FeReSO, the FEBEG Reconciliation and Settlement Organisation was created as a private foundation on 16th October 2010.
FeReSO acts as the joint appointee on behalf of the energy suppliers and distribution grid operators in executing the financial reconciliation for the Belgian gas and electricity market.
All FeReSO’s tasks and competences are determined in the ‘Financial Reconciliation Contract’ for gas and electricity with regards to distribution in Brussels, Flanders and Wallonia. This contract came into force on 21st October 2010, and has been extended to the reconciliation volume year 2020.
Up to date, more than 100 organisations have entered into this agreement.
Reconciliation is a process which follows the allocation process. The objective is to compare the volume that has been assigned to a supplier during the allocation process with the actual consumption. This comparison is made based on the meter readings from the end consumer (in general collected once a year). This difference is used to settle the final energy consumption correctly between suppliers.
Reconciliation is a volume correction per supplier, calculated over a period of one calendar month. By means of the reconciliation process, suppliers get ‘assigned’ ultimately the energy volumes as read on their customers’ meters.
The market parties have agreed to implement a common model for the reconciliation volume calculation for the three regions. The principles of the new volume process are described in a UMIR document(link is external), approved by the market parties and the respective regional regulators.
As a central settlement facilitator, FeReSO is responsible for the operational framework of the financial reconciliation. The activities of FeReSO are defined and controlled by the Management committee, with membership consisting of all energy suppliers and grid operators.
The main operational activities of FeReSO are: