The financial settlement of a daily evaluation, monthly evaluation, final monthly evaluation and a settlement of differences based on load profiles is made in accordance with OTE's Business Terms for the Power sector chapter 3 ( Evaluation and settlement) and in accordance with Public Notice No. 408/2015 Coll., on the Power Market Rules as amended.

The list of banks accepted by OTE, a.s. for EUR settlement of Day-ahead and Intra-day power markets:

• Komerční banka, a.s.
• Československá obchodní banka, a. s.
• UniCredit Bank Czech Republic and Slovakia, a.s.
• Česká spořitelna, a.s.

OTE financial settlement schedules

OTE financial settlement electricity.pdf (34 KB)

NETTING of payments

Apart from the common way of the liabilities/receivables settlement (payment order and direct debiting) the netting is used in cases specified below.

The netting is defined as a set-off of liabilities and receivables made within particular evaluations and then a net balance of netting is settled.

• Settlement of a daily evaluation - netting of daily payments for a particular commodity, day of delivery and currency
• Monthly settlement of differences between meter readings and consumption values based on load profiles - netting of liabilities and receivables (trade code TDD)
• Final monthly settlement of differences between meter readings and consumption values based on load profiles - netting of liabilities and receivables (trade code TDD)

Identification of netted items in financial settlement (trade code used in the payment order and reference number)

These identifications and reference numbers will be used even if there is only one trade/payment (credit or debit) per a day of delivery and currency.

More payments with the same impact on a credit/debit balance (for example only purchases = debits), for the same day of delivery and the same currency will be summed up and the total amount will be cleared using the above identifications.

A reference number of an invoice/correction tax document is used as a reference of payment if the result of TDD type of trade is only one liability or only one receivable. In that case, the new reference is not used.

There are the special reports in CS OTE (section Risk Manag./ Financial reports) that show the netted items, the final amount to be settled and reference number:

Daily report for the bank (credit-debit confirmation) – for daily settlement

Clearing of LP (TDD) Differences - monthly netting

Clearing of LP (TDD) Differences - final netting

XML message format to set up the downloading of reports mentioned above is available on our web site:

http://www.ote-cr.cz/documentation/electricity-documentation/electricity-documentation

Further questions send to ozavisky@ote-cr.cz.

Invoicing negative price on the power market

There may be a situation when the market price reaches zero or a negative level on the power market. Based on the zero price free delivery is provided and based on the negative price the supplier pays for power delivery. The zero levels of price can be reached on the short-term market and within imbalance evaluation as well.

According to the statement of General Financial Directorate from 11th of October 2011 from the point of view of value-added tax two different supplies are provided in the situation of a negative price, power consumption for zero price and power disposal service providing in the amount of received payment. The power supplier is obliged to issue the proof of sale/tax document according to the Act. No. 261/2007 Coll. part of the forty-seventh and tax document according to the VAT Act in case the tax of electricity is calculated. The buyer is obliged to issue the tax document according to the VAT Act for the provision of the power disposal service.

http://www.financnisprava.cz/cs/dane/dane/dan-z-pridane-hodnoty/dotazy-a-odpovedi/2011/dodavky-elektriny-uskutecnovane-operator-1086 (only in Czech)

For further billing questions, please contact Mrs Jiřina Jindrová (jjindrova@ote-cr.cz, +420 234 686 407).