The transactions made and cleared on the IP and TP markets are transactions with physical delivery, thus they are subject to purchase price invoicing. As part of the central purchase price invoicing (“self invoicing”), KELER CCP issues both the invoices of (in KELER CCP’s view) the buyers and sellers as well, based on the mandate stated in the applicable agreement on invoicing. The purchase price invoice issued includes VAT corresponding to the VAT residence. In relation to central purchase price invoicing, KELER CCP has joint responsibility for the issued invoices.
After the closing of the gas month, based on the daily clearing reports prepared by KELER CCP, the monthly purchase price invoice is issued and sent to the Clearing Member. Invoices are issued based on the „fungible” principle, for the applicable period.
In addition to the purchase price invoices KELER CCP issues fee invoices to the Clearing Members related to the transactions made on IP and TP platforms. Payment is based on the invoice issued by the 5th (fifth) business day following the subject month, the invoiced amounts are collected by debiting the Clearing Member accounts kept with the Settlement Bank.
Purchase price invoicing - How are invoices made?
