EFRAG publishes feedback statement on the IASB's Exposure Draft Contracts for Renewable Electricity

Following the publication of its Draft Comment Letter, EFRAG received and considered 12 comment letters and participation in an outreach event. The subsequent feedback statement published today summarises constituent's feedback and explains how the feedback received was considered by EFRAG in reaching the positions reflected in the final comment letter.

​The IASB published its Exposure Draft Contracts for Renewable Electricity (proposed amendments to IFRS 9 and IFRS 7) (ED) on 8 May 2024.

Following discussions with its working groups and technical experts, EFRAG’s draft comment letter (DCL) was published on 13 June 2024 with the request to constituents to provide their feedback by 15 July 2024.

In total twelve comment letters were received and considered. In addition to the comment letters received, EFRAG participated in a joint outreach event held on 4 July 2024 together with the IASB, ASCG (Accounting Standards Committee of Germany) and AFRAC (Austrian Financial Reporting Advisory Committee).

EFRAG issued its final comment letter (FCL) on 31 July 2024. The final comment letter remained overall consistent with the draft comment letter expressing EFRAG’s support of the direction of the IASB’s proposals geared towards a narrow-scope application, addressing both own-use exception requirements and hedge accounting requirements.

Today's feedback statement summarises constituent's feedback, including responses to EFRAG’s draft comment letter and findings from outreach activities. It explains how the feedback received was considered by EFRAG in reaching the positions reflected in the final comment letter.