REG - Soc EnergElectricaSA - Related parties transactions EFSA-OPCOM
03/03/2023 16:45
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RNS Number : 9036R Societatea Energetica Electrica SA 03 March 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: 3 March 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 31 January - 28 February 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.
According to the contractual conditions between EFSA and OPCOM in the
conventions in the table in the annex, invoices are issued with the date of
the last day of the month of delivery and are sent electronically either in
the first three working banking days of the following month, or in the first 5
working days of the following month for which the services are provided/months
of delivery/months in which the transactions are carried out (see the column
"Terms and payment methods"). Thus, some of the invoices included in this
report were received and registered after 28 February 2023 (the date when the
reporting threshold was exceeded), this represents the reason for the date of
this report.
CFO
Stefan
Frangulea
Annex: Details regarding the transactions concluded by EFSA with OPCOM in the
period 31 January - 28 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 135,960.17 18 August 2021 undetermined 65,000 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. Convention PC OTC, PCCB-LE-FLEX, PCCB-NC 963/28Dec.2022 Centralized Market organization and administration services with continuous 19.46 17 August 2021 undetermined N/A See Note 2 below The invoice related to the bilateral T trans value (to which VAT is added, as
double negotiation of bilateral and forward electricity contracts 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 PCSCV/ PC ESRE CV Centralized Market organization and administration services 114.68 17 August 2021 undetermined N/A See Note 3 below
962/ 28Dec2022 for electricity from renewable sources supported through green certificates
4. Convention NGM - long term 42679/2019 NGM Trading tariff - REMIT tariff 1.45 26 August 2019 undetermined N/A See Note 4 below 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.
5. Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 Sell - purchase of electricity - IM 5,938.41 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.
6. Agreement Data access and reporting for compliance with the provisions on the integrity 11.85 7 July 2021 undetermined N/A See Note 4 below The invoice will be issued and sent electronically (by e-mail) by OPCOM within
and transparency of the wholesale energy market (REMIT) no more than 5 working days from the date of receipt of the invoice from ACER
81670/1 Oct 2011 and will contain the breakdown of the fee charged by ACER in 2021 by
component.
AD3/1274/7Jul2021
The Market Participant undertakes to pay the invoice in full by bank transfer,
with a payment order, within a maximum of 5 working days from the date of its
receipt.
7. Agreement 55659/27Dec2022 MACEE Sale/purchase of electricity through 115,883.06 1 Jan 2023 31 Jan 2023 25,250 The Seller issues the invoice for the value of the electricity sold, with the
date of the last day of the month of delivery for which it is issued, and
The annual mechanism for the centralized purchase of electricity (MACEE) sends it to the Buyer, signed electronically, by email, in the first 4 bank
working days of the month following the month of delivery.
The invoice is issued by the Seller in accordance with the provisions imposed
under the Procedure regarding the receipts and payments related to the
quantities of electricity sold/bought through MACEE.
The payment obligations of the Buyer, for each day of delivery, are paid by
direct debit instructions issued by the Seller on bank working days.
AD1/27.Jan2023 1 Feb 2023 28 Feb 2023
8. Convention 52627/12Dec2022 MACEE Organization and administration services of the Centralized Electricity 32.65 12 Dec 2022 31 Dec 2023 115,000 The invoice related to the bilateral T trans value (to which VAT is added, as
Purchase Mechanism (MACEE) 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.
Seller: EFSA
Buyer: OPCOM
9. Convention No. 38156/ 18 Aug 2021 Sell - purchase of electricity - DAM 3,429.31 18 August 2021 undetermined N/A See Note 1 below The invoice related to the bilateral T trans value (to which VAT is 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.
10. Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 Sell - purchase of electricity - IM 5,708.77 17 August 2021 undetermined N/A See Note 1 below IM Participants issue the invoices, with the date of the last day of the
delivery month and send them to OPCOM S.A. by e-mail / fax, in the first three
working banking days of the month following the month of delivery and in
original or with electronic signature, at the latest by the 10(th) of the
month following the month of delivery. Payment is made by the 10th calendar
day of the following month.
Total executed amount during 31 January - 28 February 2023: RON 267,099.79 th.
Due and not due mutual receivables of EFSA from OPCOM at 27 Feb 2023: RON
-199.95 th.
Due and not due mutual debts of EFSA to OPCOM at 27 Feb 2023: RON -124,881.96
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.
Note 2: To pay, within five (5) working days from the date of transmission of
the request by OPCOM, the penalty provided by the Procedure.
Note 3: To pay the equivalent of the penalty, if, due to his fault, a
transaction on PCSCV is canceled.
Note 4: OPCOM has the right to suspend the execution of the obligations
assumed by the Agreement if the Beneficiary of the Services does not fulfill
his payment obligation in full, within a maximum of 5 (five) working days from
the date of receipt of the invoice, without prior notification being
necessary. During the suspension period, i.e. starting with the date
immediately following the deadline of maximum 5 (five) working days
(offer/transaction day, as the case may be) for the fulfillment of the payment
obligations, OPCOM is exonerated from any responsibility for the non-execution
of the obligations assumed by the Agreement. The suspension of the execution
of OPCOM's obligations will last until the moment when the Beneficiary of the
Services fully pays the outstanding amounts due to OPCOM.
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