Source: Congreso de los Diputados, file 130/000030· updated 11 Nov

Automatic summary, not yet reviewed

  1. Buy and sell offers for electricity submitted at the same time by companies in the same business group, in the daily and intraday markets and for the same scheduling period, are treated as physical bilateral contracts for the matching amounts. They can then take part in the market clearing only with the group's net position, which may be as a buyer or a seller.
  2. The Government will set a provisional price and a final price for the electricity that distribution companies buy through this mechanism, based on objective and transparent market quotations.
  3. From March 2, 2006, the pay received by electricity producers is reduced by the value of greenhouse gas emission allowances given to them free of charge. That value is also deducted when calculating the 2006 tariff deficit.
  4. The measure applies from March 2, 2006 for the market clearings of March 3. Before that date, market agents must tell the market operator which business group they belong to.

Who it affects

  • Electricity companies in the same business group that buy and sell at the same time in the daily and intraday markets: Their matching offers are treated as bilateral contracts and they clear the market only with the group's net position.
  • Distribution companies: They buy electricity through the matching mechanism and receive a provisional and a final price set by the Government.
  • Electricity producers under the ordinary regime: Their pay is reduced by the value of the emission allowances they received free of charge.
  • Market operator and system operator: They match the offers, notify the parties and apply the prices in the settlement of regulated activities.

Words worth knowing

Casación
The process in which the market operator matches buy and sell offers to set the price and amounts of electricity.
Contrato bilateral físico
A direct electricity purchase and sale agreement between two parties, with actual delivery of the power, outside the daily market.
Posición neta
The result of subtracting what a group buys from what it sells; it can end up as a buyer or a seller.
Derechos de emisión
Permits to emit greenhouse gases, given free to producers and with a market value.
Déficit tarifario
The negative gap between the cost of regulated electricity supply and the revenue collected through tariffs.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 7 of 7 steps. It reached BOE, and today it is passed.

  1. Introduced27 February 2006Someone registers the text in the Congreso.
  2. Admitted14 March 2006The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendmentsno dateGroups propose changes.
  4. Committeeno dateA committee goes through the text in detail.
  5. Plenary14 March 2006All 350 deputies vote.
  6. Senateno dateThe Senate can pass it, amend it or veto it.
  7. BOEno dateIt is published in the Official State Gazette (BOE) and comes into force.
See the 4 official steps on a timeline
Feb 200611. 27 February 2006: Presentación22. 14 March 2006: Calificación33. 14 March 2006: Pleno Convalidación desde 14/03/2006 hasta 23/03/200644. 23 March 2006: Concluido - (Convalidado) desde 23/03/2006 hasta 29/03/2006

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

It is law, or will be once published in the BOE. It comes into force on the date its own text sets.

Published in the BOE: Royal Decree-Law 3/2006, of 24 February, amending the mechanism for the settlement of sale and purchase offers for energy submitted simultaneously to the daily and intraday production market by entities of the electricity sector belonging to the same corporate group.

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

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