SPOT Market

Explanatory note on the calculation method for the "Global WAP" and "Global WAP Quantity" values

Global Weighted Average Price (Global WAP)
Global WAP represents the weighted average price for each gas delivery day, determined by allocating the corresponding transactions concluded for the Day Ahead, Weekend, Extended Weekend and Monday products, reported to the respective delivery day. The indicator is calculated exclusively at the Day Ahead product level, in order to reflect, in a consolidated manner, the transactions related to the same gas day.

Quantity – Global Weighted Average Price
The displayed quantity represents the total volume for each gas delivery day, resulting from the allocation of the volumes traded for the Day Ahead, Weekend, Extended Weekend and Monday products, reported to the respective delivery day. The indicator is calculated exclusively at the Day Ahead product level, in order to reflect, in a consolidated manner, the transactions related to the same gas day.

1. 1. Pre-registration – Required documents:

• Balancing and Access to the Virtual Trading Point (VTP) Agreement concluded with SNTGN Transgaz S.A.;
• Licence issued by the National Energy Regulatory Authority (A.N.R.E.);

1. 2. Registration – Registration documents:

• Participation Convention for the energy markets administered by BRM
• Framework Agreement for the provision of counterparty services for the short-term products market
• Data reporting agreement to REMIT
• Unique Registration Certificate

1. 3. Market Access – The participant’s legal representative:

• Power of attorney for individuals;

1. 4. Trading access – Establishment of guarantees:

• Execution of a Direct Debit Mandate in favour of BRM;
  • List of banks participating in the SEPA direct debit scheme
  • BRM account for preparing the mandate – IBAN: RO64 RNCB 0082 0009 9180 0001
• Submission of guarantees in the form of:
  • Cash – IBAN: RO50 RNCB 0082 0009 9180 0641
  • Bank guarantee letter (endorsed by BCR and sent via SWIFT message)
  • Escrow account (opened at BCR in favour of BRM)

1. 5. Post-trading – Financial settlement and physical nominations:

• Financial settlement is carried out by BRM through the counterparty mechanism.
• Physical nominations are performed by BRM and sent to the TSO.

BRM’s support department will assist you throughout the entire admission process.
Support department email: gaze@brm.ro – landline 021.317.45.60, ext. 106
Contact person: Muraru Ionela, email ionela.muraru@brm.ro – Phone 0730.710.387.

Note: In order to optimise the document management process, we recommend using an electronic signature.
However, if you wish to use a handwritten signature, please send two original copies in physical format.