Publication Details
Abstract
Revenue, trade receivables and tariff-related balances of a regulated electricity distributor are usually treated as separate accounting topics, although they arise in one cycle: a tariff is set, electricity is delivered and billed, and the bill is settled. This article builds a tariff–revenue–settlement model with nine decision points drawn from IFRS 15, IFRS 9, IAS 20, IFRS 20 and Uzbek tariff rules, and applies it to the published statements of two state-owned Uzbek network companies. In 2025, Regional Electric Networks JSC reported revenue of UZS 50.30 trillion while its electricity purchases from related parties equaled 84.3% of revenue, so revenue is 6.4 times the spread left after purchases; its allowance covered 72.0% of gross trade receivables. After electricity sales and purchases were transferred to the central purchaser in 2024, the gross trade receivables of National Electric Grid of Uzbekistan JSC fell by 83.2%. The results suggest that the market-model stage should be decided first, that collectability changes the receivable far more than revenue, and that each tariff variance needs a named recoverer. Three testable propositions are stated; the evidence covers two companies over a short period.