Related Parties Transactions - DEER-OPCOM

Societatea Energetica Electrica SA

05 January 2024

 

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 January 2024

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 (BVB) 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 Distributie Energie Electrica Romania SA (DEER), subsidiary of Societatea Energetica Electrica SA (Electrica) and OPCOM

Electrica informs its shareholders and investors about the conclusion/execution, in the period 1 September 2023 - 4 January 2024 of some transactions between DEER, 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 September 2023, respectively exceeds the value of RON 198,760,627.

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.

Note: Some invoices issued in the previously reported period were received, for reasons independent of DEER, after the previous reporting date, 1 September 2023, therefore the transactions related to these invoices were included in this report.

CFO

Stefan Frangulea

Annex: Details regarding the transactions concluded by DEER and OPCOM between 1 September 2023 - 4 January 2024 of the kind listed in Art. 108 of Law No. 24/2017

Agreement Type and No., execution date	Scope of transactions	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
Provider: OPCOM Beneficiary: DEER
DEER no.124/T/10/ 6 Jan 2021 OPCOM no. 07/ 4 Jan 2021 / DEER no.6165/08Dec2023  OPCOM no.47987/13Nov2023	Purchase of electricity - DAM	27,686.98	4 Jan 2021/ 13 Nov 2023	undetermined	33,000	N/A	Daily payment by direct debiting of the DEER account.
	Trading tariffs - DAM	78.67				N/A	Payment by bank transfer, with payment order, within a maximum of 5 working days from the date of receipt of the invoice. The invoice is considered paid on the date of registration of the payment in the bank statement of OPCOM.
DEER nr.89/09Jan2023 OCOM nr. 325/04Jan2023	Representation on the REMIT energy market (ACER report - details of wholesale energy contracts)	2.80	6 Jul 2021	undetermined	N/A	N/A	The payment of the invoice is made, by the participant in the respective market, in full, by bank transfer, with a payment order, within a maximum of 5 (five) working days from the date of receipt of the invoice.
DEER no.4821/04Oct2023  OPCOM no.39559/21Sep2023	Administration tariff on PCB	27.60	21 Sep 2023	undetermined	N/A	N/A	Payment of the invoice shall be made, by the market participant concerned, in full, by bank transfer, with a payment order, within a maximum of 5 (five) working days from the date of receipt of the invoice.
Convention DEER no.6587/19 Dec 2022 OCOM no. 52761/13 Dec 2022 Agreement DEER no.6826/29 Dec 2022 OCOM n0. 55430/23 Dec 2022          AD1 55430/23 Dec 2022 Agreement DEER no. 9/03Jan2024                                                                                                                                                                                                                                                          OPCOM no. 54164/27Dec2023	Purchase of electricity on MACEE	232,687.85	23 Dec 2022	31 Dec 2024	203,000	N/A	Daily payment by direct debiting of the DEER SA account for the month of January 2023
	Trading tariff on MACEE	166.25	23 Dec 2022	31 Dec 2024		N/A	Payment by bank transfer, with payment order, within a maximum of 5 working days from the date of receipt of the invoice. The invoice is considered paid on the date of registration of the payment in the bank statement of OPCOM
Provider: DEER Beneficiary: OPCOM
DEER no.124/T/10/ 6 Jan 2021 OPCOM no. 07/ 4 Jan 2021 / DEER no.6165/08Dec2023  OPCOM no.47987/13Nov2023	Sale of electricity - DAM)	17,582.07	4 Jan 2021/ 13 Nov 2023	undetermined	33,000	N/A	Daily collection by direct debiting of the DEER SA account

Total executed amount during 1 September 2023 - 4 January 2024: RON 278,232.21 th

Due and not due mutual receivables of DEER from OPCOM on 3 January 2024: RON 1,877,42 th.

Due and not due mutual debts of DEER to OPCOM on 3 January 2024: RON 104,944.87 th.

Note: According to the document "SUMMARY of the procedure regarding the invoicing and payment of the regulated tariff practiced by the electricity market operator for the services provided to the participants in the centralized electricity and green certificate markets", available on the OPCOM website here, whose provisions are also taken over in EFSA's internal procedures /DEER, invoices are issued by OPCOM, as well as by the OPCOM market participant, respectively the ELSA branch, and sent electronically in the first three working days of the month following the month in which the sale/purchase transactions were carried out, and the date of the invoice must be the last day of the month in which the transactions were made and must reach the partner within the first 10 calendar days of the following month. Thus, although the transactions and invoices are dated the last day of the previous month, ELSA reporting is carried out within a maximum of 24 hours from the date of actual receipt/transmission by electronic means of the invoices from/to OPCOM.

 

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