Financial Settlement

Invoicing negative price on power day-ahead market as of 1st February 2012

OTE, the Czech day-ahead market operator, in cooperation with OKTE, the Slovak day-ahead market operator, and with respective Regulatory Authorities in both countries, are being in preparation for introduction of negative prices on the Day-ahead electricity market, including the related second auction procedures in case of exceeding the defined price limits. The aim of this change is to bring market rules used on the coupled Czech-Slovak Markets closer to the Market Rules used in the CWE region. According to agreement with OKTE, the submission of bids for negative prices and the second auction will be firstly allowed on 31st January, 2012 for the delivery day of 1st February, 2012. For more information regarding the upcoming changes, please, download the following presentation.pdf (600 KB).

Example invoices - negative price on DM - CZK.pdf
Example invoices - negative price on DM - EUR.pdf

In case of further questions regarding invoices, please contact Mrs. Jindrova (jjindrova@ote-cr.cz, tel. 296 579 210).

OTE financial settlement schedules

OTE financial settlement electricity.pdf (165 KB)

OTE price list - electricity

OTE price list electricity.pdf (45 KB)

NETTING of payments as of 1st March 2011

As of 1st March 2011 changes in financial settlement of the electricity and gas market will take place. The changes involve netting (credit and debit set-off) of daily payments for a particular commodity, day of delivery and currency. The netting will be also applied on the clearing  of imbalance of Load profiles invoiced after 1st March 2011. You can find the description of the changes in the documents to be downloaded below:

• OTE payment netting - electricity.pdf (443 KB)

The first netted amounts will be processed on the 02/03/2011 when we will settle the day of delivery 01/03/2011,
the payments for days of delivery before 01/03/2011 will be processed without netting applied.
Below you can see the identification (code of trade) that will be used in our reporting and the reference numbers of the netted amounts:

Identification of netted items in financial settlement

These identifications and reference numbers will be used even if there is only one trade/payment (credit or debit) per day of delivery and currency.
More payments in same direction (for example only purchases=debits) , day of delivery and currency will be summed up and the total amount will be cleared using the above identifications.

After netting is applied, participants can use only 1 bank account in CZK and 1 bank account in EUR for financial settlement with OTE. If you currently use more than
1 account in CZK with OTE, please contact our Registrations (registrace@ote-cr.cz, registrace-plyn@ote-cr.cz) and designate the account in CZK to be used in future.
OTE will primarily use its CZK imbalance settlement accounts when clearing netted transactions in CZK.

XML message format to set up the downloading of Daily payment report is available on our web site:

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

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