Scope of financial clearing by OeKB
The "balancing group representatives" (BGRs) consume power from the grid and supply power to it. The difference between a market participant’s net electricity consumption or delivery and the volume for which it has contracted is known as an "imbalance". OeKB performs the monthly determination and entry of the payables and receivables of the balancing group representatives and network operators, based on the price and volume data made available by APCS for the BGRs’ imbalances.
On behalf of APCS, 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 BGR is responsible for providing timely cover of its settlement account. The market participant must issue APCS a direct debit authorisation for the settlement account.
Types of financial clearing for APCS
Financial clearing occurs in 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