EFET General Agreement (Power)

ALPEX is the organised exchange. Many desks still sign a bilateral master agreement for OTC and physical delivery deals. In Europe that paper is usually this EFET General Agreement.

The file is a template. Two companies fill the names, the Effective Date and the Election Sheet. Until they sign, it is not their contract.

Energy Traders Europe (the brand name of EFET since 25 January 2024) says users must check that the terms work in their own jurisdiction. This Wiki page is not legal advice.

Official source: the attached PDF, Version 2.2 (consolidated), 17 June 2025. TradingDesk explanation: the master text plus each Individual Contract are meant to form one agreement.

Interesting topics in the file: concluding and confirming individual contracts, delivery and acceptance, delivery schedules, measurement, options, force majeure, trade restrictions, failure to deliver or accept, suspension, term and termination, termination amount, limitation of liability, invoicing and payment, VAT and taxes, floating prices and market disruption, guarantees and credit support, performance assurance, assignment, confidentiality, governing law and arbitration.

Annexes include defined terms and confirmation forms for fixed price, floating price, call option and put option. An Election Sheet lets the parties switch clauses on or off and add extra wording.

This is not an ERE decision and not Law 59/2026. In Albania, a signed EFET deal still sits next to ALPEX rules, OST nominations and imbalance settlement. Physical energy may still have to go through the exchange under the later ALPEX rules. Read those Albanian PDFs for that question.

If a portfolio has a PPA or an OTC hedge, open this page next to OTC and bilateral contracts. Record whether the counterparties signed an EFET master, which Election Sheet they used, and whether the energy still has to be nominated on ALPEX.