Template:M summ EUA Annex Final Delivery Date

Final Delivery Date is only relevant on a Failure to Deliver — in the ordinary course, the date at the end of the Transaction where the Seller delivers up the EUAs is just a plain old Delivery Date — even ~ sigh ~ if it also is a Delayed Delivery Date. You get the sense the ’squad was having a bit of a crisis of confidence when they put this Annes together, don’t you.

What is the relevance of the Final Delivery Date?

The final delivery date is relevant in the context of a failure to deliver and it is designed to give a window to remedy that failure to deliver before a Reconciliation Deadline. This is designed to fall inside the period in which counterparties which are physical operators and who actually need to surrender the EUAs to offset their actual carbon emissions can still surrender their EUAs and avoid an excess emission penalty under the terms of the EU ETS.