2nd Sep 2022 16:37
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, and the Bucharest Stock Exchange Code
Report date: 2 September 2022
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 (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, on 31 August 2022, of one transaction between EFSA, Electrica's subsidiary, and OPCOM, that have a value that, cumulated with the rest of the transactions concluded/executed in the period 1 August - 31 August 2022, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2021, respectively exceeds the value of RON 206,175,420.
Details regarding the transaction concluded on 31 August 2022, together with the rest of the transactions already concluded in the period 1 August - 31 August 2022, 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.
CEO
Alexandru-Aurelian Chirita
Annex 1: Details regarding the transactions concluded by EFSA with OPCOM in the period 1 August- 31 August 2022 of the kind listed in Art. 108 of Law No. 24/2017
Agreement Type and No., execution date | Scope of the agreement | Amount 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 | |||||||
Convention No. 38156/ 18 Aug 2021 | Sell - purchase of electricity - DAM | 349,353.72 | 18 August 2021 | undetermined | 30,000 | 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 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. |
Convention No. 38156/ 18 Aug 2021 | Trading tariffs - DAM | 19.21 | 18 August 2021 | undetermined | N/A | - | The invoice is issued and 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.The payment of the invoice is made by the participant in the respective market, entirely by bank transfer, with payment order, in maximum 5 (five) working days from the date of receipt of the invoice |
Convention PCCB-NC 38105/ 17 Aug 2021 Convention PCCB-LE FLEX 38104/17Aug2021 Convention PC OTC 38107/ 17 Aug 2021 Convention PCV 38108/17 Aug 2021 Convention PC ESRE CV 38106/ 17 Aug 2021 |
Trading tariff PCCB-NC Trading tariff PCCB-LE FLEX Trading tariff and additional licenses PC PC-OTC Trading tariff PCV Trading tariff PC ESRE CV
| 37.51 | 17 August 2021 | undetermined | N/A | - | The invoice related to T value of bilateral transactions (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 transactions were made. Payment by bank transfer, with payment order, in maximum 5 working days from the date of receipt of the invoice. |
Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 | Sell - purchase of electricity - IM | 6,535.92 | 17 August 2021 | undetermined | 3,500 | - | OPCOM S.A. issues the invoices with the date of the last day of the delivery month and sends them, electronically signed, by email, to the Participants in the IM in the first three working banking days of the month following the month of delivery. The IM participant has the obligation to ensure the necessary funds in the current account opened at the Settlement Bank, in order to debit the amounts related to the value of the net payment obligations. |
Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 | Trading and administrative tariffs - IM | 1.28 | 17 August 2021 | undetermined | N/A | - | The invoice is issued and 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. The payment is made by bank transfer, with payment order, in maximum 5 (five) working days from the date of receipt of the invoice. |
Convention NGM - short term 42678/2019 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 1/2 of the annual value of each tariff (to which VAT is addes as the case may be). Payment is made in maximum 5 working days from the date of receipt of the invoice. |
Buyer: OPCOM Seller: EFSA | |||||||
Convention No. 38156/ 18 Aug 2021 | Sell - purchase of electricity - DAM | 12,392.13 | 18 August 2021 | undetermined | N/A | - | DAM participants issue 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 10th of the month following the month of delivery. |
Convention for Participation on the Intraday Market no. 38103/ 17 Aug 2021 | Sell - purchase of electricity - IM | 6,819.11 | 17 August 2021 | undetermined | N/A | - | 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 10th of the month following the month of delivery. |
Total executed amount during 1 August - 31 August 2022: RON 375,159.41 th.
Due and not due mutual receivables of EFSA to OPCOM at 30.08.2022: RON 320,123.09 th.
Due and not due mutual debts of EFSA to OPCOM at 30.08.2022: RON 1,553.83 th.
*the amounts in the table also include invoices sent late in days from a previously reported period, as follows: invoices from 31.07.2022: 13,356.31 thousand RON (convention 38103/17.08.2021), 19.21 thousand RON (Convention 38156/18.08.2021) and invoices from 29.07.2022: 0.53 thousand RON (short-term and long-term PGN Conventions 42678/2019 and 42679/2019)
Note 1: Major non-fulfillment of the payment obligation entitles OPCOM to suspend the PZU 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 PZU Participant, the situation in which the PZU 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
Related Shares:
Electrica Regs