The ASC has issued amendments to SFRS(I) 9 and SFRS(I) 7 (and FRS 109 and FRS 107) for contracts that reference electricity from sources such as wind and solar.
What changes
- Clarifies when such contracts can qualify for the “own-use” exemption.
- Allows hedge accounting where these contracts are used as hedging instruments.
- Adds disclosures on the effects of these contracts.
Effective date
Annual reporting periods beginning on or after 1 January 2026.