REG - Soc EnergElectricaSA - Related parties transactions EFSA - OPCOM
01/02/2023 16:15
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RNS Number : 6378O Societatea Energetica Electrica SA 01 February 2023
To: Romanian
Financial Supervisory Authority (FSA)
Bucharest Stock Exchange (BSE)
London
Stock Exchange (LSE)
Current report in compliance with the Law 24/2017 on issuers of financial
instruments and market operations, FSA Regulation no. 5/2018 on issuers of
financial instruments and market operations, and the Bucharest Stock Exchange
Code
Report date: 1 February 2023
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1(st) District, Bucharest,
Romania
Phone/fax no.: 004-021-2085999/ 004-021-2085998
Fiscal Code: RO 13267221
Trade Register registration number: J40/7425/2000
Subscribed and paid in share capital: RON 3,464,435,970
Regulated market where the issued securities are traded: Bucharest Stock
Exchange (BSE) and London Stock Exchange (LSE)
Significant events to be reported: Transactions with related parties according
to Art. 108 of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA),
subsidiary of Societatea Energetica Electrica SA (Electrica), with OPCOM
Electrica informs its shareholders and investors about the
conclusion/execution, in the period 23 December 2022 - 31 January 2023, of
some transactions between EFSA, Electrica's subsidiary, and OPCOM, whose
cumulated value exceeds the threshold of 5% of Electrica's net assets,
according to Electrica's individual financial statements at 30 June 2022,
respectively exceeds the value of RON 199,059,726.
Details regarding these transactions, containing information about the date of
execution, type of transaction, description of its scope, total value of the
transaction, expiry date, mutual debts and receivables, guarantees, penalties,
payment due dates and methods are presented in the Annex below.
Note: Some invoices issued between 23 December 2022 and 4 January 2023 were
received, for reasons independent of EFSA, after 4 January 2023, so the
transactions related to these invoices were included in this report.
CFO
Stefan Frangulea
Annex: Details regarding the transactions concluded by EFSA with OPCOM in the
period 23 December 2022 - 1 February 2023 of the kind listed in Art. 108 of
Law No. 24/2017
Agreement Type and No., execution date Scope of the agreement Value of transactions (RON th.) Date of entry into force Expiry date Guarantees (RON th.) Penalties (RON th.) Payment due dates and payment methods
Buyer: EFSA
Seller: OPCOM
1. Convention No. 38156/ 18 Aug 2021 Sell - purchase of electricity - DAM 215,304.94 18 August 2021 undetermined 35,000 See Note 1 below OPCOM S.A. issues the invoices with the date of the last day of the delivery
month and sends them, electronically signed, by e-mail, to the DAM
Transaction and administration tariff - DAM Participants in the first three working banking days of the month following
the delivery month. The DAM participant has the obligation to ensure the
necessary funds in the current account opened with the Settlement Bank, in
order to debit the amounts related to the value of the net payment
obligations.
2. Conventi0n PCB 963/ 28Dec2022 Prestarea de OPCOM a serviciilor de organizare si administrare a Pietei 27.60 17 Aug 2021 undetermined N/A - The invoice related to the bilateral T transactions value (to which VAT is
Centralizate Bilaterale cu negociere added, as the case may be) is sent electronically (by e-mail) in the first 3
working days of the month following the month in which the electricity
sale-purchase transactions were made. Payment by bank transfer, with payment
order, within a maximum of 5 working days from the date of receipt of the
invoice.
3. Convention PCCB LE FLEX 38104/ 17Aug2021 Trading tariff PCCB-LE FLEX 27.86 17 Aug 2021 undetermined N/A -
4. Convention PC ESRE CV 962/ 28Dec2022 Centralized Market organization and administration services 12.54 28 Dec 2022 undetermined N/A - DAM participants issue invoices, with dates of the last day of the delivery
month, and send them to OPCOM S.A. by email/fax, in the first three bank
for electricity from renewable sources supported through green certificates working days of the month following the month of delivery and in original or
with an electronic signature, at the latest by the 10th of the month following
the month of delivery.
Payment is made by the 10th calendar day of the following month.
5. Convention 52627/12Dec2022 Trading tariff - The annual mechanism for the centralized purchase of 88.38 12 Dec 2022 31 Dec 2023 N/A -
electricity -
MACEE
6. Convention NGM - long term 42679/2019 NGM Trading tariff - REMIT tariff 0.53 26 August 2019 undetermined N/A - The invoice is sent electronically (by e-mail), monthly, to the contractual
partner, in the first 5 working days of the month following the month for
which the services are provided and it will include 1/12 of the annual value
of each tariff (to which VAT is added as the case may be). Payment is made in
maximum 5 working days from the date of receipt of the invoice.
7. Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 Sell - purchase of electricity - IM 1.56 17 August 2021 undetermined 17,401 See Note 1 below OPCOM issues invoices dated the last day of the month of delivery and sends
them, electronically signed, by email to the Participants on IM in the first
Trading and administrative tariffs - IM three working banking days of the month following the month of delivery.
The IM participant has the obligation to ensure the necessary availability in
the current account opened at the Settlement Bank, in order to debit the
amounts related to the value of the net payment obligations.
The payment of the transaction and administration fee invoice - IM is made by
the participant in the respective market, in full by bank transfer, with
payment order, within a maximum of 5 working days from the date of receipt of
the invoice.
Seller: EFSA
Buyer: OPCOM
8. Convention No. 38156/ 18 Aug 2021 Sell - purchase of electricity - DAM 4.33 18 August 2021 undetermined N/A - DAM participants issue invoices, with dates of the last day of the delivery
month, and send them to OPCOM S.A. by email/fax, in the first three bank
working days of the month following the month of delivery and in original or
with an electronic signature, at the latest by the 10th of the month following
the month of delivery. Payment is made by the 10th calendar day of the
following month.
Total executed amount during 23 December 2022 - 1 February 2023: RON
215,467.74 th.
Due and not due mutual receivables of EFSA from OPCOM at 30 Jan 2023: RON
-689.04 th.
Due and not due mutual debts of EFSA to OPCOM at 30 Jan 2023: RON -227,902.81
th.
Note 1: Major non-fulfillment of the payment obligation entitles OPCOM to
suspend the DAM/IM Participant's right to trade for a maximum of one month.
The suspension is lifted after the payment has been made. It constitutes a
situation of non-fulfillment of the obligations by a DAM/IM Participant, the
situation in which the DAM/IM participant's account does not have sufficient
availability related to the payment obligation, having as a consequence the
Bank's refusal to execute the direct debit instruction and the issuance by
OPCOM of the request of payment in execution for the amount owed
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