Q. If a disclosing entity has customers for whom it acts as reconciling agent, but which it bills at full spot prices payable at the same time as market settlement, can these sales be netted off from the reported electricity purchased from the clearing manager?

A. Yes, it would be appropriate to net these sales off. This is consistent with the intent of clause 13.236E(2), which is designed to ensure that reported sales to/purchases from the clearing manager are those made on behalf of the disclosing participant - i.e. where the disclosing participant is taking the spot price risk.