REG - Soc EnergElectricaSA - Transactions related parties - EFSA and SNN
To: Romanian Financial Supervisory Authority (ASF)
Bucharest Stock Exchange (BVB)
London Stock Exchange (LSE)
Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, ASF Regulation no. 5/2018, and the Bucharest Stock Exchange Code
Report date: 6 August 2021
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1st 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 (BVB) and London Stock Exchange (LSE)
Significant events to be reported: Transactions with related parties according to Art. 923 para (12) of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Societatea Nationala Nuclearelectrica S.A. (SNN)
Electrica informs its shareholders and investors about the conclusion, on 5 August 2021, of several transactions between EFSA, Electrica's subsidiary, and SNN, that has a value that, cumulated with the rest of the transactions concluded/executed in the period 1 January - 5 August 2021, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2020, respectively exceeds the value of RON 202,466,778.
Details regarding the transactions concluded on 5 August 2021, together with the rest of the transactions already concluded in the period 1 January - 5 August 2021, 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 Annex 1.
Chief Executive Officer
Georgeta Corina Popescu
Annex 1: Details regarding the transactions concluded by EFSA with SNN in the period 1 January - 5 August 2021 of the kind listed in Art. 923 of Law No. 24/2017
Agreement Type and No., execution date
Scope of the agreement
Amount of transactions
Date of entry into force
Expiry date
Guarantees (RON th.)
Penalties (RON th.)
Payment due dates and payment methods
Buyer: EFSA
Seller: SNN
Transaction ID 39755 / 16 Jun 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.07.2021 - 31.12.2021
8,944.43
16 June 2021
31 December 2021
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 39749 / 16 Jun 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
15,483.30
16 June 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 39753 / 16 Jun 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
15,483.30
16 June 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 39718 / 14 Jun 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
30,441.00
14 June 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 39899 / 30 Jun 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
16,425.00
30 June 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 39953 / 13 Jul 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
17,651.40
13 July 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transaction ID 40193 / 4 Aug 2021, annex to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC
Sell and purchase of electricity in the period 01.01.2022 - 31.12.2022
17,782.80
4 August 2021
31 December 2022
40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)
Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the unaccepted hourly amount of energy at the price determined according to the contract.
Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Framework Contract 979/ 5 Aug 2021, concluded on PCCB-LE-FLEX
Sell and purchase of electricity
18,113.49
5 August 2021
31 December 2022
3,076.81
In case of non-payment of the invoice at maturity, the Buyer will be obliged to pay late payment penalties whose interest level corresponds as a percentage of interest due for non-payment of obligations to the state budget, for each day of delay, starting with the first day after maturity , until the due date of the amount due, inclusive.
The total compensatory amounts in case of termination can be calculated only at the time of termination, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.
Compensation of RON 1,538.41 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of SNN.
Additional compensations of RON 5,955.12 th, in case of termination.
The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
Payment shall be made: (a) on the 7th working day following the date of dispatch of the invoice; or (b) on the 8th working day of the month immediately following the month of delivery.
Framework Contract 980/ 5 Aug 2021, concluded on PCCB-LE-FLEX
Sell and purchase of electricity
18,094.66
5 August 2021
31 December 2022
3,073.61
In case of non-payment of the invoice at maturity, the Buyer will be obliged to pay late payment penalties whose interest level corresponds as a percentage of interest due for non-payment of obligations to the state budget, for each day of delay, starting with the first day after maturity , until the due date of the amount due, inclusive.
The total compensatory amounts in case of termination can be calculated only at the time of termination, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.
Compensation of RON 1,536.80 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of SNN.
Additional compensations of RON 5,948.93 th, in case of termination.
The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
Payment shall be made: (a) on the 7th working day following the date of dispatch of the invoice; or (b) on the 8th working day of the month immediately following the month of delivery.
Framework Contract 981/ 5 Aug 2021, concluded on PCCB-LE-FLEX
Sell and purchase of electricity
36,233.11
5 August 2021
31 December 2022
6,154.67
In case of non-payment of the invoice at maturity, the Buyer will be obliged to pay late payment penalties whose interest level corresponds as a percentage of interest due for non-payment of obligations to the state budget, for each day of delay, starting with the first day after maturity , until the due date of the amount due, inclusive.
The total compensatory amounts in case of termination can be calculated only at the time of termination, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.
Compensations of RON 3,077.33 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of SNN.
Additional compensations of RON 11,912.26 th, in case of termination.
The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
Payment shall be made: (a) on the 7th working day following the date of dispatch of the invoice; or (b) on the 8th working day of the month immediately following the month of delivery.
Framework Contract 982/ 5 Aug 2021, concluded on PCCB-LE-FLEX
Sell and purchase of electricity
36,233.11
5 August 2021
31 December 2022
6,154.67
In case of non-payment of the invoice at maturity, the Buyer will be obliged to pay late payment penalties whose interest level corresponds as a percentage of interest due for non-payment of obligations to the state budget, for each day of delay, starting with the first day after maturity , until the due date of the amount due, inclusive.
The total compensatory amounts in case of termination can be calculated only at the time of termination, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.
Compensations of RON 3,077.33 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of SNN.
Additional compensations of RON 11,912.26 th, in case of termination.
The invoice is issued starting with the first working day of the month immediately following the delivery month, but not later than 5 calendar days after the end of the month.
Payment shall be made: (a) on the 7th working day following the date of dispatch of the invoice; or (b) on the 8th working day of the month immediately following the month of delivery.
Beneficiary: SNN
Provider: EFSA
Contract 294 / 23 Aug 2004
Contract R507 / 01 Aug 2011
AA 9 / 22.07.2021
Re-invoicing - pensioners energy quota
Equivalent value of electricity granted to individuals benefiting from the provisions of GD.1041/2003 and GD.1461/2003
68.96
23 August 2004
During the period GD 1041/2003 is in force, as it was completed and modified by GD 1461/2003
N/A
If the payer does not pay the value of the invoice within 30 days from the due date, he owes the provider penalties equal to the level of interest charged for late payment of debts to the state budget, for each day of delay, starting with the first day after maturity and until full payment, including the day of payment.
The Provider issues the invoice to the Beneficiary until the 16th of the month following each month in which the electricity was invoiced to the pensioners, called the reference month.
The payment of the invoice value will be made by legal means, within the maturity of 30 calendar days from the date of issue.
Total executed amount during 1 January - 5 August 2021: RON 230,954.56 th
Due and not due mutual receivables of EFSA to SNN at 04.08.2021: RON 0 th.
Due and not due mutual debts of EFSA to SNN at 04.08.2021: 40,062.56 th
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