L 20926 Official Journal of the European Union 3.8.2013 COMMISSION DECISION of 2 August 2013 accepting an undertaking offered in connection with the anti-dumping proceeding concerning imports of crystalline silicon photovoltaic modules and key components (i.e. cells and wafers) originating in or consigned from the People’s Republic of China (2013/423[EV) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Council Regulation (EC) No 1225/2009 of 30 November 2009 on protection against dumped imports from countries not members of the European Community (') (‘the basic Regulation’), and in particular Articles 7, 8 and 9 thereof, After consulting the Advisory Committee, Whereas: (") ¢ A. PROCEDURE By Regulation (EU) No 513/2013 (%), the Commission imposed a provisional anti-dumping duty on imports into the Union of crystalline silicon photovoltaic modules and key components (i.e. cells and wafers) orig- inating in or consigned from the People’s Republic of China (PRC). B. UNDERTAKING 1. Undertaking offer Subsequent to the adoption of the provisional anti- dumping measures, a group of cooperating exporting producers, including their related companies in the PRC and in the European Union, and together with the China Chamber of Commerce for Import and Export of Machinery and  Electronic ~ Products  (hereinafter: ‘CCCME)) offered a joint price undertaking in accordance with Article 8(1) of the basic Regulation. The under- taking offer was also supported by the Chinese auth- orities. 2. Evaluation of undertaking offer The undertaking offer has been examined against the background of changed market circumstances between the moment of the submission of the undertaking offer and the investigation period in the investigation that led to the imposition of provisional measures. Observed changes relate to a drop of both price levels and L 343, 22.12.2009, p. 51. L 152, 5.6.2013, p. 5. consumption on the Union market and are linked to several factors established and analysed in the investi- gation that led to the imposition of provisional measures. Changes in price levels can sometimes be addressed in an undertaking by an indexation method which links minimum import prices to prices of raw materials as quoted in recognized and publicly available sources. However, no correlation between prices of raw materials and those of final products that would allow for a reliable indexation method could be established in the present case. In order to address an established change in price levels, an alternative method had to be established and price reports by representative and publicly ~ available  databases  (Bloomberg (})  and pvXchange (*) specialised in the sector concerned have been used as a reference. In order to ensure that the undertaking is practicable, the Chinese exporters presented a joint undertaking offer with one minimum import price for photovoltaic modules and one for each of their key components (i.e. cells and wafers). Further, in order to reduce the risk of company chan- nelling, and make it feasible and practical to monitor the number of participating exporters, the Chinese exporters offered to ensure that the volume of imports made under the undertaking would be at annual levels corresponding roughly to their current market performance. The exporters have offered a price undertaking. In order to assess whether that price undertaking removes the injurious effect of dumping, the Commission has analysed, inter alia, the current export prices and the level of provisional duty. On that basis, it was concluded that the price undertaking removes the injurious effect of dumping. The elimination of the injurious effect of dumping is therefore achieved by a price undertaking covering imports within an associated annual level and in addition an ad valorem provisional duty levied on imports above the annual level as referred to in recital 6 above. (°) Paid information available to Bloomberg Professional Service subscribers only. () http://www.pvxchange.com/