Scope of financial clearing by OeKB
Using the price and volume data made available, OeKB performs the monthly determination and entry of the receivables and payables of each balancing group representative and network operator, based on the balancing gas which they have supplied or consumed.
OeKB also bills for the clearing fee, clears and settles the payments, monitors payment receipts and provides collection of overdue liabilities.
Direct credits and debits are posted on a t+3 basis, with t representing the clearing date. Every market participant receives a separate invoice or credit note for its balancing energy consumed or supplied and a separate invoice for fees.
The market participant is responsible for providing timely cover of its settlement account. The market participant must issue AGCS a direct debit authorisation for the settlement account.
Types of financial clearing for AGCS
The financial clearing has three stages. The monthly initial clearing for the preceding month; any ad-hoc subsequent clearing if required; and the final clearing using the actual measured data.
Further information regarding types of financial clearing