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EFET launches Biomass standard contract for Wood-Pellets trading

Date

07 Mar 2013

Sections

Climate & Environment
Energy
Sustainable Dev.

Not only electricity or gas, the EFET “traditional” commodities: with the launch of a new industry-standard Biomass trading document, the European Federation of Energy Traders
(EFET)1 is providing a further momentum to the development of a liquid wood-pellets traded market.

EFET members have developed and endorsed a Long-Form Confirmation for trading woodpellets that accommodates interests of various stakeholders in cooperation with the IWPB
Group (Initiative Wood Pellet Buyers), representing companies using biomass in their production. The EFET Individual Biomass Contract equally accounts for the general complexity of a multi-layered regional regulation.

The EFET Individual Biomass Contract is a result of over two years of dedicated work of a drafting sub-group of the EFET Legal Committee, under the leadership of the Task Force Chair Mrs. Judith de Boeye (RWEST) and the external legal counsel Mr. John Varholy (Reed Smith).

“The adjustments to the standard EFET documentation were kept to a minimum and driven by the specifics of the commodity itself and the shipping requirements” commented the Chairman of the EFET Legal Committee Jan Haizmann. “Then, the trading community had to discuss and agree upon key conceptual and commercial issues – such as quality specification for the biomass, sustainability criteria and remedies and regulation in the different jurisdictions”.

Industry discussions on sustainability issues currently continue at European level as the woodpellets market can be considered still at an infancy stage of maturity, but today EFET is delighted to announce the publication of the EFET Individual Biomass Contract (freely available on the EFET standardization web pages).

²EFET will conduct a workshop on 28 March 2013, to inform market users about the mechanics and specifics of the EFET Individual Biomass Contract.

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For more information please contact:
Lenka Hajnovicova, Secretary of the EFET Legal Committee: L.Hajnovicova@efet.org
Tel: +32 (0) 2 7325474
1 The European Federation of Energy Traders (EFET) promotes and facilitates European energy trading in open, transparent and
liquid wholesale markets, unhindered by national borders or other undue obstacles. EFET currently represents more than 100
energy trading companies, active in over 27 European countries. For more information: www.efet.org.

 

 

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