Template:M summ EFET Allowance Annex 4

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Much of this, we feel, is configuring a sale or option contract in an underlying that is more like a financial instrument than a commodity into the wiring of a master agreement that is designed to cater for the sale and trading of power, which is a curious type of commodity in that it doesn’t have an articulated unit, but is a free-flowing source of energy measured more by its volume. This all this business about nominating Delivery Points and Transfer Points doesn’t really make a lot of sense when you are delivering a dematerialised certificate from one custody account to another, and not sending volts through an electricity grid.

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