BBCE has launched a solution that will transform how the electricity sector settles energy contracts. In a simple, digital way and based on customer research, the company is launching BBCE Financial Settlement.
Until now, in the free market, the first business days of the month – known as short-term – required extensive mapping with several parties and many hours of work to make and, furthermore, monitor numerous transfers. Now, companies prepare a settlement report with the other counterparties that contract BBCE's service, analyze the information and the amounts will be settled with a single transfer.
Based on the fact that one company has to pay and receive from the other, BBCE stated that it provides a true meeting of accounts using Banco Bradesco, which will act as a Settlement Agent for the parties involved.
If a company needs to pay (to a debtor), it will deposit, on the 5th business day, a net difference in Bradesco, in a single transfer. However, if the company has amounts to receive (to a creditor), it will receive, on the 6th day, the net difference in its account at that bank, also in a single transfer.
According to Camila Batich, CEO of BBCE, the new feature will contribute to a new dynamic in the energy market. “As a result, the market gains transparency, operational security and efficiency,” she explained.
The initiative is part of a broader project by companhia with the aim of providing solutions that contribute to the security of energy businesses. “Last year, we launched EHUB supervision, which allows us to monitor 100% of businesses and apply assessments, gradually, in atypical situations and unfair practices on this platform. With the settlement, we take another step towards contributing to transparency in the sector”, said Camila.
“BBCE is committed to being a source of liquidity, transparency and security for energy businesses, so our innovations do not stop there. We are working on standards for calculating risk in our environments, tools for managing guarantees, among other innovations”, he added.
She highlighted that BBCE Financial Settlement was tested with a group of clients in two pilots. “In the last pilot test alone, the total amount to be settled between participants, which would be R$68 million, was reduced to R$15 million, which significantly mitigates settlement risks. And this efficiency can be further increased with the opening of this product to the entire market,” she concluded.
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