Settlement of the Balancing Market Fee is carried out on a monthly basis. Settlement months correspond to calendar months from the first day of the calendar month at 00:00 CET until the first day of the following calendar month at 00:00 CET.

The initial Settlement of month M shall be carried out according to the following timeline:

a) Within one week following the final Settlement of all weeks of month M, the HETS of Operator shall inform the registered Participants in the HETS registry as well as the participants under Deletion with regards to the Balancing Market Fee.

b) Within the deadline of two (2) working days following the publication of the results with regards to the Balancing Market Fee from the HETS Operator the Participants and the Participants subject to Deletion shall submit to the HETS Operator any reasoned objections.

c) Until the Thursday following the second item, the HETS shall inform the Participants, the Participants subject to Deletion and the Clearing House of the results of the Settlement of the Balancing Market Fee after having taken into account the objections of the Participants or the Participants subject to Deletion and has made the necessary corrections.

d) The above results of the Settlement for each Participant and Participant subject to Deletion shall include the following:

1. Amount corresponding to the Balancing Market Fee transactions relating to month M+2, which is equal to the settlement amount resulting for month M.

2. The difference of the following:

   • The amount settled for the Balancing Market Fee relating to month M, as calculated on the Thursday of month M+2 in point (c) of this paragraph; and

   • The amount corresponding to the transactions of the Balancing Market Fee for month M, which was included in the Settlement Results issued in month M for the transactions of month M-2 in accordance to the timeline in items (a) to (c) of this paragraph.

In cases where the Thursday referred to in point (c) of this paragraph is not the fourth business day of the week, the Participants and Participants subject to Deletion and the Clearing House shall be informed on the fourth business day, pursuant to the Clearing Rulebook for Balancing Market Positions.

The final Settlement of month M is realized in accordance with the following timeline:

a) Within one week of the end of the Final Settlement of all weeks of month M, the HETS Operator shall notify the Participants registered in the HETS Operator’s Registry and the Participants subject to Deletion regarding the Balancing Market Fee,

b) Within a deadline of two (2) working days following the publication of the results regarding the Balancing Market Fee by the HETS Operator, the Participants and the Participants Subject to Deletion shall submit any duly justified objections to the HETS Operator.

c) Until the Thursday following item (b), the HETS Operator shall inform the Participants, the Participants subject to Deletion as well as the Clearing House of the Settlement results for the Balancing Market Fee, taking into account the objections raised by the Participants or Participants subject to Deletion and having made the necessary corrections.

The time schedules referred to in this Article may be amended by way of exception in the event of a technical problem in the Balancing Market System or in the event of the unavailability of the necessary data as described in Article 18.4. The HETS Operator shall inform the Participants of the updated timeline in a timely and appropriate manner.