In April 2014 the first surplus distribution and settlement procedure as specified in paragraph 6 of Article 25 of our Balancing Group Contract Terms & Conditions has been completed. The distribution and settlement procedure was performed in respect of the summer levy period of 2013 (April to September 2013). A second distribution has been made in July 2014 in respect of the winter levy period (October 2013–April 2014).
The legal basis of a distribution and settlement is Article 25 of our Balancing Group Contract Terms & Conditions, which corresponds to paragraph 6 of Article 15 of the standard balancing group contract for gas (Annex 1 of the ruling concerning gas balancing services issued by the ruling chamber 7 of the German federal regulator Bundesnetzagentur, Ref.: BK7-08-002); for further information please also see the document Key Aspects of the Distribution and Settlement Mechanisms pursuant to Paragraph 6 of Article 25 of the Balancing Group Contract prepared by Freshfields Bruckhaus Deringer LLP.
Under said provision the market area manager is obliged to distribute and settle any surplus realised within any given levy period following a two-step procedure, provided that the surplus exceeds the projected deficit of the following levy period.