Market Access

SETTLEMENT OF PAYMENTS

PAYMENT OF COMPLETED TRANSACTIONS

Regarding the settlement of payments on the MLF, having received the data from the DSO and considering month "M" as the invoicing period, the settlement period of the economic items related to the MLF is:

• the following month "M+1" for the amount of energy subject to delivery;
• the same month "M" for the capacity of power actually made available.

GME shall determine, for each Market Participant, the net position, on the basis of the amounts, including VAT where applicable, related to the invoices issued and received by GME referred to the same invoicing period.

The settlement of the MLF requires the Market Participant to settle its net debit items within 12.30 of the fifteenth working day of the month in which the communication of the net to be paid occurred, through an urgent Sepa Credit Transfer or equivalent with value date on the same date.

Following the receipt of the related invoice GME proceeds, via urgent Sepa Credit Transfer or equivalent with value date on the same date, to make payments to all of its net creditors on the sixteenth working day of the month in which the communication of the net settlement took place.

The financial settlement cycle of payments is carried out, by way of example, according to the following standard timing:

Debtor Market Participants, who do not pay the amount due within 12.30 of the fifteenth working day of the month in which the communication of the net to be paid occurred, may transfer, no later than 4 p.m. of the third working day following the payment deadline provided in such Timetable, the due amount increased with default interest and a penalty, through an urgent SEPA Credit Transfer or equivalent.

All payments settled by Market Participants through urgent Sepa Credit Transfer or equivalent must be made using the bank details previously communicated to GME by sending the appropriate form - signed by the person with the necessary powers of representation and submitted to GME - and addressed to the following GME’s bank details:
Banca Popolare di Sondrio
IBAN IT58 E056 9603 2110 0000 7210 X36
SWIFT CODE POSOIT22

If GME, by its own fault, makes payments beyond the established deadlines, it will pay interests to the creditor Market Participants and will apply the pro tempore legal interest rate in force.

PAYMENT OF FEES

The payment of the variable fees due for all concluded transactions is required by the Market Participants to GME within the 16th working day of the month in which GME has made available the related invoice(s) to Market Participants and with value date on the same day.

Moreover, each Market Participant shall pay the amounts due to GME for:

• the access fee, within thirty calendar days from the date of issue of the invoice and with value date on the same day;
• the annual fixed fee, within the last working day of the month in which the invoice has been issued and with value date on the same day.

Payment of all fees must be made, by an urgent Sepa Credit Transfer or equivalent, to the current account held by GME at:
Banca Popolare di Sondrio
IBAN IT58 E056 9603 2110 0000 7210 X36
SWIFT CODE POSOIT22