Frequently Asked Questions

Invoicing and Payment

  • What do you mean by actual liabilities?

    Our answer

    This is the Sum of values of bids fully or partially selected (based on the Auction Price) already submitted.

  • Where can I see my credit limit?

    Our answer

    Your Credit Limit can be found in the eCAT platform. Once you click on the “Bid” tab, select New/Edit Bids from the drop-down menu.

    bids

    Your Credit Limit is equal to the Bank Guarantees plus (+) your Deposits, minus (-) your Actual Liabilities.

    Click on any of the auctions listed on the Auction menu, and you will be able to see your credit limit there as well.

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  • What does SSI mean?

    Our answer

    SSI stands for Standard Settlement Instructions.

  • Where can I find Power Exchange prices?

    Our answer

    Please visit the website of the relevant Power Exchange.

  • How is this calculated?

    Our answer

    AUCTION MANAGEMENT – Auction marginal price

    If the total capacity for which valid bids have been submitted is equal to or lower than available capacity for the auction in question, the marginal price is zero.

    If the total capacity for which valid bids have been submitted exceeds the available capacity for the auction in question, the marginal price is equal to the lowest bid price selected in full or part.

     

    For example for the monthly auction: Offered capacity = 100 MW

    We have 3 traders and each of them places 2 bids

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    table 2

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    For the monthly and yearly auctions, placed bids will be checked against the financial guarantees at the time of settlement (at auction evaluation). At the same time for all the traders who have sufficient financial guarantees and whose bids have been selected, financial guarantees will be updated according to selected bids.

    Blocked amount for the monthly auctions will be:

    Allocated capacity x Marginal auction price x 24hours x Number of days* (*30 or 31 depending of the month or 28/29 for the market period of February).

    Maintenance periods and/or reduction in capacity shall be taken into consideration.

    Amount

    In case if the Trader 1 made a deposit of 100 000 € to his dedicated business account, available financial guarantees before and after the auvctions evaluation will be:

    table 3

    For the yearly auctions, the process of calculating the marginal auction price is exactly the same as for the monthly auctions. The only difference is that the blocked amount is calculated differently.

    For the capacity allocated at yearly auctions, the total amount is divided into twelve monthly instalments with each monthly instalment being one twelfth (1/12th) of the total amount. At the time of the settlement, financial guarantees of the participants whose bids have been selected will be checked and updated as follows:

    Remaining due amount = Allocated capacity x Marginal auction price x 24hours x Number of days* Blocked amount = Remaining due amount * (2/12th).

  • What does it mean if in the Self-billing Invoice for one of the monthly auction I am compensated just for two days, and the rest of the days are missing?

    Our answer

    There are two possibilities for this:

     

    1. You, the Market Participant, have nominated all your LT capacity for the missing days;
    2. The daily Marginal price of daily auction was zero, or spread over Price Exchange is negative or equal to zero.

     

    Please note that if the compensation is equal to zero, those days will not appear in the invoice.

  • How am I compensated for the Monthly and Yearly Auctions If I do not want to use the capacity, how does it appear in the invoice?

    Our answer

    If you did not nominate the Yearly or/and Monthly capacity the Use It Or Sell It (UIOSI) rule applies.

    That means that non-nominated capacity is implicitly resold on the daily auctions.

    Market Participant is compensated with Daily Marginal Auction Price or Spread over Power Exchange prices, depending on the borders:

     

    Example: FR-DE-M-BASE-------091101-01, no nomination for 3rd of November.

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  • When will my account be debited?

    Our answer

    You can expect your Business Account to be debited on the 15th Working Day of the Month.

  • When and how will I receive the invoices from JAO?

    Our answer

    JAO S.A shall issue invoices for payments for all Long Term Transmission Rights on a monthly basis and on the tenth (10th) Working Day of each month.

    JAO S.A shall send the invoice only by e-mail to the Registered Participant at the e-mail address of the financial contact person submitted in accordance with the Participation Agreement.

    The date of issuance of the invoice shall be the date on which the email is sent.