Timeliness Calculations - REMIT
|
Category |
How to identify |
Message Required Submission Calculation |
|---|---|---|
|
Transactions executed on OMPs |
[Contract Name] is not populated with “BILCONTRACT” or “EXECUTION” |
T+1 BUSINESS DAY FROM TRANSACTION TIMESTAMP |
|
Transactions executed bilaterally relating to standard contracts |
[Contract Name] is populated with “BILCONTRACT” and Contract Details match a Contract present on the REMIT list of Standard Contracts |
T+1 BUSINESS DAY FROM TRANSACTION TIMESTAMP |
|
Transactions executed bilaterally relating to non-standard contracts with an agreed price and quantity |
[Contract Name] populated with “BILCONTRACT” and Contract Details do not match a Contract present on the REMIT list of Standard Contracts |
T+1 MONTH FROM TRANSACTION TIMESTAMP |
|
Transactions executed within the framework of a separately reported non-standard contract |
[Contract Name] populated with “EXECUTION” |
T+1 MONTH FROM TRANSACTION TIMESTAMP |
Fields used to match a reported contract to the REMIT standard contract list:
-
Delivery Point or Zone
-
Energy Commodity
-
Contract Type
-
Load Type
For Bilateral Contracts, distinguishing between Standard and Non-standard contracts requires referencing the REMIT List of Standard Contracts