REG - Soc EnergElectricaSA - Related parties transactions - EFSA - OPCOM
05/09/2023 15:00
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RNS Number : 4593L Societatea Energetica Electrica SA 05 September 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: 5 September 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 1 July - 31 August 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 31 December 2022, respectively
exceeds the value of RON 199,818,824.
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 31 August 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 1 July - 31 August 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. 65/7473/ 3 Feb 2023 Sell - purchase of electricity - DAM + IM 165,516.83 1 Jan 2023 undetermined 82,041 See Note 1 below The buyer must ensure the necessary financial availability to debit the
account opened at the Settlement Bank, at the amount requested by OPCOM S.A.
Transaction and administration tariff through the direct debit instruction calculated according to the Daily
Settlement Notes, at the terms provided in the SEPA Direct Debit Mandate and
to document, monthly, the collection of rights and the payment of mutual
obligations, of equal value, by accessing the compensation/regularization
mechanisms provided in the "Procedure regarding receipts and payments related
to transactions on the Market..."
OPCOM S.A. issues the invoices dated the last day of the month of delivery and
sends them, signed electronically, by email, to the Participants in the first
three banking days of the month following the month of delivery.
The 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.
2. Convention PC OTC, PCCB-LE-FLEX, PCCB-NC 963/28Dec.2022 Centralized Market organization and administration services with continuous 12.81 28 Dec 2022 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 162.13 28 Dec 2022 undetermined N/A See Note 3 below
962/ 28Dec2022 for electricity from renewable sources supported through green certificates
4. Agreement Data access and reporting for compliance with the provisions on the integrity 1.90 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.
5. Agreement 55659/27Dec2022 MACEE Sale/purchase of electricity through 143,222.93 1 Mar 2023 31 Jan 2023 25,250 The buyer has the obligation to have and maintain a cash account (lei) at a
commercial bank in Romania and to conclude a SEPA Direct Debit Mandate by
AD4/26Apr2023 The annual mechanism for the centralized purchase of electricity (MACEE) which he authorizes that OPCOM S.A. to issue whenever necessary an IDD on his
account in accordance with the provisions imposed under the Procedure
AD5/25May2023 regarding collections and payments related to sales and purchases through
MACEE.
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
sends it to the Buyer, signed electronically, by email, in the first 4 bank
working days of the month following the month of delivery.
6. Convention 52627/12Dec2022 MACEE Organization and administration services of the Centralized Electricity 10.13 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
7. Convention No. 65/7473/ 3 Feb 2023 Sell - purchase of electricity - DAM + IM 853.24 1 Jan 2023 undetermined N/A N/A DAM Participants issue the invoices, with the date of the last day of the
Trading and administration tariff 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.
Total executed amount during 1 July - 31 August 2023: RON 309,779.96 th.
Due and not due mutual receivables of EFSA from OPCOM at 30 Aug 2023: RON
-20.06 th.
Due and not due mutual debts of EFSA to OPCOM at 30 Aug 2023: RON -83,789.55
th.
Note 1: The letter of bank payment guarantee/financial guarantee in the form
of a cash deposit remitted to the account of OPCOM S.A. will be executed on
the working banking day following the day on which the refusal to execute the
IDD was received.
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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