Template:M summ EFET Allowance Annex EEP and EEP Equivalent

An EEP is a penalty payment made by a European emitter who is actually a Buyer under an Allowance Transaction who misses the deadline for surrendering Allowances as a result of a failure by a Seller to settle a Transfer under that transaction. An EEP Equivalent is an amount for which a Buyer becomes liable to a third party European emitter under a different Allowance Transaction — along the contractual chain, as it were, which is occasioned by Seller settling a Transfer under this one. One is an actual penalty, the other one a delta-one derivative of a penalty, and both amount to the same thing, so you would like to think Carbon Squad could have come up with a better term than “EEP or EEP Equivalent” to define it. At least, we suppose, they didn’t say, “... as the case may, for the time being and from time to time, without limitation, be”.