On March 15, 2016, the Energy Ministry ("SENER") published in the Federal Official Gazette an Accord that issues the Account Statement, Billing and Payment Rulebook (the "Accord").
The Rulebook develops the content of the 17th Provision of the Guideline for the Electric Market, on the negotiation processes for the issuance of daily account statements, billing, payments and charges performed by the National Center of Energy Control ("CENACE") and the Market Participants (the "Participants") for the financial liquidation process of the market operations and of the services rendered outside of the market.
The purpose of the Rulebook is to develop the processes that are carried out for issuing Daily Account Statements, the billing and payment and charges processes derived from the sale and purchase of power and associated products that constitute the Wholesale Electric Market (the "Market").
Broadly the processes are:
- Market Liquidations: calculation process of the covered and billed amounts by the CENACE to the Participants for the different types of included charges in the Advance Day Market, the Real Time Market, the Balance of Capacity Market, Clean Energy Certificates Market, as well as regulated services by the Energy Regulatory Commission and other charges, costs, income and loans established in the Provisions.
- Daily Account Statements: to be issued daily in order for Participants to know the information of the power liquidations and associated products, as well as the issued invoices by CENACE and know the billed quantities for the sale of power and associated products.
The Daily Account Statements will be issued on the following 7 calendar days after the Operation Day.
- Billing: issuance process for tax purposes and payment for a specific day, in accordance with a Daily Account Statement.
The invoices to be charged by CENACE to the Participants will be issued on the same day as the Daily Account Statement is issued.
- Financial process of payments and charges: process to be followed by CENACE, as well as the Participants for the charge and payment of invoices, Credit Notes and Debit Notes that arise of the purchase and sell of power, associated products and other liquidations that derive from the Market.
It is important to mention, that any clarification performed by the Participants as well as the reviews by CENACE that result in required changes to the liquidations of the Market will modify the amount and original content is known as Re-liquidation, that must calculate all of the liquidations with the reviewed information and that has to be modified regarding the existing information.
The Re-liquidations will generate Credit Notes, or Debit Notes depending if the difference between the Participants and the CENACE regarding a charge, quantity and published prices in the Daily Account Statements, invoices, Credit Notes, Debit Notes, as well as the differences for amounts paid or charged, these will be solved in accordance with the proceedings described in the Dispute Resolution Rulebook.