Nomination of a clearing and settlement agent - notification

German version

General information

The control area manager must nominate a clearing and settlement agent and notify the Provincial Government of their decision (Art. 42a Vienna Electricity Act 2005).

Requirements

The following requirements must be met to operate as clearing and settlement agent:

  • The clearing and settlement agent must be organised as a public company.
  • The clearing and settlement agent must be able to fulfil their obligations in a secure and cost-effective manner.
  • Individuals with a qualifying holding in the clearing and settlement agent must meet the requirements in the interest of a sound and prudent management of the company.
  • There may be no grounds for excluding any of the members on the board of directors as per Art. 13 Industrial Code 1994.
  • The board of directors must have training that makes them professionally suited to the task, as well as the necessary qualities and experience to manage a company.
  • The centre of vital interests of at least one member of the board must be Austria.
  • No member of the board may have another main occupation outside the clearing and settlement agent that might cause a conflict of interests.
  • The headquarters and the administrative centre must be located in Austria and the clearing and settlement agents must have the equipment necessary to fulfil their tasks.
  • The settlement system must meet the requirements for an up-to-date clearing system.
  • The clearing agency must be able to guarantee neutrality, independence and data confidentiality with regard to all market participants.

Companies are excluded from operating as clearing and settlement agents if they are under the decisive influence of a company or group of companies that carries out at least one of the following activities: commercial energy production, energy transmission, energy distribution, or energy supply.

Deadlines

None

Contact

Office of the Vienna Provincial Government
Legal Affairs: Construction, Energy, Railways, Traffic and Aviation (MA 64)
Energy Group
1080 Vienna, Lerchenfelder Straße 4
Phone: +43 1 4000-89959
Fax: +43 1 4000-99-89910
E-mail: post@ma64.wien.gv.at

Public hours: Tuesdays 7.30 am to 12.30 pm and Thursdays 7.30 am to 3.30 pm

Documents required

  • Documentation showing the appointment of the clearing and settlement agent(s)
  • Extract from the company register (German)
  • Documentation showing the professional suitability – description of previous occupation
  • Name of the member of the board of directors whose centre of vital interests is in Austria
  • Confirmation that no member of the board has another main occupation outside the clearing and settlement agent that might cause a conflict of interests
  • Confirmation that the clearing and settlement agent is able to fulfil their obligations in a secure and cost-effective manner
  • If a power of authority has been issued: power of authority

Fees

None

Form

Online notification: Nomination of a clearing and settlement agent (German)

Further information

The Provincial Government must issue an official notice if the requirements detailed in Art. 42a of the 2005 Vienna Electricity Act are not met. Before issuing an administrative order, the Provincial Government must reach a mutual agreement with any other Provincial Governments in whose sphere of competence the control area lies.

Legal basis: 2005 Vienna Electricity Act (German)

Homepage: Legal Affairs: Construction, Energy, Railways, Traffic and Aviation (MA 64) (German)

Contact for this page:
Municipal Department 64
Contact form