Paragraph 3

(1)

Article 3 (list of reportable contracts) is amended as follows.

(2)

At the beginning insert—

“A1.

Paragraphs 1 and 2 apply—

(a)
as regards wholesale energy products relating to—

(i)
the supply of electricity or natural gas with delivery in Great Britain; or

(ii)
the transportation of natural gas in Great Britain,

from the start date of any data reporting system established by the GB Authority;

(b)
as regards wholesale energy products relating to—

(i)
the supply of electricity or natural gas with delivery in Northern Ireland; or

(ii)
the transportation of natural gas in Northern Ireland,

from the start date of any data reporting system established by the NI Authority.”.

(3)

In paragraph 1—

(a)

in the words before subparagraph (a), for “to the Agency” substitute “to the GB Authority if they fall within paragraph A1(a) and to the NI Authority if they fall within paragraph A1(b);

(b)

for “the Union”, in each place that it occurs, substitute “Great Britain or Northern Ireland”.

(4)

After paragraph 1 insert—

“1A.

For the purposes of paragraphs A1 and 1, any contract made in the SEM relating to the supply or transportation of electricity, or derivative of such a contract, is to be treated as a contract or derivative relating to the supply of electricity for delivery in, or the transportation of electricity in, Northern Ireland.”.

(5)

In paragraph 2—

(a)

omit the first subparagraph;

(b)

in the second subparagraph—

(i)

for the words from the beginning to “organised”, substitute “Organised”;

(ii)

for “Agency”, in the second and third places that it occurs, substitute “national regulatory authority”.

(6)

After paragraph (2) insert—

“3.

If a wholesale energy product referred to in paragraph 1 or 2 is not required to be reported to the GB Authority, or to the NI Authority, under those paragraphs because a data reporting system is not in operation, it must be reported to that authority upon a reasoned request by that authority.”.