With the recent amendment to Decree-Law 15/2022 of January 14, one of the most significant changes introduced was the regulation of the activity of registration and bilateral energy contracting (Articles 163-A to 163-F).
The registration and bilateral energy contracting activity encompasses the mandatory recording of all transactions carried out under bilateral energy contracts, where at least one party is a market participant.
Following these changes, Ministerial Order No. 367/2024/1, published on December 31, 2024, establishes the terms and conditions of the registration and bilateral energy contracting activity, providing further detail on the provisions of Decree-Law 15/2022.
For the purposes of the Ministerial Order, bilateral energy contracting is defined as the execution of a medium- or long-term energy purchase agreement (Power Purchase Agreement or “PPA”) between an energy seller and an energy buyer.
Among the various measures introduced, the referred Ministerial Order specifically regulates:
- Mandatory Registration of PPAs - PPAs are now subject to mandatory registration, which must include:
- Identification of the energy sellers and buyers;
- Terms of the energy purchase and sale, including the contracted volume, price, technology, contract duration, and the party responsible for energy scheduling associated with the PPA.
This registration does not exempt compliance with reporting obligations under Regulation (EU) No. 1227/2011 of the European Parliament and Council (REMIT).
- Managing Entity - The managing entity will be OMIP, S.A., responsible for overseeing the registration and bilateral energy contracting activity, ensuring the accuracy and validity of the information provided by sellers and buyers.
- New Electronic Platform - The activity of registration and bilateral energy contracting will be conducted through an electronic platform, monitored and controlled by the Managing Entity.
- Implementation Deadlines - The activity of registration and bilateral energy contracting, as well as the implementation of the referred platform, must be fully operational within 180 days of the publication of this Ministerial Order.
- Transitional Provision - Finally, PPAs in effect on the date the electronic platform becomes operational must be registered within 90 days from the platform's start date.
For more details, you may access the full text of Ministerial Order No. 367/2024/1.
