The organisation of a power exchange in Belgium is governed by the Royal Decree of October 20th, 2005, on the establishment and the organisation of a Belgian market for the exchange of electricity blocks.
The Royal Decree stipulates that, as a prerequisite to operating a power exchange, a license must be obtained from the Minister of Energy. License candidates must show that their shareholder structure, management structure, administrative organisation and financial organisation meet the requirements set out in the Royal Decree.
EPEX SPOT Belgium, named Belpex at the time, has obtained its license as power market operator on January 11th, 2006
The Royal Decree stipulates further that the market operator must establish Market Rules for its market and submit those for approval to the Minister of Energy.
EPEX SPOT Belgium (formerly Belpex) has established the Market Rules for its Spot Market. The rules indicate the conditions that must be met to be admitted to the EPEX SPOT Market, the obligations incumbent upon both the participants of the Spot Market and EPEX SPOT, as well as the general principles in respect of market operations, order submission, fixing and dispute settlement.
The EPEX SPOT (formerly Belpex) Market Rules are further implemented in a set of Market Procedures and Communications:
- Admission and Access Procedure, which sets out the detailed conditions to be fulfilled to become a Participant of the EPEX SPOT Market;
- Fee, Invoicing and VAT Procedure which contains the different fees related to the EPEX SPOT Market, as well as the invoicing rules and the VAT application;
- User Procedure, which contains a detailed description of all activities related to and the information relevant for trading on the EPEX SPOT Market;
- Market Segment Procedure, which provides detailed information about the different Market Segments of the EPEX SPOT Market;
- Communications, which are binding announcements made by EPEX SPOT to its Participants in the situations as identified in the Market Rules or in the Market Procedures.
To be able to trade on the Market Segments of the EPEX SPOT Market, an interested party must enter into a (Indirect) Participation Agreement with EPEX SPOT. Both the Market Rules and Market Procedures are part of this (Indirect) Participation Agreement.
An interested party must also enter into a Participation Agreement CSS (“Clearing and Settlement Services”) with ECC, who organises the clearing and settlement of the contracts concluded on the EPEX SPOT Market.
Finally, in order to deliver the electricity traded on the EPEX SPOT Market, an interested party or a third party designated by him, must enter into an Access Responsible Party Contract with Elia, the Transmission System Operator.
A copy of the above-mentioned documents can be obtained below.
(Indirect) Participation Agreement
Participation Agreement CSS
A clearing and settlements agreement with ECC is required for trading on EPEX SPOT Belgium (formerly Belpex). Please refer to the ECC website for this agreement.
Access Responsible Party Contract
Please visit the Elia website to consult the standard Access Responsible Party Contract.