Assets and liabilities are measured at amortised cost in all cases with the exception of certain financial assets, liabilities and instruments which IAS 39 (2008) requires to be measured at fair value and where this can be reliably determined. Non-current receivables and debt are recognised at present value. Assets and liabilities are netted where the relevant requirements are met. Assets and liabilities with different dates of transaction and financial performance are recognised as of the transaction dates. Income and expenses derived from assets or liabilities are recognised under earnings from operations or net interest expenses depending on the respective balance sheet item. Period deferrals are accounted for where necessary. Such items are recognised directly in equity where International Accounting Standards so require and are presented separately in the statement of changes in equity.

The underlying principles of recognition and measurement applied when preparing the consolidated financial statements of the MVV Energie Group are set out below.