Invoicing

The transactions made on the energy markets and with physical delivery are subject to purchase price invoicing. ECC operates the invoicing process and ECC Luxembourg s.a.r.l., the subsidiary of ECC issues and sends the purchase price invoices directly to the trading counterparties. ECC Luxembourg s.a.r.l. performs central purchase price invoicing (“self invoicing”), thus issues the invoices for both (in ECC Luxembourg s.a.r.l. view) sellers and buyers, on behalf of the sellers. In addition to the purchase price invoices, ECC issues and sends fee invoices directly to the trading counterparties on behalf of the cooperating trading venues and on its own behalf, the place of related financial settlement is the account of KELER CCP. KELER CCP collects these paid fees from the traders.

Related to energy market clearing, KELER CCP issues fee invoices to the energy market Non-clearing Members. Payment is based on the invoice issued by the 5. (fifth) business day following the subject month, the invoiced amounts are collected by debiting the Clearing Member accounts kept by KELER or Vojvođanska banka.