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 the month "M" as the invoicing period, the period of settlement of economic items related to the MLF is:

1. the following month "M+1" for energy subject to delivery on the MLP-Flex and for energy attribuited by GME;
2. the same month "M" for the quantity of capacity actually made available.

GME determines, for each Market Participant, the net position - calculated as the difference between receivables and payables - on the basis of the amounts, including VAT where chargeable, related to the invoices issued and received by GME referred to the same invoicing period.
The settlement of the amount owed by the Market Participant or by GME is regulated through the urgent Sepa Credit Transfer or equivalent with value date on the same date, according to the terms and conditions defined in the MLF DTF No. 11. An example of the standard timing of the settlement cycle is provided below.

Debtor Market Participants failing to pay the amount due within 12.30 of the 15th working day of the month in which the communication of the net position to be settles has occurred, may transfer, no later than 4 p.m. of the third working day following the payment deadline, the due amount increased by default interest and penalty.

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 - to the following GME’s bank details:
BPER Banca S.p.A.
IBAN IT32 N053 8703 2310 0004 9347 904
SWIFT CODE BPMOIT22XXX

If GME, by its own fault, makes payments beyond the established deadlines, it will pay interests to the creditor Market Participants by applying 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.

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

1. the access fee, within thirty calendar days from the date of issue of the invoice;
2. the yearly fixed fee, within the last working day of the month in which the invoice has been issued.

Payment of all fees must be made, by an urgent Sepa Credit Transfer or equivalent, to the current account held by GME at:
BPER Banca S.p.A.
IT32 N053 8703 2310 0004 9347 904
SWIFT CODE BPMOIT22XXX