The receiving party must have successfully prequalified for an auction for that Delivery Year, or for secondary trades for that Delivery Year. They cannot have received an obligation via the Capacity Auction (unless they hold an obligation for less than their De-rated capacity).
Trading can start after the year ahead auction for the Delivery Year and continue throughout the Delivery Year.
The obligation of either CMU is not changed by the trade. The buyer would be considered to have met its obligation via a combination of any output of its own and that nominated from other CMUs. The seller would not receive over delivery payments for any MW transferred to another CMU.
The CM Settlement Body administers this process, ensuring that limits on the volume to be reallocated and controls around which parties can reallocate excess output in the CM Rules are followed.
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