16th Sep 2020 16:16
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: 16 September 2020
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 Societatea de Distributie a Energiei Electrice Transilvania Sud SA (SDTS) and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)
Electrica informs its shareholders and investors about the conclusion, on 14 September 2020, of several transactions between SDTS and EFSA, Electrica's subsidiaries, based on services agreements without fix price that have a value that, cumulated with the rest of the transactions concluded/executed in the last 12 months, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, respectively exceeds the value of RON 199,406,795.
Details regarding the transactions concluded on 14 September 2020 by SDTS, as services provider, with EFSA, as beneficiary, 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.
Details regarding the transactions concluded in the last 12 months between the parties, which lead to exceeding, at a cumulative level, the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, are presented in Annex 2.
Chief Executive Officer
Georgeta Corina Popescu
Annex 1: Details regarding the transactions concluded by SDTS with EFSA on 14 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Services provider: SDTS
Beneficiary: EFSA
Parties of the transaction | Agreement Type and No., execution date | Scope of transactions | Amount of transaction (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties | Payment due dates and payment methods |
SDTS and EFSA TS
| C-3831/D/700/ 15 Mar 2016 and AA8/18 Jun 2020 Contract without fix price | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | 29,179.42 | 15 March 2016 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
C-3831/D/700/ 15 Mar 2016 and AA2/01 Aug 2016 Contract without fix price | Providing other services as distribution operator | 2.15 | 1 August 2016 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). | Payment is made within 30 days from the date of receipt of the invoice | |
SDTS and EFSA TN | C-12310/D/700/29 Jul 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | 43.73 | 29 July 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
C-12445/D/700/30 Jul 2015 | 30 July 2015 | N/A | ||||||
C-16355/D/700/30 sept 2015 | 30 September 2015 | N/A | ||||||
C-22054/D/700/21 Dec 2015 | 21 December 2015 | N/A | ||||||
C-22271/D/700/22 Dec 2015 | 22 December 2015 | N/A | ||||||
C-22578/D/700/29 Dec 2015 Contracts without fix price | 29 December 2015 | N/A | ||||||
SDTS and EFSA MN | C-14893/D/700/09 sept 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | 432.44 | 9 September 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
C-16091/D/700/28 Sept 2015 | 28 September 2015 | N/A | ||||||
C-22046/D/700/21 Dec 2015 | 21 December 2015 | N/A | ||||||
C-22050/D/700/21 Dec 2015 | 21 December 2015 | N/A | ||||||
C-22255/D/700/22 Dec 2015 | 22 December 2015 | N/A | ||||||
C-22562/D/700/29 Dec 2015 Contracts without fix price | 29 December 2015 | N/A | ||||||
SDTS and EFSA TS | C-319/14.09.2007 and AA51 - C27472/S/700/30 Dec 2019 Contract with fix price | IT services | 108.51 | 14 September 2007 | 31 December 2020 | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 10 working days from the date of receipt of the invoice. |
Transactions total amount (RON th.): | 29,766.25 |
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Due and not due mutual debts of EFSA to SDTS at 11.09.2020: RON 70,628.98 th.
Due and not due mutual debts of SDTS to EFSA at 11.09.2020: RON 676.6 th.
Annex 2: Details regarding the transactions concluded in the last 12 months by SDTS and EFSA of the kind listed in Art. 923 of Law No. 24/2017
Parties of the transaction | Agreement Type and No., execution date | Scope of the agreement | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties (RON th.) | Payment due dates and payment methods |
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Service provider: SDTS Beneficiary: EFSA |
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SDTS and EFSA TS
| C-3831/D/700/ 15 Mar 2016 and AA8/18 Jun 2020 Contract without fix price | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 01.09.2019 -11.09.2020: 351,119.52
| 15 March 2016 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
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C-3831/D/700/ 15 Mar 2016 and AA2/1 Aug 2016 Contract without fix price | Providing other services as distribution operator | Amount between 01.09.2019 - 11.09.2020: 1,320.28 | 1 August 2016 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). | Payment is made within 30 days from the date of receipt of the invoice |
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SDTS and EFSA TN | C-12310/D/700/29 Jul 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 01.09.2019 - 11.09.2020:441.95
| 29 July 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
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C-12445/D/700/30 Jul 2015 | 30 July 2015 | N/A |
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C-16355/D/700/30 sept 2015 | 30 September 2015 | N/A |
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C-22054/D/700/21 Dec 2015 | 21 December 2015 | N/A |
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C-22271/D/700/22 Dec 2015 | 22 December 2015 | N/A |
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C-22578/D/700/29 Dec 2015 Contracts without fix price | 29 December 2015
| N/A |
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SDTS and EFSA MN | C-14893/D/700/09 sept 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 01.09.2019 - 11.09.2020: 4,118.08 | 9 September 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
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C-16091/D/700/28 Sept 2015 | 28 September 2015 | N/A |
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C-22046/D/700/21 Dec 2015 | 21 December 2015 | N/A |
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C-22050/D/700/21 Dec 2015 | 21 December 2015 | N/A |
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C-22255/D/700/22 Dec 2015 | 22 December 2015 | N/A |
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C-22562/D/700/29 Dec 2015 Contracts without fix price | 29 December 2015
| N/A |
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SDTS and EFSA TS | C-320/14.09.2007 and AA53 - C27470/S/700/ 30 Dec 2019 Contract without fix price | Telecommunications services | Amount between 01.09.2019 - 11.09.2020: 204.91 | 14 September 2007 | 31 December 2020 | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 10 working days from the date of receipt of the invoice. |
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SDTS and EFSA TS | C-319/14.09.2007 and AA51 - C27472/S/700/30 Dec 2019 Contract without fix price | IT services | Amount between 01.09.2019 - 11.09.2020: 1,215.19
| 14 September 2007 | 31 December 2020 | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 10 working days from the date of receipt of the invoice. |
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SDTS and EFSA | C - 1782/S/7000/31 Jan 2018,C - 6153/N/7000 / 23 Mar 2018,AA1 -C18197/S/7000/31 Aug 2018,AA2 -C895/S/7000/17 Jan 2019,AA3 -C14639/S/7000/23 Jul 2019,AA4 -C25100/S/7000/29 Nov 2019,AA5 -C2027/S/7000/31 Jan 2020 Contracts without fix price | Providing the representation service as Balancing Responsible Party | Amount between 01.09.2019 - 11.09.2020: 3,001.88
| 1 February 2018 | 31 January 2021 | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). | Payment is made within 3 working days from the date of sending the invoice |
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Service provider/Seller: EFSA Beneficiary/Buyer: SDTS |
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Parties of the transaction | Agreement Type and No., execution date | Scope of the agreement | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties (RON th.) | Payment due dates and payment methods |
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EFSA and SDTS | 23/15 Feb 2018 Contracts without fix price | Providing representation service as Balancing Responsible Party | Amount between 1.09.2019 and 11.09.2020: 3,316.71 | 1 February 2018 | 31 January 2021 | 0 | 0 | Payment is made within 3 working days from the date of receipt of the invoice | |||||||
EFSA and SDTS | 73/31 Oct 2018AA 1 / 1 Jan 2020 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 1,646.67 Amount to be executed: 296.69 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02% delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 30 days of grace period | |||||||
EFSA and SDTS | 7026736/1 Jan 2019AA 1/6 Jan 2020 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 654.68 Amount to be executed: 155.02 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02 delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 30 days of grace period | |||||||
EFSA and SDTS | 7028667/19 Oct 2018AA 1/30 Dec 2019 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 1,415.13 Amount to be executed: 565.00 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02% delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 20 days of grace period | |||||||
EFSA and SDTS | 20117756/19 Oct 2018AA 1/1 Jan 2020 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 2,075.87 Amount to be executed: 496.99 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02% delay penalties (starting with the date immediately following the due date, until payment, including payment date). | Payment is made within 10 days from the date of issuing the invoice. There are 20 days of grace period | |||||||
EFSA and SDTS | 20052651/ 5 Nov 2018AA 1/23 Dec 2019 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 1,672.50 Amount to be executed: 396.81 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.03% delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 30 days of grace period | |||||||
EFSA and SDTS | 20214739-1/23 Oct 2018 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 42.64 Amount to be executed: 13.77 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02% delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 30 days of grace period | |||||||
EFSA and SDTS | 20137708-3/23 Oct 2018 | Electricity supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 2,925.30 Amount to be executed: 1,185.92 | 1 January 2019 | 31 December 2020 | 0 | Compensation 5% of the contract price for the quantity not consumed, damages 10% of the contract price for the quantity not consumed. 0.02% delay penalties (starting with the date immediately following the due date, until payment, including payment date) | Payment is made within 10 days from the date of issuing the invoice. There are 30 days of grace period | |||||||
EFSA and SDTS | 3189/S/7000/15 Feb 2019 | Natural gas supply on competitive market | Amount between 1.09.2019 and 11.09.2020: 572.08 Amount to be executed: 225.68 | 16 February 2019 | 15 February 2021 | 0 | 0.02% delay penalties for each day of delay unpaid debts at maturity (starting with the date immediately following the due date, until payment, including the date of payment) | Payment is made within 15 days from the date of issuing the invoice. There are 45 days of grace period | |||||||
EFSA and SDTS | 73/31 Oct 2018 7026736/1 Jan 2019 7028667/19 Oct 2018 20117756/19 Oct 2018 20052651/ 5 Nov 2018 20214739-1/23 Oct 2018 20137708-3/ 23 Oct 2018 | Electricity supply on competitive market - reactive energy, green certificates, cogeneration, excise duty, without fix price | Amount between 1.09.2019 and 11.09.2020: 71.50 | 1 January 2019 | 31 December 2020 | 0 | According to the provisions of each energy contract | ||||||||
EFSA and SDTS | R876/29 Dec 2015 | Buildings rental services | Amount between 1.09.2019 and 11.09.2020: 114.72 Amount to be executed:343.98 | 1 January 2016 | 31 December 2023 | 0 | 0.02% of the unpaid amount (starting with the date immediately following the due date, until the payment, including the payment date) | Payment is made within 10 working days from the date of registration of the invoice to the lesse | |||||||
Total amount executed between 1.09.2019 and 11.09.2020 (RON th.): | 375,929.61 |
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Total remaining amount to be executed (RON th.): | 3,679.85 |
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Due and not due mutual debts of EFSA to SDTS at 11.09.2020: RON 70,628.98 th.
Due and not due mutual debts of SDTS to EFSA at 11.09.2020: RON 676.6 th.
Related Shares:
Electrica Regs