Accounting, Losing of Reserved Capacity for the monthly Auctions
The payment and accounting of the Auction Price will be handled by APG. To secure the payment of
the Auction Price, the PTR holder:
(a) has to communicate to APG an Austrian business account within five (5) working days after getting the positive registration confirmation by mail from the Auction Office Austria,
(b) enables APG to effectuate automatic collection with a direct debit authorization in APG´s favor (the form for the direct debit authorization is shown in ANNEX 4) and
(c) has to provide sufficient funds.
Yearly Auctions will be invoiced in twelve monthly amounts based on the actual number of MWh in the individual month. Each amount is to be paid two months in advance. The amount of January and February will be invoiced at the same time – directly after the publication of yearly auction results (relevant deadlines Y3, see Article 7.1) – and the other months will be invoiced month by month (e.g. amount for March in January). Invoices for yearly auctions are collected automatically from the Austrian business account not later than on the 10th day of the month for the second month following, free of charge and without deduction and/or offsetting (i.e. not later than on the 10th of January for March).
Monthly Auctions will be invoiced directly after the publication of monthly auction results (relevant deadlines M3, see Article 8.1) and will be collected automatically from the Austrian business account.
Daily Auctions will be invoiced on a monthly basis and will be collected automatically five days after invoicing from the Austrian Business account.
If funds are not sufficient to cover debts or if the payment is not settled on the 20th day of the same month:
- APG will withdraw from the obligations resulting from these Auction Rules and the PTR holder will lose Assigned PTRs awarded through Yearly and Monthly auction and shall be liable pursuant to the General Provisions set out in Article 3 of the these Auction Rules. Such released Capacity will be auctioned in the daily auction – or if applicable in the following monthly auction;
- the Auction Participant shall be excluded from all following auctions until the date when he remits sufficient funds to the business account for APG and all payments of the Auction Participant are settled.
If the Auction Participant is not able to communicate an Austrian Business Account to APG, APG will accept in advance payment (instead of a direct-debt authorization) for the total amount for all kind of auctions (e.g. yearly and/or monthly auction) within five working days after the publication of the auction results (relevant deadline Y3, see Article 7.1 and/or relevant deadlines M3; see Article 8.1) to the following account:
Bank Austria – UniCredit Group
Am Hof 2a
1010 Vienna
IBAN: AT06 1200 0506 1660 3600
BIC: BKAUATWWXXX
Pursuant to the General Provisions set out in Article 3 of these Auction Rules the Auction Participant is not entitled to offset any debts that arise in the connection with monthly and/or daily auction to any claim on APG, whether or not arising out of the auction.
If the expiration date of payment is public holiday, payment has to be settled on the preceding Working Day. Should the expiration date on Sundays or public holidays following a Sunday, payment has to be settled on the following Working Day. In case of delayed payment APG is entitled to charge interest rates on a due amount for each commenced day of the delay starting from the expiry date. The interest rate, determined on the Day on which the invoice is sent, is equal to the rate of interest applied by the European Central Bank at its most recent refinancing operation, plus 5 points. This interest is calculated from the first Day following the expiry date, until the date on which the invoice is paid in full. This interest will be increased to include taxes and levies in force.
APG is entitled to make adjustments of the payment due to increases or introduction of taxes, duties, etc.
VAT and other taxes or levies – if any – shall be invoiced in accordance with the applicable laws.
Resale and Curtailment credits
In case of Curtailments or Resales PTR Holders will receive credit notes from APG. If PTR holder is a participant on the yearly auction the amount of the Resale or Curtailment is subtracted from the next monthly invoice for the yearly auction. In case of APG has no direct debit authorization of PTR Holder the amount of the credit note will be transferred to the bank account which has to be announced from PTR Holder to APG.
(a) has to communicate to APG an Austrian business account within five (5) working days after getting the positive registration confirmation by mail from the Auction Office Austria,
(b) enables APG to effectuate automatic collection with a direct debit authorization in APG´s favor (the form for the direct debit authorization is shown in ANNEX 4) and
(c) has to provide sufficient funds.
Yearly Auctions will be invoiced in twelve monthly amounts based on the actual number of MWh in the individual month. Each amount is to be paid two months in advance. The amount of January and February will be invoiced at the same time – directly after the publication of yearly auction results (relevant deadlines Y3, see Article 7.1) – and the other months will be invoiced month by month (e.g. amount for March in January). Invoices for yearly auctions are collected automatically from the Austrian business account not later than on the 10th day of the month for the second month following, free of charge and without deduction and/or offsetting (i.e. not later than on the 10th of January for March).
Monthly Auctions will be invoiced directly after the publication of monthly auction results (relevant deadlines M3, see Article 8.1) and will be collected automatically from the Austrian business account.
Daily Auctions will be invoiced on a monthly basis and will be collected automatically five days after invoicing from the Austrian Business account.
If funds are not sufficient to cover debts or if the payment is not settled on the 20th day of the same month:
- APG will withdraw from the obligations resulting from these Auction Rules and the PTR holder will lose Assigned PTRs awarded through Yearly and Monthly auction and shall be liable pursuant to the General Provisions set out in Article 3 of the these Auction Rules. Such released Capacity will be auctioned in the daily auction – or if applicable in the following monthly auction;
- the Auction Participant shall be excluded from all following auctions until the date when he remits sufficient funds to the business account for APG and all payments of the Auction Participant are settled.
If the Auction Participant is not able to communicate an Austrian Business Account to APG, APG will accept in advance payment (instead of a direct-debt authorization) for the total amount for all kind of auctions (e.g. yearly and/or monthly auction) within five working days after the publication of the auction results (relevant deadline Y3, see Article 7.1 and/or relevant deadlines M3; see Article 8.1) to the following account:
Bank Austria – UniCredit Group
Am Hof 2a
1010 Vienna
IBAN: AT06 1200 0506 1660 3600
BIC: BKAUATWWXXX
Pursuant to the General Provisions set out in Article 3 of these Auction Rules the Auction Participant is not entitled to offset any debts that arise in the connection with monthly and/or daily auction to any claim on APG, whether or not arising out of the auction.
If the expiration date of payment is public holiday, payment has to be settled on the preceding Working Day. Should the expiration date on Sundays or public holidays following a Sunday, payment has to be settled on the following Working Day. In case of delayed payment APG is entitled to charge interest rates on a due amount for each commenced day of the delay starting from the expiry date. The interest rate, determined on the Day on which the invoice is sent, is equal to the rate of interest applied by the European Central Bank at its most recent refinancing operation, plus 5 points. This interest is calculated from the first Day following the expiry date, until the date on which the invoice is paid in full. This interest will be increased to include taxes and levies in force.
APG is entitled to make adjustments of the payment due to increases or introduction of taxes, duties, etc.
VAT and other taxes or levies – if any – shall be invoiced in accordance with the applicable laws.
Resale and Curtailment credits
In case of Curtailments or Resales PTR Holders will receive credit notes from APG. If PTR holder is a participant on the yearly auction the amount of the Resale or Curtailment is subtracted from the next monthly invoice for the yearly auction. In case of APG has no direct debit authorization of PTR Holder the amount of the credit note will be transferred to the bank account which has to be announced from PTR Holder to APG.