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Regulatorni odbor Energetske zajednice

Pregled glavnih kriterijuma za određivanje dozvoljenog
prihoda
za prenos, distribuciju i regulisano snabdijevanje elektrčnom energijom i
gasom

decembar 2014.g.

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Sadržaj
REZIME .. 5
UVOD 6
Energetska zajednica 6
Osnove 6.
Djelokrug rada …… 7
Metodologija 7
ZAKLJUČCI– ELEKTRIČNA ENERGIJA 8
Prenos i distribucija elektrčne energije 8
1. Tip regulacije................................................................................................................... 8
2. Dozvoljeni prihod i računovodstvene smjernice .............................................................9
3. Operativni i troškovi održavanja....................................................................................10
4. Povrat na sredstva......................................................................................................... 13
5. Stopa povrata................................................................................................................ 18
6. Amortizacija.................................................................................................................. 21
7. Gubici............................................................................................................................ 23
8. Otpisani prihod............................................................................................................. 32
9. Količine......................................................................................................................... 34
10. Ispravke..................................................................................................................... 36
11. Pomoćne usluige....................................................................................................... 36
Regulacija snabdijevanja električnom energijom 39
12. Univerzalne usluge.................................................................................................... 47
ZAKLJUČCI GAS 52
Prenos i distribucijagasa 52
1. Tip regulacije................................................................................................................. 52
2. Dozvoljeni prihod i računovodstvene smjernice............................................................53
3. Operativni i troškovi održavanja....................................................................................54
4. Povrat na sredstva........................................................................................................ 57
5. Stopa povrata................................................................................................................ 61
6. Amortizacija.................................................................................................................. 63
7. Gubici............................................................................................................................ 65
8. Otpisani prihod.............................................................................................................. 71
9. Količine......................................................................................................................... 73
10. Ispravke..................................................................................................................... 74
Regulacija snabdijevanjam gasom 75
REZIME REZULTATA 80
1. REGULACIJA MREŽE.................................................................................................. 80
2. REGULACIJA CIJENE ENERGIJE...............................................................................82
3. UNIVERZALNE USLUGE – ZADANI SNABJEVAČ – OBAVEZA PRUŽANJA JAVNIH
USLUGA.............................................................................................................................. 83
4. OSTALE NAKNADE...................................................................................................... 83
PRILOZI 84

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Lista tabela

Tabela 1 Uloga regulatora u ocjenjivanju imovine za prenos i distribuciju električna energija ......14
Tabela 2 Tretman ROI u toku regulatornog perioda –prenos i distribucija električne energije.......18
Tabela 3 PPTK i njegove komponente za prenos i distribuciju električne energije (all u %)..........19
Tabela 4 Amortizacija imovine za prenos i distribuciju električne energije....................................22
Tabela 5 Priznavanje gubitaka u dozvoljenom prihodu za prenos i distribuciju električne energije24
Tabela 6 izvori količina korišćenih za obračun tarife za prenos i distribuciju električne energije...34
Tabela 7 Troškovi pomoćnih usluga priznatih u dozvoljenom prihodu za prenos električne energije
...................................................................................................................................................... 37
Tabela 8 Struktura dozvoljenog prihoda za snabdijevanje električnom energijom.......................39
Tabela 9 Tretman promjene cijena roba u finalnoj regulaciji cijene električne energije.................41
Tabela 10 Finansiranje regulatorne agencije i finalne tarife i cijene..............................................45
Tabela 11 Uključivanje podrške električne energije iz obnovljivih izvora u tarifiama za električnu
energiju......................................................................................................................................... 46
Tabela 12 Primjena zadanog snabdjevača i snabdjevača posljednjeg izbora kao univerzalne usluge u
snabdijevanju električnom energijom
Tabela 13 Slučajevi u kojima se primjenjuju zadani snabdjevač ili snabdjevač posljednjeg izbora 49
Tabela 14 Uloga regulatora u ocjenjivanju imovine za prenos i distribuciju gasa..........................58
Tabela 15 Tretman ROI u toku regulatornog perioda- prenos i distribucija gasa...........................61
Tabela 16 PPTK i njegove komponente za prenos i distribuciju gasa (all u %).............................62
Tabela 17 Amortizacija imovine za prenos i distribuciju gasa.......................................................64
Tabela 18 priznavanje gubitaka u dozvoljenom prihodu za prenos i distribuciju gasa..................67
Tabela 19 izvori količina korišćenih za obračun tarife za prenos i distribuciju gasa......................73
Tabela 20 Struktura dozvoljenog prihoda za snabdijevanje gasom.............................................75
Tabela 21 Tretman naknade u cijeni roba kod finalne regulacije cijene gasa................................77
Tabela 22 Finansiranje regulatorne agencije i finalne tarife i cijene gasa.....................................79

Lista grafika

Grafik 1Tip primijenjene regulacije kod prenosa i distribucije električne energije 8
Grafik 2 Priznavanje O&O troškova u dozvoljenom prihodu za prenos i distribuciju e. energije 11
Grafik 3 Priznavanje amortizacije kapitalnih doprinosa kod prenosa i distribucije e.energije 15
Grafik 4 Tretman nematerijalne imovine u ROI za prenos i distribuciju električne energie 17
Grafik 5 Tretman radnog kapitala u ROI za prenos i distribuciju električne energije 17
Grafik 6 dozvoljeni nivoi gubitaka na prenosnim mrežama (u %)…………………………………….31
Grafik 7 Dozvoljeni ponderisani prosjek troška kapitala na distributivnim mrežama (u %) 31
Grafik 8 Oduzimanje neregulisanih prihoda iz regulisanog dozvoljenog prihoda kod prenosa i
distribucije električne energije 32
Grafik 9 Tretman nenaplaćenih dugova za snabdijevanje električnom energijom 44
Grafik 10 vremenski raspored za ukidanje regulisane cijene za domaćinstva i mala preduzeća 51
Grafik 11Tip primijenjene regulacije kod prenosa i distribucije gasa 53
Grafik 12 Priznavanje O&O troškova u dozvoljenom prihodu za prenos i distribuciju gasa 55
Grafik 13 Tretman amortizacije kapitalnih doprinosa kod prenosa i distribucije gasa 59
Grafik 14 Tretman nematerijalne imovine u ROI za prenos i distribuciju gasa 60
Grafik 15 Tretman radnog kapitala u ROI za prenos i distribuciju gasa 60
Grafik 16 Dozvoljeni nivoi gubitaka na mrežama za prenos gasa (u %) 70
Grafik 17 Dozvoljeni nivoi gubitaka na mrežama za distribuciju gasa (u %) 71

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Kosovo*. Analiza istražuje da li regulatorne agencije u Energetskoj zajednici prate iste principe i kriterijume kod regulisanja tarifa i cijena ali ne ocjenjuje adekvatnost primijenjenih mehanizama. Crnu Goru. Moldaviju. bivšu Jugoslovensku Republiku Makedoniju. Bosnui Hercegovinu. Procjena pokazuje da regulacija energetskog sektora mrežne industrije prati slične principe i kriterijume za određivanje mrežnih tarifa i. gdje je to moguće. 4 . Gruziju. Turskui Ukrajinu. cijena za kranje korisnike na svim analiziranim tržištima. odvojeno su prikazani u ovom izvještaju. kao i kriterijuma za njihov obračun. Rezultati za Bosnu i Hercegovinu koji se razlikuju za Federaciju Bosnei Hercegovine (FBIH).Grafik 18 Oduzimanje regulisanih prihoda od regulisanih dozvoljenih prihoda kod prenosa i distrbucije gasa 72 REZIME Ovim dokumentom se vrši procjena elemenata regulisanih mrežnih tarifa i cijena energije za krajnjeg korisnika koji su trenutno u primjeni. Srbiju. Hrvatsku. Izvještaj obuhvata Albaniju. Republiku Srpsku (RS) i kanton Brčko u BIH.

Tretman izvjesnih elemenata za njihov obračun. rok za primjenu Trećeg paketa je 1 januar 2015. Moldavija. 4 Recital 18 Direktive za elektrčnu energiju irecital 16 Direktive za gas 5 čl. Regulatorni odbor Energetske zajednice (ECRB) posluje na osnovu člana 58 Ugovora o energetskoj zajednici. U tom kontekstu i tretman cijena roba t. obračun cijena javnih snabdjevača je takođe od velikog značaja. Treći energetski paket. Kao institucija Energetske zajednice ECRB savjetuje Ministarski savjet i stalnu grupu visokog nivoa Energetske zajednice o detaljima vezanim za zakonska. nove investicije. Regulativa za električnu energiju (EC) 1228/2003. tehniča i regulatorna pravila i treba da daje preporuke u slučaju prekograničnih sporova između regulatora. naime Direktivu za električnu energiju 2009/72/EC.org. pored toga. 3 Na osnovu odluke Ministarskog savjeta Energetske zajedniceD/2009/02/MC-EnC. Crna Gora.energy-community. Direktiva za gas 2003/55/EC i Regulativa za gas (EC) 1775/2005. bivša Jugoslovenska Republika Makedonija. naime direktiva za električnu energiju 2003/54/EC.UVOD Energetska zajednica Energetsku zajednicu1čine Albanija.25(2) Direktive za gas 5 . acquis Energetske zajednice uključuje Treći energetski paket.Armenija. odražavaju troškove 4 i odobre potrebne investicije u mreže 5. zahtijeva regulisane tarife ili 1 www. kao i nivo povrata garantovanog mrežnim opratorima i/ili snabdjevačima direktno utiču na nivo promjena.j. kao što su mrežni i komercijalni gubici. Trenutno se primjenjuje drugi energetski paket. Kosovo*2.23(2) Direktive za električnu energiju ičl. Gruzija. Bosna i Hercegovina. Acquis communautaire o električnoj energiji i gasu 3 Energetske zajednice zahtijeva od regulatornih agencija da osiguraju da tarife za prenos i distribuciju budu transparentne. Regulativu za električnu energiju (EC) 714/2009. Srbijai Ukrajina.g. Osnove Cijene energije i mrežne tarife su važne za potrošače kako u pogledu njihovog nivoa tako i u pogledu uključene usluge. TurskaiNorveškasu države posmatrači. Direktivu za gas 2009/72/EC i Regulativu za gas (EC) 715/2009. Osim ako nije drugačije navedeno. 2 U ovom dokumentu simbol * upućuje na sljedeću izjavu: ova oznaka ne dovodi u pitanje stavove o statusu. ovaj dokument upućuje na drugi energetski paket. i u skladu je sa UNSCR 1244 imišljenjem ICJ o deklaraciji o nezavisnosti Kosova. nenaplativi dugovi.

Djelokrug rada Ovim dokumentom se vrši procjena elemenata regulisanih mrežnih tarifa i cijena energije za krajnjeg korisnika koji su trenutno u primjeni. Bosnui Hercegovinu. kako bi se povećala efikasnost. Gruziju. Izuzimajući raspoložive informacije o mrežnim gubicima i stopama povrata. Upitnik korišćen za prikupljanje podataka je dat u prilogu ovog izvještaja. Srbiju. Hrvatsku. Crnu Goru. Turskui Ukrajinu. Analiza istražuje da li regulatorne agencije u Energetskoj zajednici prate iste principe i kriterijume kod regulisanja tarifa i cijena ali ne ocjenjuje adekvatnost primijenjenih mehanizama. Analiza postojećih tarifa i cijena koje odražavaju trošak bi zahtievala detaljno istraživanje specifičnih nacionalnih okolnosti. Metodologija Podaci i analize date u ovom izvještaju se zasnivaju isključivo na informacijama koje su dale regulatorne agencije analiziranih tržišta. podstakla integracija tržišta i sigurnost u snabdijevanju i podržale odnosne istraživačke aktivnosti 6. Izvještaj obuhvata Albaniju. Informacije koje su date za Gruziju i Tursku nijesu kompletne i/ili nijesu razjašnjene u svim poglavljima. Kosovo*. Republiku Srpsku (RS) i kanton Brčko u BIH. kao i kriterijuma za njihov obračun. zakonodavstvo i regulaciju. procjena ne daje prikaz grafika o odobrenom prihodu i njegovim elementima niti nivoima mrežnih tarifa i cijena energije. 37(8) Direktive 2009/72/EC Evropskog Parlamentaisavjeta od 13 jula 2009 o opštim pravilima za interno tržište električne energije kojom se opoziva Direktiva 2003/54/EC i čl. bivšu Jugoslovensku Republiku Makedoniju. Rezultati za Bosnu i Hercegovinu koji se razlikuju za Federaciju Bosnei Hercegovine (FBIH).metodologije za njihov obračun kako bi se osiguralo da se operatorima prenosne i distributivne mreže omoguće adekvatni podsticaji. odvojeno su prikazani u ovom izvještaju. 6 čl.razvoj tržišta.41(8) Direktive 2009/73/EC Evropskog Parlamentai savjeta od 13 jula 2009 o opštim pravilima za interno tržište gasa kojom se opoziva Direktiva 2003/55/EC 6 . Moldaviju. kako kratkoročni tako i dugoročni.

CPI-X regulacija može takođe da se primijeni na ukupno tražene prihode u okviru regulacije maksimalnog prihoda (nezavisni regulatorni sud za utvrđivanje cijene (Dennis Mahoney. međutim. 8 To. jul 2011). Cato Jorgensen. Tip regulacije Slično cijeni proizvoda u svim ostalim regulisanim mrežnim idustrijama. na primjer povećanja efikasnosti u poslovanju sistema.  Regulacija maksimalnog prihoda ili cijene. godišnje tarife koje su rezultat regulacije gornje granice samo se razlikuju u zavisnosti od nivoa inflacije korigovane unaprijed određenom procentualnom stopom rasta efikasnosti7. Tipično. 7 . tarife za prenos i distribuciju električne energije mogu da se odrede korišćenjem različitih tipova mehanizama za kontrolu cijene:  Regulacija „trošak plus (ili stopa povrata). Grafik1Tip implementirane regulacije kod prenoda i distribucije električne energije 7 CPI-X regulacija uključuje utvrđivanje puta cijene (regulacija maksimalne cijene) za energetsko preduzeće. omogućavajući promjene inflacije (CPI faktor) i očekivana poboljšanja efikasnosti (“X” faktor. dok u slučaju podsticajne regulacije prihodi ili cijene se ograničavaju za različite periode.ZAKLJUČCI– ELEKTRIČNA ENERGIJA Analiza prati strukturu dijela upitnika koji se odnosi na električnu energiju i rezimira odgovore dobijene za svako pitanje. već da je osnova za obračun jedna godina. pored očekivanih poboljšanja efikasnosti. “X” faktor može. podsticaji za uštede troškova kod CPI-X režima. kao što su uporedna regulacija ili regulacija zasnovana na učinku. Ova poboljšanja efikasnosti su odvojena od ekonomskih poboljšanja koja se već reflektuju u promjeni u CPI).  Ostali mehanizmi. nivou usluga ili aktivnosti na upravljanju potražnjom. međutim. Thomas Clay). da inkorporira druge aspekte kao što su nagrade za poboljšanja u kvalitetu. Na analiziranim tržištima primjenjuju se regulacija trošak plus. ne znači da se tarife obavezno mijenjaju svake godine. kdo koje se tarife utvrđuju na način da obuhvate opravdane troškove operatora sistema i uključuje stopu povrata. tj. Tarife se mijenjaju na zahtjev regulisanog preduzeća ili kada regulator zaključi da su se promijenili osnovni parametric za obračun dozvoljenog prihoda i tarifa. povrat na uloženi kapital. gdje se prihod/cijene utvrđuju unaprijed za fiksni period od nekoliko godina (“regulatorni period”) omogućavajući operatorima sistema da sačuvaju uštede koje su u stanju da steknu tokom ovog perioda zbog. regulacija gornje granice cijene i gornje granice prihoda. Dolje dat grafik daje pregled primijenjenih modela regulacije tarife po državi. Regulacija trošak plus se normlano sprovodi godišnje 8. naime 3 ili 5 godina. ovi modeli su manje u upotrebi u odnosu na pethodno spomenute mahanizme. Prenos i distribucija električne energije 1..

privatizovanih u 2001 10. costs allowed to be recovered via the network tariff. that – based on the information available . Za narednih pet godina (period 2008 do 2013) stopu povrata se određuje NERC. U Ukrajini se primjenjuje metod trošak plus sa nekim elementima podsticajne regulacije za 5 kompanija za distrubuciji električne energije. Detaljnije rečeno. 11 Podsticajna regulacija ne upućuje na CPI-X metodologiju. U Gruziji. ali ona ne može da bude niža od 11 %. . Eligible costs include justified and efficient operation and maintenance costs and the capital costs (depreciation and return on assets). It has to be noted. . dugoročne tarife9 su bile uvrđene na osnovu memoranduma o razumijevanju između države i investitora. za prvih 7 godina nakon usvajanja metodologije (2001 do 2008) za ovih 5 kompanija obraččun tarifa se zasniva na jedinstvenoj stopi povrata na sredstva od 17% nakon poreza. 8 . 9 Gruzijski regulator nije dostavio detalji o trajanju i sadržaju ovog memoranduma 10 Za druge distributivne kompanije koristi se metod trošak plus. . stopa povrata je 15%. Da bi se podstaklo smanjenje troškova.e. kako je to gore istraženo. korigovan da bi odrazio promjene u indeksu cijene proizvođača i korekciji tarife kada se obim potrošnje mijenja za više od 5% of the those used in the approved tariff11. i. though. Dozvoljeni prihod I propratne smjernice For all types of tariff regulation dozvoljeni prihod need to be determined.Specifična pravila koja se primjenjuju za distribuciju električne energije u Gruziji i Ukrajini: . Trenutno.the applied adjustment parameters seem to rather entail correction to external factors than a real cost cutting incentive. 2. Dozvoljeni prihods additionally also include the compensation of network losses as well as a correction factor addressing variations between the forecast and actual values. metodologija predviđa fiksiranje nivoa operativnih troškova (na početku primjene metodologije za period koji nije duži od 7 godina).

78 of 29. .2002. 12 In Croatia there is a Decision on the Method and Procedure for Keeping Separate Accounting of Energy Undertakings. 13 Non. costs of network connections16 etc.the regulator does not include automatically all O&M costs from statutory accounting. Gruzija. approved by the decision of theAdministrative board of the National Agencyof Energy Regulation No. In Montenegro accounting rules for tariff regulation will be applicable to all regulated energy undertakings as of 1 January 2014. if recognized as such. are normally automatically included in the dozvoljeni prihod. Crna Gora and Ukrajina and typically includes fines/penalties system operator have to pay to other authorities. Kosovo* and Turska include all operating and maintenance costs from statutory accounting in the dozvoljeni prihod for električna energija prenos and distribucija14. an explicit lista non-justified costs only exists in Moldavija. 3. doubtful debt15. Srbija and Ukrajina define certain categories of O&M costs as justified or non-justified andconsider all O&M costs controllable. 16 Costs of network connections are to be covered by separate connection charge. Crna Gora. On the other side.Hrvatska. regulators in Albanija. adopted by the regulatory authority (Official Gazette No. BJR Makedonija. sponsorships. 103/03). The assessment hereinafter analyses whether regulators apply criteria for recognition of operativnih troškova u dozvoljenom prihodu koji dediniše koji se troškov smatraju opravdanim/neopravdanim.controllable costs.12.In Moldavija there is Regulation on accounting system at the regulated electro energetic companies.Regulatorne agencije of Bosna i Hercegovina. In Kosovo* these rules are part of TSO/MO and DSO Pricing Rules. some regulatorne agencije require from regulated companies to prepare and submit separate regulated accounts that to a certain extent differ from national statutory accounting standards. However. unaprijed određujući neke troškove kao troškove koji se mogu i ne mogu kontrolisati13 i/ili unaprijed određujući ograničenja za neke troškove. Among analyzed električna energija markets regulatorne agencije define separate regulatory accounting guidelines12 only in the entities of Bosna i Hercegovina for distribucija and Albanija. Hrvatska. Moldavija. 15 A doubtful debt is an account receivable that might become a bad debt at some point in the future. Operating and maintenance costs Operating and maintenance costs (O&M costs) incurred by regulated companies allow them to provide and maintain the adequate service level.In order to facilitate the process of dozvoljeni prihod calculation. Kosovo*. Regulatorne agencije recognize operating and maintenance costs in the dozvoljeni prihod but have to differentiate between justified and non-justified costs in order to avoid excessive and unnecessary costs being included in tariffs. 9 . Such “regulatory accountingrules” (guidelines) should not create an additional burden for regulated companies but help them to understand the process of regulation and increase transparency. 14 Exception is distribution in BIH entity Republika Srpska. Moldavija and Turska for both prenos and distribucija. .

Issue paper of ERRA Tariff/Pricing Committee. The residual cost savings can then be retained in the form of higher profits. the company will also benefit as long as it manages to reduce costs in excess of the X factor.V. maintenance costs may only amount to 25% of annual depreciation costs and gross salaries per employee are only recognized to the extent not 40% higher than average gross salaries in the country. prepared by KEMA International B.In BJR Makedonija the regulatory authority defines limits for some costs categories: for example. „the regulator sets cijene not on the basis of the company’s actually incurred costs. On the other hand. in August 2006.org/Library/ERRA_Issue_Papers#2 10 .erranet. The difference between actual costs and the regulatory estimation of efficient costs is reflected in the X factor.. Grafik2Recognition of O&M costs in the dozvoljeni prihod for električna energija prenos and distribucija In case of incentive based regulation an efficiency factor is applied i. but rather on a level of cost that the regulator considers efficient. A graphical overview of the implemented approaches for recognition of operating and maintenance costs in the dozvoljeni prihod is presented in Grafik2.e. consumers directly participate in the expected cost reductions in the form of lower price. please see more on X Factor determination on http://www.”17 17 Efficiency factor’s determination (X factor). Through the X factor. The X factor applies for a given number of years (the regulatory period) and determines the annual change in cijene in such a way that cijene move in line with the anticipated efficiency improvements.

such as parametric and non-parametric tests. this factor is set at 1%. From the second regulatory period individual performance indicator will be introduced. set by the regulatory statement that is a part of the privatization agreement. For the first regulatory period (three years).  0. Increase in efficiency is currently not envisaged. The overall performance indicator was used to control operating costs.5 consumer price index (CPI) in Crna Gora For distribucija:  0% by the end of 2014 in Albanija. Crnoj Gori i Turskoj. operating costs are fixed for a certain period. the regulator compares equipment used in Kosovo and other similar električna energija systems.5 CPI sector based in Crna Gora  Individually based for 21 DSOs in Turska and  0% for five companies where incentive based regulation is applied in Ukrajina 19 (as mentioned above.e. BJR Makedonija18. which will be calculated on the basis of benchmarking analysis (DEA and parametric methods)) However. 18 Revenue cap type of regulation applied in FYR of Macedonia is based on setting the 3-years. In Kosovo*. factor that distributes differences between planned revenues of a company and those approved by the regulator over the regulatory period. During 2013 the regulator carried out activities in order to implement incentive tariff regulation for električna energija DSO. Kosovu*. In Moldavija the regulator takes into consideration efficiency improvements in the previous periods as well as the investments contributing to efficiency increase. but the individually developed procedures of relevant regulatorne agencije. the methodologies for X factor determination still do not follow academically recognized benchmarking models.Kako je ranije objašnjeno. when defining efficiency factor. but adjusted only based on inflation or related indices. Furthermore. In addition to regular operating and maintenance costs. Trenutno se primjenjuju sljedećei faktori efikasnosti: For prenos:  0% in Albanija and Turska  4% in Kosovo*  2% in Moldavija and  0. 19 Pogledati poglavlje 1 11 . but also take into account the similarities in tariff proceedings. the regulator uses productivity standards: for measuring potential efficiency improvements the number of employees per 100km of network is used as reference standard. In Crna Gora efficiency factor is set on the basis of comparison to efficiency factors applied by regulators of other countries.revenue stream allowing increase in revenues coming from inflation rate and smoothing factor i. podsticajna regulacija za prenos električne energije se primjenjuje samo u Albaniji. for example. for companies with the same or similar performances.  5% as of 2015 in Kosovo*  2% sector based in Moldavija. Moldaviji.

excluding capital contributions. these revenues have to be transferred to generators. 22 Assets not yet commissioned. dozvoljeni prihod always include return on assets. Nevertheless. realized costs of reactive power from the previous year are deducted from the DSO’s dozvoljeni prihod of the current year21.). i. such as ancillary services. However. Therefore. The regulatory asset base (RAB) aggregates net asset values of fixed assets and sometimes current assets (also called working capital). In any case all of them have a discretionary right to define and decide which assets belong to the regulated business and. As of 2014 this practice will be changed. The new methodology of incentive based regulation will introduce RAB concept. as appropriate. because e. this consequently does not include Ukrajina. BJR Makedonija and Srbija also cover cost of reserves in the DSOs’ dozvoljeni prihod. however there is no realistic calculation of planned reactive energy and the revenue earned from it is treated as deducted revenue (please see Chapter 8). In Albanija.e. an explicit tariff for reactive energy exists in all analyzed markets for system users that can register consumption of reactive energy. These costs are normally not displayed as separate category. relevant asset will be underused or not used at all. Crna Gora and Srbija recognize costs related to reactive power as part of električna energija prenos system operators’ revenues. It has to be highlighted that the process of dozvoljeni prihod determination in Ukrajina does not recognize the concept of RAB related calculation of return (the dozvoljeni prihod for the majority of companies is calculated so to include all reasonable operating costs. For električna energijadistribucija the costs of reactive power are included in the dozvoljeni prihod only in Bosna i Hercegovina. 23 Investments that will not allow recovering of capital invested. Kosovo* and Moldavija) state that TSOs did not have costs related to reactive energy but consider revenues earned from reactive energy 20 a part of generators’ income. . Return on assets is measured by multiplying the rate of return with the value of the regulatory asset base. return on investments and income tax. the majority of regulatorne agencije (Bosna i Hercegovina. For 5 companies (privatized in 2001) as the rate base for revenue calculation the company purchase price (resulting from the privatization process) is used as well as investment and depreciation. not yet in use. the information on Ukrajina in this and the following chapter will be only selective. Hrvatska. The regulatorne agencije of Albanija. 4. depreciation. Asset valuation is a very important element of RAB determination. The regulators of Bosna i Hercegovina.e.g. Regulatorne agencije therefore sometimes prefer using their own asset valuation methodology. i. 12 . which investments are justified. . 20 Reactive energy is normally one of the tariff elements for electricity transmission and/or distribution 21 Tariff for reactive power is 15% of tariff for active energy.Republika Srpska and BJR Makedonija. When providing information on RAB. Gruzija. BJR Makedonija. losses etc. Return on assets In order to recognize owner’s investment in the regulated company. The results of questionnaire related to RAB structure and asset valuation are presented below. to avoid sunk investments23. but constitute a part of other costs. sometimes also assets under construction 22.

More in detail.e. auditor to re-evaluate assets if the value presented by prenos or distribucija companies is doubtful. which is the case only in Crna Gora. Moldavija and Turska the regulator corrects asset values only to the consumer price index (CPI). Gruzija. The regulator may decide not to include into tariff all items of investment plan approved by the ministry. in Crna Gora the assets under construction are included in the RAB as a tool for incentivizing investments: for the first year of the 3 year regulatory period the costs related to construction in progress at the end of the previous year are included.Tabela1Role of regulators in evaluating električna energija prenos and distribucija assets Has the regulator right to Have assets been re- re.evaluate assets if evaluated in the process of deems necessary? tariff regulation? Albanija yes no no for prenos/ yes for Bosna i Hercegovina no distribucija Hrvatska no no BJR Makedonija yes yes no for prenos/yes for Gruzija yes distribucija Kosovo* yes yes Moldavija no yes Crna Gora yes no Srbija no no Turska yes yes yes. for the second year the sum of construction in progress costs for the previous two years and 24 In Ukrajina the regulator considers investment plans of the company after prior approval of the relevant ministry.e. Kosovo*. before commission of assets. the regulatorne agencije of the analyzed markets have legal right to re-evaluate assets of regulated companies. but the reason was not Ukrajina no related to regulatory process In Albanija. 13 . the regulator so far has not exercised this power. In Kosovo*. In Crna Gora the regulator may require an independent body i. In all investigated markets the regulatorne agencije approve investment plans ex-ante and monitor their implementation24. The realization of investment plans influences the value of the RAB only to the extent the dozvoljeni prihod includes some investments in advance i. however. Crna Gora and Turska for prenos and distribucija and Bosna i Hercegovina only for distribucija.

14 . depreciation of these assets is allowed with a view to enable replacing of the assets in the future. is realized during the first two years by less than 50% of the plan for the relevant period. 25 Examples are patents. in case of networks typically connection assets. whose implementation is planned for the period of three or more years.g. However. i. please see the grafik below. in order to avoid return on assets that are not the result of the regulated company’s investment. Another very important element of RAB calculation are capital contributions. the total investment is excluded from the basis for calculation of depreciation and return until put into operation. In some cases however. If an investment. Normally the assets financed from such contributions are excluded from the RAB. In all analyzed markets the capital contributions are excluded from the RAB by the regulators. but have no physical existence. the regulator excludes the total value of the relevant investment as well as relevant depreciation from the RAB until the asset is put in operation. Intangible assets are long-termresources of the company.e. the government or an international institution and direct payments by asset users. They derive their value from intellectual or legal rights and from the value they add to the other assets25 . For details.for the third year the sum of construction in progress costs for the previous three years. if during a year an investment is realized with a value less than 50% of the value approved for that year. copyrights. Grafik2Recognition of depreciation of capital contributions in električna energija prenos and distribucija Other elements considered for calculating the RAB are intangible assets and working capital. goodwill. grants from e. However the depreciation of capital contributions is included in the dozvoljeni prihod for električna energija prenos and distribucija in the majority of analyzed markets.

Grafik3Treatment of intangible assets in RAB for električna energija prenos and distribucija Grafik4Treatment of working capital in RAB for električna energija prenos and distribucija 26 Assets that will be turned into cash within a year. Working capital.When determining the RAB some regulatorne agencije decide not to include the value of these assets. The graphs below show the recognition of intangible assets and working capital in the RABs of the investigated markets. 27 Liabilities that will be repaid within a year. defined as difference between company’s current assets 26 and current liabilities27 is also sometimes excluded from RAB. 15 .

once the RAB has been calculated for the regulatory period. Investments commissioned during the Moldavija previous year always increase RAB in the following year. Crna Gora and Turska. RAB is not changed during the regulatory Kosovo* period. in principle. Yearly based revision includes adjustments of Crna Gora investments that are realized below 50% of the value approved for that year. Both approaches however may be justified theoretically. Rate of return Regulated service providers have interest to invest only if the recognized return allows them to cover costs of equity and debt finance needed for the realization of the envisaged projects. 5. the approach of Moldavija’s regulator has to be assessed very positively against incentivizing investments. this is the case in BJR Makedonija. Finally. 29 On details see earlier. The rate of return regulators determine has to take into consideration the credit conditions available to particular regulated companies but also 28 In Crna Gora the value of recognized working capital is limited to 1/12 of the justified operational costs for transmission and 1/8 for distribution. As shown above. In case of Crna Gora the regulator´s approach develops logic against the background that investments are recognized in the RAB before their commission29 and there has to be control over their implementation with a view not to allow regulated utilities to earn return on not realized investments. it may be adjusted on yearly basis in case of incentive based regulation.električna energija prenos and distribucija Treatment of RAB during the regulatory period RAB is not changed during the regulatory Albanija period. Tabela2Treatment of RAB during the regulatory period. Kosovo*. is to allow revenues remaining unchanged during the regulatory period and therefore allowing regulated utilities to consume the benefits of cost reductions during that time. Turska RAB is yearly adjusted by the CPI While the purpose of incentive based regulation. 1/12 of the operational costs is also applied for transmission. Moldavija. 16 . The Tabela below provides explanations on the approaches applied.From the graphs above it can be concluded that regulatorne agencije of the analyzed markets treat values of intangible assets and working capital differently when calculating the RAB 28. RAB is not changed during the regulatory BJR Makedonija period. In Albania.

. the rate of return has to enable investors to cover their finance (equity) requirements and secures at least the risk. . divided by the total principal on long term debt (the total amount borrowed) at the beginning of the year). - capital value 30 Weight is the share of capital component.4434 5.org/wp-content/uploads/2013/03/Jenkinson_Regulation_and_the. As the name suggests.4433 . .67% on T36 .google. 35 "Risk free rate" includes both risk free rate and country risk 17 . As mentioned in the previous chapter.32 - 0.free rate of interest plus a risk premium reflecting risks specific for the particular sector of energy industry. Tabela3WACC and its components for električna energija prenos and distribucija (all in %) WACC (real.tax WACC allows not only coverage of finance cost but also tax coverage.4335 1. risk free rate + country risk and beta coefficient are defined/decided in the regulatory statement that is part of the privatization package. it reflects weighted average of the cost of each individual component of the capital structure 30. Furthermore. Ukrajina does not implement the concept of RAB and return on assets. . Gearing Return Retur Risk Beta Marke pre-tax) (debt/ on n on free coefficien t (debt+equity) equity debt rate t return ) T 5.at/books? id=cGqmeynpZ48C&printsec=frontcover&source=gbs_ge_summary_r&redir_esc=y#v=onepage&q&f=false or http://regulationbodyofknowledge. For the estimation of costs of equity usually the Capital Assets Pricing Model is applied31. The figure for the rate of debt reported in the table is the average for the three years of the regulatory period. http://books.pdf 32 Equal to treasury bond rate 33 Return on debt is calculated as the sum of interest payments on long term debt during the year. Pre.65 7. Post- tax WACC assumes that the utility already paid the tax.51532 3. The regulatorne agencije of the analyzed markets reported grafika for real pre-tax WACC for električna energija prenos and distribucija. 34 The return on equity. WACC may be determined as pre-tax or post-tax grafik. including the relevant components for its calculation and they are presented in the Tabela below. .g. - Albanija D 9. The Weighted Average Cost of Capital (WACC) is a commonly used method for calculation of the rate of return in regulated energy business.47 60 8.967 60 16.to comparable industries since the utilities in the energy sector do not only compete among themselves for financing sources. 31 For more details on WACC calculation please see e. consequently there will be no related information on Ukrajina in this chapter.

49 Calculated based on international benchmarks 18 .50 1. - T 5.85 BJR Makedonija D 6.existent capital market it cannot be calculated. Bills) and published in Damodoran in the section Data Sets.91 4.85 T 5. .33 4.2645 T 7.term loans of the DSO.07 40 6.term loans of the TSO/MO.78 9.6 Kosovo* D 12 40 13.80% and 7. 42 Weighted average interest rate of existing long.50 7. 40 Determined by the Government 41 As similar utilities internationally.e.6 1.93 0.9 6.9 9.5 10.13 1. 45 The market return is determined in January of the first year of the regulatory period as the arithmetic mean of the last 10 years in the U. 37 For BIH.81 1.02% respectively.24 0.95 50 8.11 5. (under the new tariff methodology from 2013 Beta coefficient is established at 47%. .10 . 47 Set as the sum of risk-free rate and country risk.53 2.68 6 36 WACC formula exists.954 Not T 8. 44 Beta coefficient is determined yearly based on the corresponding average value of the energy sector of the USA published in DAMODARAN source.32 4.9348 0.S.35 8. i. The country risk premium is equal to the premium for the risk of non-payment of a country.8147 1.free rates of USA with maturity more than 10 years. . Historical Return on Stoks.2446 0. Risk Premium.9547 6744 5. For the past years it was 6. compartment Data Serts. (Stock-T. 43 Treasury bonds risk.01 .02 .Republika Srpska 38 Return on Goverment bonds 39 Weighted average interest rate of existing long.72 21 4.53 4. Levered an unlevered Betas by Industry.69 8. Bonds and Bills. multiplied by the volatility coefficient of the capital markets in developing countries. 46 WACC is different for every year in the regulatory period (2012-2015).67 21 6.7265 53. 48 If parameters not available in Crna Gora. This is the figure for the third regulatory period.68 1 3.6542 60.premium. according to statistics published on Bloomberg.142 6 1 0.9 6.1 439 440 141 0.705 8 Not used 743 used Moldavija D 14. - Hrvatska D 4.28 3. but due to non.6838 1 3.5 10.12 35 13. arithmetic Average. Bosna i Hercegovin D37 3. the rate shall be equal to the average annual rate of return to German Government bonds for December of the previous year with maturity of 10 years. However there is a rate of return determined for transmission. - a T 5. from 1st August 2014 to 31st July 2015.6849 6 Crna Gora D 7.

the Ministry of Economy issues every year Decision on fiscak rates and the regulator takes over the relevant depreciation rates.49 50 . - T 9. T 6. 52 Based on the Law on Fiscal Rates.64 60 9 4 0. but the most widely used is straight-line/linear depreciation where the asset is written off every year with the same amount. . In order to quickly write off an asset and therefore return the invested capital sooner.line depreciation. Depreciation Depreciation is an allocation of asset costs to the accounting period in which the asset provides benefits to the company.Only in Albanija the depreciation method applied is based on fiscal rates52. 50 All figures for 2013 51 Required percentage of energy utility for distribution. . The regulatorne agencije of the analyzed markets use straight-line depreciation and there is no differentiation between assets acquired before and during the regulatory period (except in Kosovo*). . Kosovo*.93 50 . . The details on the depreciation methods for električna energija prenos and distribucija are shown in the Tabela below.751 . . . The purpose of calculating depreciation is building up funds for the replacement of assets.59 Srbija50 D 3. 19 .The information on asset lives in straight-line depreciation explains how quickly the asset costs are actually recovered. However. in practice most of the companies use straight. some regulators use accelerated depreciation where yearly deductions are greater in the first years of asst use. It has to be noted that depreciation used for regulatory tariff setting can deviate from national tax law depreciation rules. - 6. . in line with applicable national accounting standards and rules. .91 0. There are a number of approaches for calculating depreciation. . In Ukrajina the regulator considers depreciation calculated by a company using a method in line with applicable tax code.62 - Turska D 10. In Gruzija. 0. Srbija and Turska the regulators determine assets lives that are used in the dozvoljeni prihod calculation. In other cases the regulator accepts the asset lives used by the regulated companies.7 11.

Network 50. equipment 20.Tabela4Depreciation of električna energija prenos and distribucija assets Depreciation Does the Asset lives (in years) method applied regulator define asset lives for prenos distribucija the regulatory purposes? Networks and Networks and Albanija Fiscal rates no substations 35 substations 20 years years Bosna i Network 25-40.line no energija energija equipment 20. substations 50- also possible 70 70 Straight.line no substations 35- Hercegovina substations 40 60 Buildings – 40. substations 25.line no network 50.line.line (the Network 35.15 (secondary) (secondary) Buildings 40. measuring measurement equipment 9 equipment 13-15 Office buildings Buildings 80.line no 35. Buildings 40.line no (primary). električna električna energija energija equipment – 15 equipment . 50-80. construction part substations 36 of distribucija 20- 80 20 . network 15- Moldavija Straight. asset lives differ Network and substations 35 Kosovo* for investments yes substations 40 metering before and after equipment 20 2012) Network 35-45. (primary). SCADA 25. Network and Straight. električna električna BJR Makedonija Straight. električna električna energija energija equipment – 33 equipment – 25 Hrvatska Straight. Straight. but Network 50. Transformers 3- prenos towers 25. Crna Gora Straight. Buildings – 35. Gruzija other methods yes substations 50.

line yes . Network operators are responsible for the compensation of losses. consumed energy that cannot be billed to an end user. the regulator has to ensure network efficiency.4-10kV. e. Ukrajina no code. usually buildings 20 buildings 2053 straight. 55 The maximum value is set for the amount of losses as well as the rule applicable for purchase price. The Tabela below provides information on thedefinition and criteria applied by the regulators of the analyzed markets for recognizing losses in the dozvoljeni prihod for električna energija prenos and distribucija and provides grafika for allowed losses and applicable cijene that are used for defining the allowed cost. buildings 50 years 54 In case of incentive based regulation the applied efficiency factor then also relates to costs of losses. Srbija Straight. Losses During the transport of electric power through an električna energija network.g.run. but also by stimulating network operators to reduce them. power is lost due to physical and non-physical reasons. In any case.30 years. fraud and human error.40 years. Network 50. Network 10. but not in a short-run (e.line 7. during the regulatory period). The way they are included in the dozvoljeni prihod (if included at all) can be different. The costs of network losses are mostly controllable in a long. - In line with applicable tax Network 10.line yes substations 25 substation 40 Turska Straight.e. 53 For new incentive based methodology: 0. Reasons for these losses include imprecise or incorrect readings. 35-150kV. 21 .g. They purchase appropriate quantities of energy in form of a scheduled supply with the required load profile. Network 40. Two types of network električna energija losses exist:  Technical lossesresulting from heating of conductors and transformers during električna energija prenos and  Non-technical losses i. as part of operating costs54 or as separate dozvoljeni prihod category 55 . not only by recognizing a certain amount of losses.

which determined by the annual tender determined the level of yes no organized by DSO in accordance total technical losses for with procedures approved by the the year 2008. done by the Albanija Purchase price for allowed losses is auditing company. the price for losses for the yes no energy balance and period 2009-2013 is equal to the investment plans cost for public generation According to the D Regulatory Statement for privatization there was a study for determining losses.Tabela5Recognition of losses in the dozvoljeni prihod for električna energija prenos and distribucija Is there a separate Costs related to network definition of Criteria for recognition How is price for allowed losses losses recognized in AR for technical of losses in the AR determined? prenos/distribucija? and non- technical losses? According to the market model T Actual costs from the applied. which is regulator considered as the base year for determining losses in the future periods based on the scenario losses reduction T no56 no Not applicable Not applicable 56 Transmission losses are treated as system service and not included in the transmission dozvoljeni prihod 22 .

maximum allowed losses 3% for Resulting from tender organized by BJR prenos. plan for of allowed reduction of losses losses is BIH-RS: data on the defined for structure and condition of technical and the network and metering BIH-FBIH: generation/procurement Bosna i commercial devices. but a BIH-FBIH: distribucija D separate % system analysis. structure of price yes Hercegovina losses in consumption of active and BIH-RS: generation/procurement BIH-RS reactive električna price plus prenos charge energija. losses recognized commercial costs not recognized 23 . as well as data from the study on losses. historical data Benchmark with similar Price for tariff customers- Hrvatska T&D yes No networks households. model blue Historical data. There is a definition for normative technical Only normative technical Gruzija T&D yes losses. TSO/DSO i. No. benchmarking and other available data. regulator approves submit also plan for procedure for tender reduction of losses.e. market price T&D yes No Makedonija For distribucija DSOs implemented.

The outturn level of actual prenos losses for the most recent complete period of 12 successive months for which accurate data is available. The level of prenos losses in comparable prenos systems in countries elsewhere in Europe. Any expected loss reduction that may reasonably be expected to be obtained based on Average wholesale energy cost T yes no the allowed investment calculated by regulator plan during the regulatory period. Regulator set targets for reduction of losses starting from 2012. 2. taking account of the similarities between the električna energija industry in those countries and that of Kosovo. In setting the loss allowance the regulator takes into account: 1.5 percentage points in the following 3 years 24 .3 Average wholesale energy cost D yes Yes percentage points in first calculated by regulator 3 years and 2. and Kosovo* 3.

The losses recognized in the dozvoljeni prihod are those related to technological consumption of električna energija necessary to operation of equipment involved in the transportation of električna energija. 25 . as of 26th July 2013 No Only normative technical Price of imported električna energija Moldavija T losses recognized and are determined as the difference between the amount of električna energija measured at points of entry into the electrical networks of transport and the amount of električna energija measured in points out of electric transport networks. Yes.

only Weighted average purchase Crna Gora T The total losses in the technical električna energija price prenos system set as the losses difference recognized.0% yes No.1. are calculated as the average of realization for the period of three years preceding the current one 57 Treated as stranded costs 26 .1.5%. According to provisions of Instruction for calculating technological consumption in electrical networks. and then . approved by ANRE. Commercial losses57: Price of imported električna energija D yes Yes methodology provides for plus prenos tariff the first 2 years of validity of Methodology a level of 2.0% of the total quantity of električna energija in the distribucija networks. in the next 2 years . based on historical data. between the total električna energija entering the prenos system and the električna energija leaving the prenos system.

no not not applicable not applicable Ukrajina T applicable 27 . The Agency sets the allowed losses in the distribucija system for each year of the regulatory period based on the study for reduction of losses in the distribucija system No. DSO does not submit the study. the allowed losses in the distribucija system for each year of the regulatory period shall be set onthe level that is not higher than the level set for the current year. analysis of the system. In the case that a recognized. Justified električna energija lost rate in one year set based on: realized loss rate in previous years. only revisedby an independent technical eligible institution in Crna D yes losses Gora. loss reduction plan and measures for its implementation. benchmark Weighted average purchase Srbija yes No with neighboring električna energija price prenos/distribucija systems.

but the relevant non. There is a definition for The level of normative normative technological losses technical determined by the losses and simulation results based Not explicitly. non. D costs included in retail not applicable technical normal mode of the tariffs/end-user cijene losses. network operation and technical volumes of distributed losses are električna energija not recognized 28 . on network topology.

The definitions of prenos losses do not distinguish between technical and non-technical (commercial) losses i. In those cases where more than normative technical losses are recognized in the dozvoljeni prihod. When calculating the level of losses related costs in the dozvoljeni prihod.e. 29 . Only in BJR Makedonija this price is explicitly market based.With the exception of Bosna i Hercegovina and Ukrajina. i. the TSO/DSO has to organize a tender for purchasing električna energija to cover losses. In Bosna i Hercegovina there is no definition of commercial losses. costs related to network losses are recognized in the dozvoljeni prihod for prenos in all markets. In Gruzija and Moldavija there is even a definition of normative (standardized) technical network losses that per default exclude any non.e. Please note that the allowed level of losses in the prenos network in Hrvatska has not been determined yet. in Bosna i Hercegovina the losses are treated as system service with an allowed percentage of losses (1. they are simply calculated as difference between input and output of energy. Dozvoljeni prihods for distribucija include costs related to network losses in all investigated markets.84%) and an applicable price not part of prenos dozvoljeni prihod calculation. Currently allowed percentages of losses in prenos and distribucija network are presented on the grafik below. regulators use different supply or purchase električna energijacijene (including prenos charges for distribucija losses). but the regulator of BIH entity Republika Srpska allows certain percentages for commercial losses.technical losses. the criteria used mainly rely on historical data on losses and benchmarking with other comparable networks. In Ukrajina only the definition of normative (standardized) technical network losses is applied. Forelektrična energija distribucija there is a separate definition of commercial losses in Kosovo* and Moldavija. The procedure of this tender is approved by the regulator. However.

58% to 3. Their range is from 2.12% (the grafik above shows the aggregate level of allowed losses).Grafik5Allowed levels of losses in the prenos networks (in %) Grafik6Allowed weighted average levels of losses in the distribucija networks (in %) 58 The percentages of allowed commercial losses for električna energija distribucija are separately expressed only in Bosna i Hercegovina.Republika Srpska. but only the range of recognized levels of losses. 58 In some cases weighted average level of losses is not available. 30 .

In order to avoid double earnings from the same assets. revenues from congestion or from reconnection. e.regulated revenues are deducted from the calculated dozvoljeni prihod for električna energija prenos. Grafik7Deduction of non. if not used for investments aiming to reduce congestion. can serve as appropriate `negative investment incentive` with a view to promote necessary system upgrades. the following mechanisms apply:  Albanija: o Prenos: revenues from capacity allocation o Distribucija: no deduction  Bosna i Hercegovina: o Prenos: ITC mechanism revenues. Deducted revenues Prenos and distribucija system operators may earn revenues from non-regulated activities performed by using the same assets already included in RAB.regulated revenues from the regulated dozvoljeni prihod in električna energija prenos and distribucija Where non.border prenos capacity allocation etc. The grafik below explains to which extent the regulatorne agencije of investigated markets deducted some non-regulated revenues from the prenos and distribucija dozvoljeni prihod. such as the revenues from the sale of by-products. the regulators often deduct such non-regulated revenues from the regulated dozvoljeni prihod. revenues from cross. 31 . 8. o Distribucija: revenues that a DSO realizes with the licensed assets. In this context it has to be noted that deduction of congestion revenues from the regulated dozvoljeni prihod. revenues from activating its own outputs.g.

32 . revenues arising from the mechanisms for električna energija transit compensation. revenues earned through allocating interconnection capacities. revenues arising from the guarantee of origin. electrical plant. revenues collected by selling regulated assets. all compensations for network connectionsrelated to maintenance operationof the connection assets and all other revenues that do not arise from the use of prenos grid.  Crna Gora59 (prenos): revenues from telecommunications services  Srbija: o Prenos: revenues arising from the activities on električna energija market organisation and management60. or redevelopment of any premises on which the asset in question is located or to which it is connected. revenues from the sale of assets.  BJR Makedonija: o Prenos: revenues from capacity allocation on interconnectors.neutral regarding costs and revenues from balancing (done on market). 59 For distribution there are no deducted revenues. but also deducts the same amount as part of other revenues. movement of any electric line. revenues arising from damage compensation. the regulator includes planned balancing related costs as part of operating costs in the dozvoljeni prihod. the cost of which is to be borne by a user of the system or a party requesting the relocation. revision of electric lines and electrical plant to the extent required by any user of the prenos/distribucija system to provide a higher degree of security than is required TSO’s/DSO's license (Prenos System Security and Planning Standards). redesign. separated part of the revenue of the period based on realization of the donated assets and other revenues realized using the licensed assets included in the regulatory base. 60 Revenues earned from organizing and managing electricity market 61 Having in mind that the TSO also performs the activities of market operation and in order to provide that it remains cost.regulated activities earned by using regulated assets. as part of correction element. o Distribucija: revenues from non. or metering equipment that forms part of the prenos/distribucija system to accommodate the extension. Any differences between planned and realized balancing costs/revenues are then added or deducted from the dozvoljeni prihod of the next year. revenues arising from the sales of side-products and services.  Kosovo*: currently there are no revenues deducted.g. ITC mechanism revenues. revenues from activation of own goods and outputs. revenues collected by balancing activities61. e. but there is a non-exhaustive lista »excluded services« for which the TSO/MO and DSO levy a charge and the revenues resulting from them are then deducted from transmssion/distribucija dozvoljeni prihod:the carrying out of works the cost of which is required to be reimbursed by a user of the system or a third party. provision of any metering service that is not already remunerated under any other charge in respect of an excluded service. revenues from reconnection.relocation of any electric line or electrical plant.

revenues arising from električna energija delivery suspension and other revenues. the quantity of sold products needs to be established for the determination of actual the tariff. optimal use of capacity and energy balance and to modify. regulator has the right to check if in line with balancing rules. revenues arising from električna energija suspension and other revenues. Tabela6Sources of quantities used for električna energijaprenos and distribucija tariff calculation Sources of quantities used for Sources of quantities used prenos tariff calculation for distribucija tariff calculation Energy balance for the next Quantities proposed by Albanija year prepared by the TSO the DSO and controlled by the regulator to avoid discrepancies with the quantities reported by other relevant market participants Energy balance for the next BIH-FBIH: DSO’s Bosna i Hercegovina year prepared by the ISO planned quantities that are part of energy balance harmonized with ISO. regulators should establish and publish criteria for revising or approving these quantities. Overestimated or underestimated quantities may substantially influence the level of tariffs. o Distribucija: revenues arising from the sales of side-products and services. BIH-RS: DSO’s planned quantities. revenues collected by selling regulated assets. This is the reason why most of the regulators revise and finally approve the level of quantities to be used for determination of tariffs. revenues arising from damage compensation. 33 . 9. revenues from activation of own goods and outputs. In order to be transparent when calculating or approving tariffs. if needed. The Tabela below provides an overview of the criteria implemented for revision and determination of quantities used for calculation of prenos and distribucija tariffs. Quantities Once the dozvoljeni prihod is calculated.

for the purpose of tariff calculation. 34 . subject to AERS’ analysis subject to AERS’ analysis The volume of električna Ukrajina energija distributed on the appropriate voltage level includes volumes of transformation of električna energija from high voltage to a lower level. The volume is based on the energy balance but regulator considers also actual volumes of the previous year From the information presented in the Tabela above it can be concluded that in the majority of cases regulators prefer having a concrete and provable source of data for quantities used for tariff calculation. The exceptionisMoldavija. volumes of Quarterly forecast based on električna energija energy balance approved by supplied to customers for the relevant ministry this voltage level.where the regulator uses quantities from the contracts for calculating tariffs 62 In general. regardless of the connection point of customers to networks. such as energy balance or concluded contracts. but in 2011 the energy balance was changed in order to include also the level of distribution losses allowed by the regulator. TSO’s planned by the Government. in most of the markets the regulators also have the right to change the amounts of volume taken over from energy balances or other sources. TSO. However. quantities and historical data DSO’s planned quantities and historical data Energy balance approved Gruzija Energy balance approved by by the ministry based on the ministry based on actual actual data of the data of the previous year previous year Yearly energy balance Yearly energy balance Kosovo* approved by the ministry approved by the ministry Procurement contract Moldavija Contract between TSO and between DSO and suppliers suppliers Energy balance adopted by the Energy balance adopted Crna Gora Government62 by the Government Planned quantities Srbija Planned quantities proposed by proposed by DSO. the regulator is not allowed to change the energy balance approved by the Government. Data from TSO Data from DSO Hrvatska Energy balance adopted by the Energy balance adopted BJR Makedonija Government.

the regulators calculate correction based only on quantities. Tabela7Costs of ancillary services recognized in the dozvoljeni prihod for električna energija prenos Costs of ancillary services Types of ancillary services included in dozvoljeni included in the dozvoljeni prihod prihod? Albanija yes all 63 In FYR of Macedonia this is the average passive interest rate published by the National Bank. These two values are always different due to the difference between planned and actual quantities. The Tabela below shows to which extent costs of these services are included in the dozvoljeni prihod for prenos. 11. but also because of different planned and realized costs.and these quantities are then revised in the scope of correction of the dozvoljeni prihod for the next year (see Chapter 10 on correction). positive or negative. where the regulator multiplies the difference between allowed and realized revenue by a predefined interest rate 63. Correction After expiry of the regulatory period regulators have the opportunity to calculate the difference between the allowed and actually earned revenue. Ancillary services Ancillary services are services necessary for safe. The amount of over/under-recovery is then to be compensated in the next regulatory period. The exceptions are Hrvatska and Ukrajina for both prenos and distribucija and Turska for distribucija. In Moldavija the differences between planed and realized values of relevant elements of the dozvoljeni prihod. The methodologies for the calculation of prenos and distribucija dozvoljeni prihods and tariffs in the analyzed markets envisage calculation of correction factor based on both realized quantities and costs. 35 . 10. Specific approaches are applied in BJR Makedonija and Kosovo*. where the S reflects the premium payable by the licensee for short-term loans above the EURIBOR rate. reliable and sTabela operation of the network. In Kosovo* it is determined as the sum of EURIBOR rate and S.are discounted at the rate of return and then included in the dozvoljeni prihod for the next period.

Bosna i Hercegovina no64 n.capability of a power plant for black start Costs of frequency regulation BJR Makedonija service and exchange power (primary.a.The primary control.Supply of reactive power and . .Tertiary regulation.capability of a power plant to operate without any external električna energija supply.a. . the relevant financial transactions take place outside the system operator.05. secondary and tertiary yes regulation).reactive yes power. yes . .245 from 02. .Voltage regulation .2007) 36 . voltage regulation and the share in the establishment of the power system (black start). .without reimbursement .Ability to restart the power system from black start - without reimbursement Costs of frequency regulation Srbija service and exchange power (primary. . . no (reserves are Ukrajina procured by market operator and relevant not applicable costs are included in the wholesale price of električna energija) 64 According to the existing model of providing ancillary services in BIH. Kosovo* Ancillary services currently not yes contracted Moldavija no65 n. Crna Gora . secondary and tertiary yes regulation).Secondary regulation. 65 These costs are covered by the income from ancillary services rendered by operator at tariffs approved by the methodology developed by the regulator (Nr.reactive energy production. .secondary and tertiary Hrvatska regulation. voltage regulation and the share in the establishment of the power system (black start).capability for island operation of a part of the power system.

37 .

When regulating end-user cijene. Under certain circumstances final električna energijacijene also include components such as bad debts or non. in case regulated energy cijene are set at levels that do not allow recovery of costs. Please note that the costs of prenos and distribucija charged through end. as defined by the acquis. non-discriminatory.pdf) 38 . Against this background. The Tabela below explains how these elements are included in the regulated električna energija end-user cijene.  supply service costs. For the EU market see ACER/CEER. in the general economic interest. in many countries regulated end-user cijene for both households and non-household customers still exist68.2. is the right to be supplied with električna energija of a specified quality within their territory at reasonable. all household customers and small enterprises. i. in line with applicable tariff systems.e. Annual Report on the Results of Monitoring the Internal Electricity and Gas Markets in 2011. are entitled to enjoy universal service.discriminatory cijene67. 3(2) of the Electricity Directive 67 Art. cost of providing električna energija.energy- community. among other. public service obligations which may be related.org/portal/page/portal/ENC_HOME/AREAS_OF_WORK/ELECTRICITY/Regulated_prices).3(3) of the Electricity Directive 68 The Energetska zajednica Secretariat assessed the existing approaches and their compliance with the Energetska zajednica acquis (http://www. regulatory fees.user električna energija price by the supplier are then transferred to the operators of prenos and distribucija system. support for renewables etc.energy-regulators. chapter 2. transparent. verifiable and shall guarantee equality of access for električna energija undertakings to consumers 66. Furthermore. several components are added to the network charges:  commodity price i.1 (http://www. charge for market operator’s services.eu/portal/page/portal/EER_HOME/EER_PUBLICATIONS/CEER_PAPERS/Cross- Sectoral/2012/ACERCEER%20Market%20Monitoring%20Report.Regulation of električna energija supply According to the Energetska zajednicaacquiscommunautaire Contracting Parties may impose on energy companies. Such obligations need to be clearly defined. easily and clearly comparable. levies. Tabela8Structure of dozvoljeni prihod for električna energija supply Structure of maximally dozvoljeni prihod (MAR) for regulated električna energija supply MARt=costs of električna energija purchase+prenos Albanija costs+distribucija costs+ supply service costs+bad debt 66 Art. It has to be noted that.  taxes.e. transparent and non. to the price of supply.collection rate. they tend to establish a barrier for the development of competition and effective market opening.

Customers that can chosses their suppliers pay network charges separately from electricity and supply costs. which is set at Annual Updates WCLCt is allowed working capital costs in year t WHPCt is allowed wholesale power costs in year t PSTCt is Pass-Through Costs in year t NTFRt is non-tariff revenues in year t KREVt is the revenue correction factor in year t BDTAt is the bad debt allowance in year t. 39 . set as a percentage (%) MARt= costs of električna energija purchase+ prenos costs+ Moldavija distribucija costs+ supply service costs MARt = the operating costs for the regulated activity (OCt) + Crna Gora depreciation (Dt) + return on assets (RAt) MARt = OPEXt + Dt + NEEt + TUoSt + DUoSt + ARCR t + Srbija CFt Where: t = regulatory period.NTFRt + Kosovo* KREVt) / (1-BDTAt) Where: RETRt is allowed retail costs in year t. allowance MARt=costs of električna energija purchase+prenos Bosna i Hercegovina costs+distribucija costs+ supply service costs MARt = costs of električna energija purchase + supply Hrvatska69 service costs + prenos costs + distribucija costs MARt=Ot + Dt + CPTt + Et + TNUt + MOt + DNUt + Mt + BJR Makedonija LCt -Kt Where: Ot are operating costs in year t Dt is depreciation in year t CPTt are costs pass.through in year t Et are costs for električna energija purchase TNUt are costs for prenos in year t MOt are costs for električna energija market operator in year t DNUt are costs for distribucija in year t Mt is margin for activity električna energija supply of tariff consumers LCt are recognized bad debts in year t Kt is correction element in year t MARt = (RETRt + WCLCt + WHPCt + PSTCt . in period t TUoSt = prenos use of system charges in period t 69 Applicable only to household customers. OPEXt = operating expenditure in period t Dt = depreciation costs in period t NEEt = costs of električna energija procurement from wholesale supplier including also associated costs.

user cijene.projected uncontrolled operating costs for supply of električna energija at regulated tariff in year t. the final cijene are changed by Hrvatska request of energy suppliers based on tariff system for električna energija generation no automatic mechanism. this influences the cost of providing that commodity to the customers by the suppliers. income tax.e. Tabela9Treatment of change in commodity cijene in the final električna energija price regulation Treatment of change in commodity cijene in the final price regulation Dozvoljeni prihod for retail public supply updated annually Albanija based on change in wholesale električna energija costs.projected income tax in the year t In case the price of commodity changes. the regulatory authority has to define a mechanism to take these changes into account when determining the end. labor costs. 40 . when the change of commodity cijene will result in a change of final price as well as whether this will be treated as pass-through cost 70 or some limitation of cost level is introduced. depreciation. The costs from profit for: dividends/base amount. other purposes. the final cijene are changed by BJR Makedonija new tariff proceeding (taken into account every year) 70 Whole amount of cost change will be carried over to the customers. Where: ОКВn . For new incentive regulation methodology: НДnt = ОКВn t + ОНВnt + Аnt + Пnt + ППnt. Аnt – projected depreciation in year t. This mechanism should describe the cases. ППn t . If the supply is regulated. BIH-FBIH: no automatic mechanism. on the request of a supplier no automatic mechanism..projected controlled operating costs for supply of električna energija at regulated tariff in year t. грн. other operating expenses. ОНВnt . Пnt .projected return on the regulatory asset base at year t after tax. тис. DUoSt = distribucija use of system charges in period t Pt = profit of the public supplier in period t CFt = correction factor in period t Operating costs: material costs. social Ukrajina expenditures. development of production / production investments. the final cijene are Bosna i Hercegovina changed by new tariff proceeding i.

e.user price for consumers changes accordingly. For other consumers. generally. supply and take into account normative technological losses in networks. is calculated monthly. correction calculated every year during the regulatory period) no automatic mechanism. and deviation of paying for purchased električna energija. or the tariff for električna energija production by the licensee in own power station in the billing month. the tariff for distribucija. retail tariffs are calculated according to the formula provided in the license conditions and rules of the supply at regulated tariffs.related cost influences the total level of allowed costs by more than 1% The change in commodity cijene is taken into account when Crna Gora calculating correction element for the regulatory year (i. but as tariffs for households are subsidized. but suppliers may submit to the Srbija regulator price proposals after any change in električna energija purchase price Dozvoljeni prihod and cijene are revised quarterly based on Turska actual costs and cijene According to the procedure of retail električna energija tariff Ukrajina calculation for customers (except households) licensees that the retail price for električna energija supplied at regulated tariff. In the case of monthly changes of wholesale električna energijacijene. end. Changes in the price of električna energija as a commodity affect the level of the estimated rate for the households. taking into account the adjustments for previous periods. However. the whole amount of cost change is carried over to the customers. From the Tabela above it can be concluded that change in commodity cijene result in changes in final cijene mostly on the request of regulated suppliers and. it does not automatically change the actual end-user price for households. adopted by NERC. maximal dozvoljeni prihod for supply is updated annually Kosovo* taking into consideration also wholesale električna energija costs (see Tabela 8) The change in commodity price is treated as pass-through Moldavija cost and the final price is changes if this commodity. which includes the wholesale market price. the change of 41 . The price of električna energija as a commodity is taken as estimated average purchase price of električna energija in the month for which retail cijene are set and includes projected wholesale market cijene for this month (approved by NERC) as well as the price at which the licensee in accordance with the contract purchased električna energija directly from the producer.

Supply service costs.e. non- collection rate. in BJR Makedonija. quarterly in Turska and every month in Ukrajina for customers other than households. such as costs for billing.e. Before approving a bad debt allowance. it is reasonable to consider whether the dozvoljeni prihod for supply should include an allowance for bad debt or a non-collection rate. into the dozvoljeni prihod for električna energija supply. companiesmake an estimate of bad debt expenses that might be incurred in the current time period based on past records as part of the process of estimating earnings. exceed 1% of the total allowed costs. i.com) 42 . input commodity cijene is assessed every year in BJR Makedonija. this change is performed in case the pass-through costs.regulated end-user cijene on the ground of. Crna Gora. The difference between these two terms only develops from the regulatory practice i. Most companies make a bad debt allowance since it is unlikely that all of their debtors will pay them in full (www. Having in mind that a supplier is the entity delivering final product to the customers and therefore collecting revenues. The grafik below shows which regulatorne agencije include bad debt allowance. Kosovo* and Albanija. regulators normally do not simply take over the amount of companies´ bad debt allowance into the dozvoljeni prihod. 71 Bad debts are accounts receivable that will likely remain uncollectable and will be written off. However. Srbija and Ukrajina). are always included in the dozvoljeni prihod for električna energija supply (see Tabela 8 above). but define criteria and formulas for calculating the allowed expense. In general. thus reducing net income. among other. Bad debts appear as an expense on the company's income statement. In Moldavija. accounting term used is bad debt allowance71. contract administration or customer service/call centers. including commodity-related cost influence. the regulatorne agencije typically ask companies to prove that they employed all possible measures to collect their receivables and also take into consideration whether the costs for collecting debt are bigger than the losses caused by writing them off. Sometimes also a retail margin/profit is allowed in the regulated revenue of suppliers(e.investorwords.g.

85 starting form 2012 and 1% reduction per year by 2014 % in Albanija  1% in Bosna i Hercegovina  3.Grafik8Treatment of bad debt for the električna energija supply The maximally allowed percentages of bad debt included in the regulated revenues of suppliers are:  14. While all justified costs borne by the regulated suppliers are included in the overall amount of allowed costs and the final tariff. i. they are always treated as pass. the question aimed to identify whether these costs are transparent to the final customers.e. The Tabelas below summarize the responses received. 43 .5% in BJR Makedonija  5% for 3 years starting from 2012 and 4% for the next 3 years in Kosovo* and Finally. the regulatorne agencije of the analyzed markets were asked whether some other charges or levies are explicitly included in the dozvoljeni prihod for električna energija supply. in particular regulatory fees and-or support for renewable energy.through costs).

implicitly. in the prenos tariff Turska No. Srbija Regulatory charge is part of operational costs of the električna energija prenos operator. in which tariff(s)? Yes. for 2013.1% of revenues of all licensed companies. implicitly. implicitly72.05% of Hrvatska revenues of all licensed companies plus some administrative charges) Yes. implicitly.037%) Yes. in the prenos tariff.9% * (AOPEXt + Dt + WACCt * RABt) where: AOPEXt . The fees for issuing are expressed in Euro and yearly fees in Euro cent per MW and MWh.Tabela10Financing of regulatory authority and final tariffs and cijene Are the costs for financing the regulatory authority included in tariff? If yes.0. in tariffs for all regulated activities Bosna i Hercegovina Yes.adjusted operating cost calculated before inclusion of purchasing value of električna energija for balancing and regulatory charge in period t Yes. implicitly. in tariffs for all regulated activities Gruzija Yes. implicitly. in tariffs for prenos. implicitly. This regulatory charge is calculated according to the following formula: RCt = 0. in tariffs for all regulated activities (0. distribucija and supply Moldavija Yes. in tariffs for all regulated activities73 Crna Gora Yes.for issuing and yearly for usage. implicitly. 44 . regulatory authority is financed through the state budget Ukrajina 72 Throughout the table `implicitly` indicates that the costs are not separately displayed to customers. in tariffs for all regulated activities (may not Kosovo* exceed 2% of annual revenue) Yes. in tariffs for all regulated activities Albanija Yes. implicitly. 73 The regulator is financed through license fees. implicitly. in tariffs for all regulated activities (may not BJR Makedonija exceed 0.

in the tariff for organization and operation of the BJR Makedonija market-0.049€/MWh.the share of RES in wholesale price is visible on the bill on the annual basis. will be visible on the bill when new scheme is applied Yes. paid by all final customers (market operator buys električna energija from preferential generators and pays feed-in tariff). in supply tariff. not visible on the električna energija bill Kosovo* Yes. 0. paid by all final customers and Hrvatska displayed separately on električna energija bill Yes. The calculating formula of this methodology is based on the price of the imported electricity by Wholesale Public Supplier of the previous year plus 10% bonus.not visible on the bill. paid by all final Bosna i Hercegovina customers and expressed separately on električna energija bill BIH-FBIH: yes. in which tariff(s)? Yes. in supply tariff Turska Yes. not visible on the bill No Gruzija Yes. 0. in supply tariff. 138 2:05. in the tariff for wholesale public supply 74 Albanija BIH-RS: yes. in supply tariff. 45 . not visible on the električna energija bill Moldavija No Crna Gora No Srbija Yes. Starting from 2014 the regulator must apply the Law No. 74 Until 2013 the RES support/feed in tariff is calculated pursuant to the methodology for calculating the price of new HPP up to 15 MW which has taken in consideration the Law on Concessions.0009 BAM/kWh for 2013. costs of connection of RES generation to the network- Ukrajina in the distribucija/prenos tariff.05kn/kWh for 2012.Tabela11Inclusion of support for električna energija from renewable sources in električna energija tariff(s) Is RES support allowance included in tariff? If yes.2013 on RES which defines the calculation formula applicable for each renewable resource technology while elements of the formula will be determined by the regulator every three years. Feed in tariff is included in the wholesale price of električna energija.

12. Univerzalne usluge

The previously described process of end-user price regulation usually refers to universal service
provision75. This universal service may be provided by a supplier of last resort. However, the
Električna energija Directive neither provides definition of a supplier of last resort nor defines the
circumstances under which it should be applied. In the light of this, the European Regulators
Group for Električna energija and Gas (ERGEG) in 2009 investigated the use of this term in the
energy sectors of EU countries76. The ERGEG survey also explored whether the similar term of a
default supplier also exists and in which cases it is used. The ERGEG analysis showed that the
majority of EU countries have a definition of the term supplier of last resort but less than half of
the EU Member States use a definition for the term default supplier. However, the assessment
also showed that it is not unusual for the supplier of last resort to also act as default supplier and
vice versa. A supplier of last resort is mostly activated when a (chosen or default) supplier goes
bankrupt, while default suppliers usually step in when a customer is inactive on the market, i.e.
did not choose a supplier.

In the Energetska zajednica Contracting Parties and other analyzed markets the application of
default suppliers and/or suppliers of last resort is described in the Tabela below.

75
The general right of households and small enterprises to be supplied with electricity of a specified quality at reasonable,
easily and clearly comparable, transparent and non- discriminatory prices )Electricity Directive).
76
Status review of the definitions of vulnerable customer, default supplier and supplier of last resort, ERGEG, July 2009,
available at http://www.energy-
regulators.eu/portal/page/portal/EER_HOME/EER_PUBLICATIONS/CEER_PAPERS/Customers/Tab/E09-CEM-26-
04_StatusReview_16-Jul-09.pdf

46

Tabela12Application of default supplier and supplier of last resort as universal service in
električna energija supply

Definition of Definition of End- user Is there a special Is there a special Share
default supplier of customers tariff methodology tariff methodology house
supplier (DS) last resort eligible for being for DS? for SLR? suppli
(SLR) supplied by defaul
DS/SLR total h

no yes all no no
Albanija

yes yes all Yes yes
Bosna i
Hercegovina

yes, for yes, for all Households for Yes yes
Hrvatska households customers DS, all for SLR
no yes Households yes yes
BJR and small
Makedonija enterprises
no yes all no no
Kosovo*

no yes all not applicable yes
Moldavija

no yes all no no
Crna Gora

no yes Households Yes no
Srbija and small
enterprises
no yes all Not applicable -
Turska

no77 no all no no
Ukrajina

77
Default supplier and supplier of last resort in Ukrainian legislation are not defined as such.But, according to the
Electricity Law and Rules and Conditions of business activity for electricity supply at regulated tariff № 15/1 of 13.06.1996,
adopted by NERC, licensee has no right to refuse to conclude an electricity supply agreement with customer which is
located in designated area, and must purchase electricity on the wholesale electricity market of Ukrajina to supply
electricity to any consumer located in designated area based on electricity supply contract.

47

Tabela13Cases in which default supplier or supplier of last resort is applicable

Customer Customer
Supplier goes Customer does not
non- cannot find a Expired contract
bankrupt choose a supplier
payment supplier

Albanija SLR SLR SLR

Bosna i
SLR SLR DS DS
Hercegovina

In Hr
Hrvatska univ
sup
appli
hous

house
appl
non
custo
mom
O
distrib
is D

BJR Makedonija SLR

Kosovo* SLR SLR SLR

Moldavija SLR SLR
If fin
Crna Gora loses
SLR
reas
cann

Srbija SLR SLR SLR

Turska SLR SLR SLR

Ukrajina not applicable

48

In all other examined markets the final deadline for abandoning regulated end-user cijene for households is 1 st January 2015 and for small enterprises in some cases even earlier (please sees the grafik below for details). Crna Gora. Hrvatska. by organizing auctions. the energy is procured on the wholesale električna energija market (single buyer model) as well as by contracts with the producers which are not obliged to sell električna energija to the wholesale market.In order to calculate the dozvoljeni prihod for the provision of universal service the regulators sometimes define how the commodity sold by retailers is to be procured. 79 15% power exchange. In the great majority of the analyzed markets bilateral contracts are used for procurement of energy for universal service provision. 81 In FYR of Macedonia the deadline for small enterprises is 1st April 2014. Finally. Grafik9 Vremenski raspored za ukidanje regulisane cijene za domaćinstva i mala preduzeća 81 REZIME REZULTATA 78 The energy is procured from the electricity generator whose license also includes the obligation on public service provision under prices approved by the regulator as well as from the liberalized market under rules approved also by the regulator (tendering procedure). In Ukrajina. 49 . Crna Gora and Turska79 the energy is procured by using a combination of methods 80. the provision of universal service or fulfillment of public service obligation in the sense of implementing regulation of end-user cijene is in many cases limited in time. 5% other 80 In Albania retail public supplier buys electricity from wholesale public supply for tariff customers. Turska and Ukrajina the implementation of regulated cijene for households and small enterprises has no time limitation. only the electricity for covering losses is bought on the market. such as procurement at power exchange. 80% bilateral contracts. There are several possibilities. or some combination of mentioned methods. In Albanija. by bilateral contracts. The regulatorne agencije always have insight in those contracts. Only in BJR Makedonija 78.

Turskoj (za električnu energiju) i Ukrajini (za gas). naknade za gubitke na mreži. Hrvatskoj. koji nije određen kao povrat na angažovani kapital. 5. Moldaviji. Hrvatskoj i Kosovu* za električnu energiju i u Gruziji i Turskoj za električnu energiju i gas uključuju sve operativne i troškove održavanja iz zakonom propisanog računovodstva u dozvoljenom prihodu. 4.Regulacija energetskog sektora mrežne industrije prati slične principe I kriterijume za određivanje mrežnih tarifa i. uglavnom zbog nedostatka relevantnog iskustva. 2% u Moldaviji (električna energija i gas). regulatorne agencije treba da osiguraju održavanje odgovoarajućeg nivoa usluga.Na svim ostalim tržištima neke kategorije troškova su unaprijed definisane kao opravdani ili neopravdani troškovi koji se mogu ili ne mogu kontrolisati ( i time se mogu prenijeti) i obično su predmet procjene regulatora. Bosni i Hercegovini. Najčešće primjenjivani mehanizmi kontrole cijene implementirani u sektoru za električnu energiju i gas su regulacija “troškovi-plus (stopa povrata) ili regulacija maksimalnog prihoda. regulacija maksimalne cijene se koristi u veoma ograničenom broju slučajeva. Glavni zaključak ovog izvještaja se sumira na sljedeći način: 1.Odstupajući od ovog principa. na analiziranim tržištima koja primjenjuju podsticajnu regulaciju ovaj faktor i dalje veoma često iznosi 0% (Albanija i Turska za električnu energiju. Osim toga. 2. naime opravdane operativne i troškove održavanja. Da bi se olakšao proces obračuna dozvoljenog prihoda neke regulatorne agencije traže od regulisanih preduzeća da pripreme i dostave odvojene regulisane račune koji se u određenoj mjeri razlikuju od nacionalnih zakonom propisanih računovodstvenih smjenica. Izuzetak je Ukrajina. Kosovu*. gdje je to moguće. Kod priznavanja operativnih i troškova održavanja u dozvoljenom prihodu regulisanog preduzeća. REGULACIJA MREŽE 1. Hrvatska i BJR Makedonija za gas). kao i korektivni faktor koji upućuje na varijacije između predviđenih i stvarnih vrijednosti. kapitalne troškove. ali isto tako i izbjegavanje prekomjernih troškova uključenih u tarifu. u kojoj se obračun dozvoljenog prihoda vrši uzimanjem u obzir razumnog nivoa troškova I projektovanog profita. Takva pravila za regulatorno računovodstvo se koriste u Albaniji. Na nekim tržištima faktori efikasnosti su definisani: 4% na Kosovu (električna energija). regulatori u Bosni i Hercegovini (sa izuzetkom njenog entiteta Republike Srpske).5 CPI u Crnoj Gori (električna energija). U slučaju podsticajne regulacije primjenjuje se faktor efikasnosti. 3. 0. 50 . Za sve tipove regulacije tarifa utvrđuje se dozvoljeni prihod. Ovaj izvještaj analizira kriterijume primijenjene za određivanje elemenata dozvoljenog prihoda. U BJR Makedoniji tarifne metodologije uključuju čak i ograničenja za izvjesne kategorije troškova kao što su troškovi održavanja i rada. Međutim. cijena za krajnje korisnike na svim analiziranim tržištima. ovaj izvještaj je istraživao koji se principi primjenjuju za regulaciju cijena za kranje korisnike gasa i električne energije. Povrat na sredstva se tipično obračunava kao proizvod regulatorne osnove imovine I stope povrata na gotovo svim ispitivanim tržištima.

regulatorne agencije u nekim zemljama imaju pravo da ponovo procijene imovinu za potrebe određivanja tarife (Albanija. Neka druga imovina se takođe razmatra kod donošenja odluke o regulatornoj osnovi imovine. . U Hrvatskoj. Hrvatske i Crne Gore.za prenos gasa) i radni kapital (priznat u dozvoljenom prihodu za električnu energiju od strane regulatorne agencije Albanije.8% za prenos. Srbije. 9. Rezultirajući nivoi stope povrata u sektoru za električnu energiju rangiraju od 0. . Međutim. Crne Gore. Kapitalni doprinosi. kao uobičajeni metod koji se koristi za obračun stope povrata u regulisanim energetskim preduzećima se primjenjuje na svim analiziranim tržištima. Definicija i kriterijumi za priznavanje troškova gubitaka u dozvoljenom prihodu svih regulisanih aktivnosti se ne razlikuju značajno između analiziranih tržišta. Međutim. Bosna i Hercegovina za distribuciju električne energije i gasa. u cilju omogućavanja povrata na sredstva kojeg ne finansiraju regulisane kompanije.67% u Bosni i Hercegovini do 8. regulatorna osnova imovine može da se koriguje godišnje u slučaju podsticajne regulacije. troškovi za nadoknađivanje gubitaka nijesu uključeni u dozvoljeni prihod za prenos električne energije u Bosni i Hercegovini i u Ukrajini. regulatorne agencije analiziranih tržišta uglavnom koriste pravolinijsku amortizaciju. Hrvatske. Realizacija investicionih planova utiče na obim regulatorne osnove imovine u mjeri u kojoj dozvoljeni prihod uključuje neke investicije unaprijed. izuzetno. . 8. BJR Makedonija. U sektoru za gas. su isključeni iz regulatorne osnove imovine na svim analiziranim tržištima. Gruzija.23% i za prenos i za distribuciju). Na kraju.ante investicione planove i nadgledaju njihovu primjenu. Na gotovo svim analiziranim tržištima regulatorne agencije odobravaju ex. kao što su direktna plaćanja od strane korisnika imovine ili različiti grantovi od strane vlada ili drugih institucija. Crna Gora. to je slučaj u Moldaviji (za potrebe uključivanja otpočetih investicija) i u Crnoj Gori (korekcije za investicije realizovane ispod 50% unaprijed odobrene vrijednosti).50% u Bosni i Hercegovina do 14. Bosne i Hercegovine. Turska). ponekad je dozvoljena amortizacija takve imovine.za distribuciju električne energije. Gruzije. Bosne i Hercegovine. što je slučaj u Crnoj Gori i BJR Makedoniji. ova prava ne sprovode svi regulatori. U nekim slučajevima one određuju i vijek trajanja imovine koja će se koristiti za obračun dozvoljenog prihoda. Kod obračuna amortizacije. ove vrijednosti su ponovo najniže u Bosni i Hercegovini (1. Kosovo*.Republika Srpska). u drugim slučajevima se primjenjuju uobičajena računovodstvena pravila. Imajući u vidu značajan uticaj vrijednosti regulatorne osnove imovine na povrat na sredstva i stoga na krajnje tarife.12% u Moldaviji za distribuciju električne energije. 0% i 6% za dvije distributivne kompanije) i najviše u Moldaviji (12. kao način podsticanja investicija.Republika Srpska i Srbiji gdje se priznaje samo dio investicija koje će otpočeti u regulatornom periodu.95% u Moldaviji za prenos i od 3. 7. 51 . a u Bosni i Hercegovini.6. . kao što su nematerijalna ulaganja (priznata u odobrenom prihodu od stane regulatorne agencije Albanije. Ponderisani prosjek troška kapitala. korekcija regulatorne osnove imovine na godišnjoj osnovi može da se primijeni samo u izuzetnim slučajevima. za gas samo u Bosni i Hercegovini. .za gas i Turske.

na većini tržišta regulatori imaju takođe i pravo promjene prijavljenih obima.5%) do 3. kao i karakteristike mreže. Na većem broju analiziranih tržšta regulatori preferiraju konkretne i dokazive izvore podataka za količine korišćenje za obračun tarife. 10.86% u Gruziji (samo za jednog OPS. 2.66% u Crnoj Gori. prenosa i distribucije energije. zagušenje ili ponovno priključenje). Odvojena definicija komercijalnih gubitaka postoji samo u Moldaviji za električnu energiju. Da bi se obračunao nivo relevantnih troškova. . Dozvoljeni prihod za regulisano snabdijevanje energijom uključuje troškove prenosa i distribucije (koje naplaćuju snabdjevači. U sektoru za gas nivoi priznatih gubitaka su od 0. 52 . Gruziji i Moldaviji) a u sektoru za gas u Hrvatskoj. ali koji se kasnije prenose na relevantne operatore sistema u skladu sa važećim tarifnim sistemima). U sektoru za električnu energiju to je slučaj u većini zemalja (ali ne u Hrvatskoj. REGULACIJA CIJENE ENERGIJE Pored regulacije prirodnih monopola t. 11. Gruziji i Srbiji.u cilju izbjegavanja dvostruke zarade iz iste imovine. neke regulatorne agencije oduzimaju prihode od neregulisanih aktivnosti (p. regulatori treba da utvrde obime energije koja će se koristiti u relevantnom procesu. u Bosni i Hercegovini. Izuzetak je Hrvatska gdje se regulisane cijene primjenjuju samo za domaćinstva. regulatori na istraživanim tržištima obično analiziraju nivo realizovanih gubitaka u prethodnim godinama i planove za njihovo smanjenje.7% u BJR Makedoniji do 5. kao što su energetski bilans ili obraunati ugovori. . Kod donošenja odluke o nivou gubitaka dozvoljenih u regulisanom prihodu.Kada se dozvoljeni prihod za regulisane kompanije obračuna uključivanjem svih opravdanih troškova. Trenutno dozvoljeni nivoi gubitaka u sektoru za električnu energiju kreću se u opsegu od 0. 12.Po isteku regulatornog perioda regulatorne agencije obračunavaju razliku između odobrenog i stvarno zarađenog pihoda a iznos rezultirajućeg prekomjernog ili podcijenjenog povrata se nakon toga nadoknađuje u narednom regulatornom periodu.r. regulatori treba da definišu i cijenu električne energije i gasa korišćenih za vrednovanje gubitaka a to je obično nabavna cijena energije (u BJR Makedoniji se primjenjuje tržišna cijena za gubitke električne energije). Međutim.Republici Srpskoj odvojeni procenat komercijalnih gubitaka se priznaje u dozvoljenom prihodu za distribuciju električne energije. za ostale 3.40% na Kosovu* za distribuciju. posebno da bi se uzele u obzir realne tržišne transakcije. troškove nabavljene energije.03% u Srbiji do 5% u Gruziji za prenos i od 0.23% u Moldaviji za distribuciju. Međutim. Da bi obračunali tarife. Regulatorne agencije analiziranih tržišta uglavnom izračunavaju faktor korekcije koji se zasniva na obimima trnsportovane energije i realizovanih troškova. troškove usluga snabdijevanja i ponekad maloprodajnu maržu/profit ili stopu nenaplate. za prenos i od 8% u Hrvatskoj do 27. na svim analiziranim tržištima i dalje postoje regulisane cijene za krajnjeg korisnika za potrošače kategorije domaćinstva i ostale potrošače.j.

OSTALE NAKNADE Na kraju. U slučaju naknada za cijenu roba. Podrška za električnu energiju iz obnovljivih izvora je uključena u veleprodajnu tarifu za javno snabdijevanje u Albaniji i Ukrajini. koncept univerzalne usluge se koristi za regulisano snabdijevanje na svim analiziranim tržištima sa izuzetkom Ukrajine. Kosovu*. . Univerzalne usluge pruža snabdjevač posljednjeg izbora na svim analiziranim tržištima. 3. Turskoj i Kosovu*. Izuzimajući Ukrajinu. su takođe uključene u regulisane tarife ili cijene za krajnje korisnike. Hrvatskoj. Crnoj Gori. stopa nenaplate je uključena u dozvoljeni prihod za snabdijevanje u Srbiji a stopa povrata u Ukrajini. dok se profit priznaje u regulsane prihode od snabdijevanja u BJR Makedoniji. . Bosni i Hercegovini. obično ne automatski. Na kraju. cijeli iznos naknade troška se prenosi na potrošače. Štaviše. neke druge naknade ili takse. . Na svim ostalim istraženim tržištima krajnji rok za ukidanje regulisanih cijena za krajnjeg korisnika za domaćistva je 1 januar 2015 a za mala preduzeća u nekim slučajevima čak i ranije. u nekim zemljama postoji i definicija zadanog snabdjevača (Bosna i Hercegovina i Hrvatska za domaćinstva). 53 . Turskoj i Ukrajini implementacija regulisanih cijena za domaćinstva i mala preduzeća nema vremensko ograničenje. Generalno. već na zahtjev regulisanih sbadjevača (u nekim slučajevima svake godine). U Albaniji. ovo rezultira i u naknadama u finalnim cijenama. U sektoru za električnu energiju odobrenje nenaplativog duga je uključeno u dozvoljeni prihod u Albaniji. U sektoru za gas. BJR Makedoniji. Moldaviji iTurskoj (uHrvatskoj i Bosni i Hercegovini ona se vidi na računu za električnu enertgiju) i u tarifi za organizaciju i poslovanje tržišta u BJR Makedoniji. UNIVERZALNE USLUGE –ZADANI SNABDJEVAČ –OBAVEZA PRUŽANJA JAVNIH USLUGA Specifično za električnu energiju. pružanje univerzalnih usluga ili izvršavanje obaveza pružanja javnih usluga u smislu implementacije regulacije cijene za krajnjeg korisnika je u mnogim slučajevima ograničena u vremenu. 4. regulatorna naknada je uključena implicitno (ne vidi se na računu) u sve tarife na svim analiziranim tržištima (u Srbiji samo u tarifu za prenos). u tarifu za snabdijevanje u Bosni i Hercegovini. Hrvatskoj. . Srbiji i Ukrajini (samo za kompanije gdje je uvedena podsticajna regulacija). kao što su naknade za finansiranje regulatornih agencija ili podršku obnovljivih izvora energije.

please explain below)       2. please provide reference below:       4. Are there regulatory accounting guidelines/rules applicable for tariff regulation? Yes No If yes.e. please provide below criteria for recognition of OPEX in the dozvoljeni prihod i. what costs are defined as justified/non- 54 . Are all operation and maintenance costs from the statutory accounting recognized in the dozvoljeni prihod? Yes No If no. Type of implemented regulation: Cost plus Revenue cap Price cap Other (if implemeted. Length of regulatory period:       3.APPENDIX Questionnaire GAS PRENOS 1.

do you implement benchmarking procedures? Yes. please provide percentages for all companies. Has the regulator the right to re. are there some costs predefined as controllable and non-controllable. for OPEX and CAPEX (TOTEX) No If yes. parametric (COLS. In case of incentive based regulation. for total OPEX Yes.evaluate assets if deems necessary? Yes No If yes. SFA) or non- parametric (DEA.dimensional or multi- dimensional.       6. under what circumstances and what methodology may be used? 55 . SDEA). for controllable part of OPEX Yes. are there pre- determined limits for certain costs:       5. justified. please provide explanation of the implemented benchmarking methodology (whether it is uni. When determining the cost efficiency (X factor). other?)       7. what is the percentage of the currently applied efficiency factor? Please also clarify whether this is yearly based information or it refers to total efficiency factor for the whole regulatory period? Is efficiency factor sector based or individual (company based)? If individual.

56 .g.ante? Yes No 11. what methodology has been used (historic costs. other)?:       9. Have assets been re. Are assets under construction included in the RAB? Yes No If yes.evaluated in the process of tariff regulation? Yes No If yes. Does the regulator monitor the implementation of investment plan? How does it influence RAB ex-post? Yes No       12. replacement costs. Does the regulator approve investment plans ex.       8. What are the criteria for including or not including certain assets in the RAB? What is the legal background for this?       10. please explain how are they included e.

)       15. Are the assets funded by capital contributions (e.g. please explain:       If depreciation method differs for old and new (for the regulatory period).line depreciation Accelerated depreciation Other If other. Please provide the lista asset lives of the most important assets (pipes. Does the regulator define asset lives for the regulatory purposes? Yes No 16. please explain how it is evaluated):       13. connection charges) included in RAB? Yes No Please provide brief explanation of the approach: 57 . only ex.ante (as a way of incentivizing investments. compressor stations.post (when assets in use) or ex. if applied. etc. assets please explain:       14. Depreciation method implemented Straight.

Is working capital included in RAB? Yes No If yes. Is depreciation of assets funded by capital contributions recognized in the dozvoljeni prihod? Yes No Please provide brief explanation of the approach:       18. Are intangible assets included in RAB? Yes No Please provide brief explanation of the approach:       19. please explain how it is calculated: 58 .       17.

Please complete the Tabelas below. if applicable: Gearing WACC (real.g. In case of regulatory period longer than 1 year.       20. please explain the approach:       22. how do you treat RAB during the regulatory period (e. Rate of return calculated as: WACC Other If other. are there any automatic adjustments or yearly based revision?)       21. (debt/ Return on Return pre-tax) (debt+equity) equity on debt ) % % % % 59 .

please explain which revenues. for both technical and commercial losses (including the lista information the regulator requires from the prenos company):       25. beta coefficient and market return:       Please explain below how is return on equity and/or return on debt calculated.       60 . When calculating prenos tariffs. how do you determine quantities taken into consideration? Please provide legal reference to this.       29. if any. but performed by using regulated asset base) that are deducted from the dozvoljeni prihod? If yes. if applicable:       24. How is the price for allowed losses determined?       27. What kind of stranded costs. Beta Risk free rate Market return coefficient % % % Please explain how do you determine risk free rate. Please provide the currently allowed percentage(s) of losses in the prenos network:       26. both technical and commercial. if not by using CAPM for Re and company’s weighted debt for Rd:       23. Are there any revenues prenos system operator earns (i. revenues from non- regulated activities.e. are recognized in the dozvoljeni prihod and to what extent are they recognized? Please provide relevant criteria       28. Please describe the procedure and criteria for recognizing losses in the dozvoljeni prihod for prenos. Please provide the definition of losses recognized in the dozvoljeni prihod.

but also by comparing planned and realized costs Other Please provide legal reference:       Please explain briefly the applied criteria and the method of calculation:       61 .30. After expiry of a regulatory period. how do you calculate correction of the dozvoljeni prihod (the amount of over/under –recovery that is to be compensated in the next regulatory period)? Only by taking into consideration actual quantities transported Taking into consideration actual quantities.

Type of implemented regulation: Cost plus Revenue cap Price cap Other (if implemented. Are all operation and maintenance costs from the statutory accounting recognized in the dozvoljeni prihod? Yes No If no.e. are there some costs predefined as controllable and non-controllable. Are there regulatory accounting guidelines/rules applicable for tariff regulation? Yes No If yes. Length of regulatory period:       3. please explain below)       2. please provide reference below:       4. are there pre- determined limits for certain costs:       5. what costs are defined as justified/non- justified. In case of incentive based regulation. please provide below criteria for recognition of OPEX in the dozvoljeni prihod i. what is the percentage of the currently applied efficiency factor? Please also clarify whether this is yearly based information or it refers to total efficiency factor for the whole regulatory period? Is 62 .DISTRIBUCIJA 1.

do you implement benchmarking procedures? Yes. SDEA). for OPEX and CAPEX (TOTEX) No If yes. Have assets been re. under what circumstances and what methodology may be used?       8.       6. When determining the cost efficiency (X factor). Has the regulator the right to re. parametric (COLS. please provide percentages for all companies. please provide explanation of the implemented benchmarking methodology (whether it is uni. for total OPEX Yes. for controllable part of OPEX Yes.evaluated in the process of tariff regulation? Yes 63 . efficiency factor sector based or individual (company based)? If individual.evaluate assets if deems necessary? Yes No If yes. other?)       7. SFA) or non- parametric (DEA.dimensional or multi- dimensional.

post (when assets in use) or ex. please explain how it is evaluated):       64 . No If yes.ante (as a way of incentivizing investments. only ex.ante? Yes No 11. if applied. Does the regulator approve investment plans ex.g. what methodology has been used (historic costs. Does the regulator monitor the implementation of investment plan? How does it influence RAB ex-post? Yes No       12. What are the criteria for including or not including certain assets in the RAB? What is the legal background for this?       10. Are assets under construction included in the RAB? Yes No If yes. replacement costs. other)?       9. please explain how are they included e.

Depreciation method implemented: Straight. Is depreciation of assets funded by capital contributions recognized in the dozvoljeni prihod? 65 . Does the regulator define asset lives for the regulatory purposes? Yes No 16.):       15. Please provide the lista asset lives of the most important assets (pipes. please explain:       14.13. connection charges) included in RAB? Yes No Please provide brief explanation of the approach:       17. Are the assets funded by capital contributions (e. please explain:       If depreciation method differs for old and new (for the regulatory period) assets.g. etc.line depreciation Accelerated depreciation Other If other. compressor stations.

please explain how it is calculated:       66 . Are intangible assets included in RAB? Yes No Please provide brief explanation of the approach:       19. Is working capital included in RAB? Yes No If yes. Yes No Please provide brief explanation of the approach:       18.

are there any automatic adjustments or yearly based revision?)       21. Please complete the Tabelas below.20.g. (debt/ Return on Return pre-tax) (debt+equity) equity on debt ) % % % % Beta Risk free rate Market return coefficient 67 . Rate of return calculated as: WACC Other If other. how do you treat RAB during the regulatory period (e. In case of regulatory period longer than 1 year. if applicable: Gearing WACC (real. please explain the approach:       22.

for both technical and commercial (including the lista information the regulator requires from the distribucija company):       25. % % % Please explain how do you determine risk free rate. please explain which revenues.       29. revenues from non. When calculating distribucija tariffs. please provide all):       26. but performed by using regulated asset base) that are deducted from the dozvoljeni prihod? If yes. Please provide the definition of losses. are recognized in the dozvoljeni prihod and to what extent are they recognized? Please provide relevant criteria       28. how do you determine quantities taken into consideration? Please provide legal reference to this. Please provide the currently allowed percentage(s) of losses in the distribucija network (if allowed differently for different companies.       68 . Please describe the procedure and criteria for recognizing losses in the dozvoljeni prihod for distribucija. both technical and commercial. What kind of stranded costs. Are there any revenues distribucija system operator earns (i. recognized in the dozvoljeni prihod:       24. How is the price for allowed losses determined?       27. if not by using CAPM for Re and company’s weighted debt for Rd:       23.e.regulated activities. if any. beta coefficient and market return:       Please explain below how is return on equity and/or return on debt calculated.

30. After expiry of a regulatory period. how do you calculate correction of the dozvoljeni prihod (the amount of over/under –recovery that is to be compensated in the next regulatory period)? Only by taking into consideration actual quantities distributed Taking into consideration actual quantities. but also by comparing planned and realized costs Other Please provide legal reference:       Please explain briefly the applied criteria and the method of calculation:       69 .

what is the percentage currently allowed:       If yes.collection recognized in the final regulated price of gas? Yes No If yes. please provide the criteria for their recognition:       3. How is the change in commodity cijene treated in the final price regulation? Is there some kind of automatic mechanism applied? Please provide also legal reference to this:       70 .SUPPLY (if regulated) 1. Please provide definition (list) of supply service costs recognized in the final regulated price of gas:       2. how is this allowance determined (what are the criteria implemented)?       4. Is non. Are bad debts recognized in the final regulated price of gas? Yes No If yes.

OTHER:

1. Are the costs for financing the regulatory institution included in tariff?

Yes
No

If yes, please explain in what tariff(s):

     

If yes, please explain how it is determined (please provide legal
reference)

     

71

ELEKTRIČNA ENERGIJA
PRENOS

1. Type of implemented regulation:

Cost plus
Revenue cap
Price cap
Other (if implemeted, please explain below)

     

2. Length of regulatory period:      

3. Are there regulatory accounting guidelines/rules applicable for tariff regulation?

Yes
No

If yes, please provide reference below:

     

4. Are all operation and maintenance costs from the statutory accounting
recognized in the dozvoljeni prihod?

Yes
No

If no, please provide below criteria for
recognition of OPEX in the dozvoljeni prihod
i.e. what costs are defined as justified/non-
justified, are there some costs predefined as
controllable and non-controllable, are there pre-
determined limits for certain costs:

     

5. In case of incentive based regulation, what is the percentage of the currently
applied efficiency factor? Please also clarify whether this is yearly based
information or it refers to total efficiency factor for the whole regulatory period? Is

72

efficiency factor sector based or individual (company based)? If individual, please
provide percentages for all companies.

     

6. When determining the cost efficiency (X factor), do you implement benchmarking
procedures?

Yes, for controllable part of OPEX

Yes, for total OPEX

Yes, for OPEX and CAPEX
(TOTEX)

No

If yes, please provide explanation of the
implemented benchmarking methodology
(whether it is uni- dimensional or multi-
dimensional; parametric (COLS, SFA) or non-
parametric (DEA, SDEA), other?)

     

7. How are the costs related to reactive power treated when calculating dozvoljeni
prihod?

     

8. Has the regulator right to re- evaluate assets if deems necessary?

Yes
No

If yes, under what circumstances and what
methodology may be used?

     

73

post (when assets in use) or ex. if applied. please explain how are they included e. Have assets been re. What are the criteria for including or not including certain assets in the RAB? What is the legal background for this?       11. replacement costs.ante? Yes No 12. please explain how it is evaluated): 74 . Are assets under construction included in the RAB? Yes No If yes. other)?       10. only ex. Does the regulator approve investment plans ex. what methodology has been used (historic costs.9.ante (as a way of incentivizing investments. Does the regulator monitor the implementation of investment plan? How does it influence RAB ex-post? Yes No       13.g.evaluated in the process of tariff regulation? Yes No If yes.

please explain:       If depreciation method differs for old and new (for the regulatory period) assets. substations.line depreciation Accelerated depreciation Other If other. etc. Does the regulator define asset lives for the regulatory purposes? Yes No 17.g. Are the assets funded by capital contributions (e. Depreciation method implemented Straight. Please provide the lista asset lives of the most important assets (network.       14. connection fees) included in RAB? Yes No Please provide brief explanation of the approach:       75 .)       16. please explain:       15.

Is working capital included in RAB? Yes No If yes. Is depreciation of assets funded by capital contributions recognized in the dozvoljeni prihod? Yes No Please provide brief explanation of the approach:       19.18. please explain how it is calculated:       76 . Are intangible assets included in RAB? Yes No Please provide brief explanation of the approach:       20.

(debt/ Return on Return pre-tax) (debt+equity) equity on debt ) % % % % 77 . if applicable: Gearing WACC (real. Please complete the Tabelas below. are there any automatic adjustments or yearly based revision?)       22. how do you treat RAB during the regulatory period (e.21. Rate of return calculated as: WACC Other If other. In case of regulatory period longer than 1 year.g. please explain the approach:       23.

revenues from congestion) that are deducted from the dozvoljeni prihod? If yes. beta coefficient and market return:       Please explain below how is return on equity and/or return on debt calculated. When calculating prenos tariffs. Please provide the currently allowed percentage(s) of losses in the prenos network:       27. 78 .g. how do you determine quantities taken into consideration? Please provide legal reference to this. What kind of stranded costs.e. for both technical and commercial (including the lista information the regulator requires from the prenos company):       26. but performed by using regulated asset base. if applicable:       25. Beta Risk free rate Market return coefficient % % % Please explain how do you determine risk free rate. e. if any. How is the price for allowed losses determined?       28. please explain which revenues. Please describe the procedure and criteria for recognizing losses in the dozvoljeni prihod for prenos.       30. Are there any revenues prenos system operator earns (i. revenues from non- regulated activities. Please provide the definition of losses recognized in the dozvoljeni prihod. are recognized in the dozvoljeni prihod and to what extent are they recognized? Please provide relevant criteria.       29. if not by using CAPM for Re and company’s weighted debt for Rd:       24. both technical and commercial.

After expiry of a regulatory period. are recognized in the dozvoljeni prihodand how? Please provide relevant criteria (type of ancillary services and unit cijene)       79 . if any. but also by comparing planned and realized costs Other Please provide legal reference:       Please explain briefly the applied criteria and the method of calculation:       32. how do you calculate correction of the dozvoljeni prihod (the amount of over/under –recovery that is to be compensated in the next regulatory period)? Only by taking into consideration actual quantities transported Taking into consideration actual quantities.       31. What kind of ancillary services costs.

Length of regulatory period:       3.e. Are there regulatory accounting guidelines/rules applicable for tariff regulation? Yes No If yes. please explain below)       2. Type of implemented regulation: Cost plus Revenue cap Price cap Other (if implemented. Are all operation and maintenance costs from the statutory accounting recognized in the dozvoljeni prihod? Yes No If no. please provide below criteria for recognition of OPEX in the dozvoljeni prihod i. are there pre- determined limits for certain costs:       5. are there some costs predefined as controllable and non-controllable. please provide reference below:       4. Do allowed costs include cost of reserves? Yes No 80 . what costs are defined as justified/non- justified.DISTRIBUCIJA 1.

      7. please provide explanation of the implemented benchmarking methodology (whether it is uni. When determining the cost efficiency (X factor). please provide the percentage for several representative companies.dimensional or multi- dimensional. Has the regulator right to re. 6. How are the costs related to reactive power treated when calculating dozvoljeni prihod?       9. what is the percentage of the currently applied efficiency factor? Please also clarify whether this is yearly based information or it refers to total efficiency factor for the whole regulatory period? Is efficiency factor sector based or individual (company based)? If individual. for total OPEX Yes. do you implement benchmarking procedures? Yes. In case of incentive based regulation. for controllable part of OPEX Yes.evaluate assets if deems necessary? Yes No If yes. under what circumstances and what methodology may be used? 81 . for OPEX and CAPEX (TOTEX) No If yes. other?)       8. parametric (COLS. SDEA). SFA) or non- parametric (DEA.

what methodology has been used (historic costs.evaluated in the process of tariff regulation? Yes No If yes. other)?:       11.       10.ante? Yes No 13. Are assets under construction included in the RAB? Yes No 82 . replacement costs. Have assets been re. Does the regulator monitor the implementation of investment plan? How does it influence RAB ex-post? Yes No       14. Does the regulator approve investment plans ex. What are the criteria for including or not including certain assets in the RAB? What is the legal background for this?       12.

if applied. etc. Does the regulator define asset lives for the regulatory purposes? Yes No 18. only ex.ante (as a way of incentivizing investments. please explain:       16. please explain how are they included e. please explain how it is evaluated):       15.post (when assets in use) or ex.line depreciation Accelerated depreciation Other If other. substations.g.):       17. connection charges) included in RAB? 83 . Are the assets funded by capital contributions (e. Depreciation method implemented: Straight. If yes. Please provide the lista asset lives of the most important assets (network. please explain:       If depreciation method differs for old and new (for the regulatory period) assets.g.

Is depreciation of assets funded by capital contributions recognized in the dozvoljeni prihod? Yes No Please provide brief explanation of the approach:       20. Yes No Please provide brief explanation of the approach:       19. Are intangible assets included in RAB? Yes No Please provide brief explanation of the approach:       21. Is working capital included in RAB? 84 .

please explain how it is calculated:       22. Yes No If yes. if applicable: 85 . please explain the approach:       24. are there any automatic adjustments or yearly based revision?)       23.g. Rate of return calculated as: WACC Other If other. In case of regulatory period longer than 1 year. how do you treat RAB during the regulatory period (e. Please complete the Tabelas below.

What kind of stranded costs. are recognized in the dozvoljeni prihod and to what extent are they recognized? Please provide relevant criteria       86 . please provide all):       28. (debt/ Return on Return pre-tax) (debt+equity) equity on debt ) % % % % Beta Risk free rate Market return coefficient % % % Please explain how do you determine risk free rate. Please provide the currently allowed percentage(s) of losses in the distribucija network (if allowed differently for different companies. if any. beta coefficient and market return:       Please explain below how is return on equity and/or return on debt calculated. Gearing WACC (real. recognized in the dozvoljeni prihod:       26. Please provide the definition of losses. if not by using CAPM for Re and company’s weighted debt for Rd:       25. both technical and commercial. Please describe the procedure and criteria for recognizing losses in the dozvoljeni prihod for distribucija. for both technical and commercial (including the lista information the regulator requires from the distribucija company):       27. How is the price for allowed losses determined?       29.

how do you calculate correction of the dozvoljeni prihod (the amount of over/under –recovery that is to be compensated in the next regulatory period)? Only by taking into consideration actual quantities distributed Taking into consideration actual quantities. but performed by using regulated asset base) that are deducted from the dozvoljeni prihod? If yes.       31. After expiry of a regulatory period.e.regulated activities.       32. revenues from non. but also by comparing planned and realized costs Other Please provide legal reference:       Please explain briefly the applied criteria and the method of calculation:       87 . please explain which revenues. how do you determine quantities taken into consideration? Please provide legal reference to this. When calculating distribucija tariffs.30. Are there any revenues distribucija system operator earns (i.

collection recognized in the final regulated price of električna energija? Yes No If yes. what is the percentage currently allowed:       If yes. Please provide definition (list) of supply service costs recognized in the final regulated price of električna energija:       2. Is non.SUPPLY (if regulated) 1. How is the change in commodity cijene treated in the final price regulation? Is there some kind of automatic mechanism applied? Please provide also legal reference to this:       88 . how is this allowance determined (what are the criteria implemented)?       4. please provide the criteria for their recognition:       3. Are bad debts recognized in the final regulated price of električna energija? Yes No If yes.

Does your legislation recognize default supplier and the supplier of last resort: Default supplier: Yes No Supplier of last resort: Yes No 2.) Other 5.UNIVERSAL SERVICE82 1. Indicate if your legislation specified a methodology for universal service: For default supplier: Yes No For the supplier of last resort: Yes No 4. Which end-use customers have the right to resort to the default supplier/supplier of last resort (tariff): Households Small enterprises All customers Share of households under default tariff (of total households):      % 3. Which institution in your country is the price setting authority (for regulated retail cijene): NRA Ministry (of Economy etc. How is commodity (energy) that is sold by the retailers to the consumers at regulated tariff as universal service procured: 82 As described in Article 3(3) of Directive 2003/54/EC 89 .

Power exchange Bilateral contracts Competitive procurement (auctions) Combination Other (please specify) Indicate the share of energy procured:       % (power exchange)       % (bilateral contracts)      % (auctions)      % (other) 6. Do you have proposed time schedule for abandoning of the regulated price for households and small enterprises: No Yes Indicate the year (for example in 2017): 90 . The case in which default or supplier of last resort is applicable: Customer non-payment Customer cannot find a supplier Supplier going bankrupt Customer does not choose a supplier Expired contract Other: Please indicate the reason:       8. What is the time limit for the supply under the last resort service: For default supplier: No time limit Time limit: Indicate the time limit:      weeks 7.

for households      for small enterprises      91 .

please explain how it is determined (please provide legal reference)       2. please explain how it is determined (please provide legal reference)       92 .OTHER: 1. please explain in what tariff(s):       If yes. Is RES support allowance included in tariff? Yes No If yes. Are the costs for financing the regulatory institution included in tariff? Yes No If yes. please explain in what tariff(s):       If yes.