Home

INTERCONNECTION CAPACITY ACCESS RULES for the

1. Invoice address Postal address Zip code Place Country Authorized representa tive s Page 37 of 50 We confirm to the Auction Office that the above information is true Authorized representative Signature Date Page 38 of 50 ANNEX V Greek Participation Letter of Guarantee for Yearly Auction Participation Letter of Guarantee for Yearly Auction Payable on First Demand No of euro To HELLENIC TRANSMISSION SYSTEM OPERATOR HTSO 11 Amfitheas Avenue 171 22 Nea Smyrni Attica Greece Sirs We hereby guarantee expressly irrevocably unconditionally and unreservedly as principal debtors to yourselves Hellenic Transmission System Operator hereinafter called HTSO waiv ing any benefit of division and excussion beneficimum excussionis for our part only in favor of the company under the name eseeeeeeeeeeeeees the registered office of which are at filetervortoertiexianesens hereinafter called the Client with tax registration number T payment of an amount up to euro at least 20 of the total amount of Client s Bid up to which we undertake to pay to you HTSO for the participation of our Client to the Auction for the Allocation and Assignment of Physical Transmission Rights hereinafter called PTRs to use interconnection capacity for electricity transfers from Greece X Country to X Country Greece
2. Interconnection Capacity Price Price expressed in euro payable by a PTR Holder as a result of the successful Bid in the Auction being Clearing Price allocated PTR number of hours this PTR refers to Interconnection Capacity Cross border electric energy transfer capacity on the interconnection between Greece and X Country Letter of Guarantee Monthly Auction Irrevocable unconditional and unreserved guar antee issued by a Bank legally operating in a member state of the European Union The Greek Bank Guarantee is subject to Greek law and Athens Courts jurisdiction PTR auctioning for the respective following month for the first semester of 2007 Monthly Interconnection Capacity Part of Interconnection Capacity to be allocated in the Monthly Auction in form of PTRs Net Transfer Capacity NTC The maximum exchange program between two control areas compatible with security standards applicable in both areas and taking into account the technical uncertainties on future network conditions Nomination Notification to HTSO by a PTR Holder of his schedules relating to the power expressed in integer value of MW which the PTR Holder wants to use within the capacity defined by the PTRs awarded to him Notification File File transmitted to HTSO by a PTR Holder in the context of Secondary PTR Market Physical Transmission Right PTR Right to use Interc
3. Section V Determination of Auction results Article 5 01 Awarding of PTRs Yearly Monthly and Daily Auctions from X Country to Greece imports to Greece HTSO classifies all valid Bids as follows Case 1 If the sum of all Bids submitted for a given Auction is equal to or less than the AUIC no Clearing Price is charged to the PTR Holder Case 2 If the sum of all Bids submitted for a given Auction strictly exceeds the AUIC a Clearing Price is charged to the PTR Holder For this purpose the Bids are sorted out by the prices offered starting with the highest price and ending with the lowest one The requested Interconnection Capacities set in the Bids are added up Up to the Bid marginal Bid which represents the level above which the sum of the Interconnec tion Capacity requested by the Users strictly exceeds the AUIC each User receives the Intercon nection Capacity requested at the price of this marginal Bid in form of a PTR clearing price The remaining Interconnection Capacity is allocated to the marginal Bid If the AUIC is reached with several Bids of the same price the remaining Interconnection Capacity is distributed pro rata in proportion to the requested Interconnection Capacity set in the Bids The Capacities allocated are rounded down to the nearest MW The Clearing Price determined according to the above principle is used as a basis for calculating the charges for Interconnection Capacity Price and apply to all PTR
4. offers desmie gr Any Auction of PTRs for electricity transfers in both directions i e from Greece to X Country and from X Country to Greece may be discontinued or interrupted by HTSO before the award of PTRs at any time without prior notice either in case of technical failures of the auction tool platform per forming the auction or in case of instructions taken from the responsible Auction Operator e g change of capacity allocation method Such discontinuance or interruption of the Auction proceed ings in force will not affect the PTRs allocated and assigned in previous Auctions Article 2 04 Interconnection Capacity for auctioning 1 The ATC for imports to Greece is jointly determined by HTSO and the TSO of X Country in accordance with applicable laws and regulations The ATC for exports from Greece to X Country is determined by the HTSO taking into ac count the total export capability of the Greek power system The AUIC under these Auction Rules is published on the HTSO Auction Website A Secondary PTR market operates in both directions Users will be timely informed by publication on the HTSO Auction Website of the AUIC for each Auction Article 2 05 Basis on which Interconnection Capacity is offered 1 PTRs are offered in units of 1 MW with a minimum of 1 unit 2 For Yearly and Monthly Auctions PTRs are offered in certain time periods within a year and a month respectively during which a certain amount
5. Bid submission mechanism is based on the encryption of the submitted bid in two phases submission a of the encrypted bid and b of the encryption key as described in detail in the Electronic Web Offer Submission System User s Manual which is available in the HTSO Auction Website as follows i Gate opening for the submission of the encrypted bid file pgp 10 00 12 00 ii Silence period 12 00 12 10 iii Gate opening for the submission of the encryption key file asc 12 10 12 Only those Bids submitted by Users which meet the requirements of the Auction Rules in particular those of Article 4 04 and Article 4 05 shall be considered in the Auction The results of the Auctions are announced in the Auction Website no later than 02 00 pm on the D 2 The above time schedules may be modified by HTSO via Auctions Specifications The PTRs allocated by HTSO in the Daily Auctions will be subject to the use it or lose it UIOLI principle Article 4 04 Format of Bids and Bid limitations 1 Bids are submitted by Users according to the following Article 4 05 within the deadline of the Auction defined in these Auction Rules 18 N In Yearly Monthly and Daily Auctions each User may submit a Bid File with a maximum of 10 Bids 3 Each User has the possibility to resubmit the Bid File until the deadline for submission of Bids in accordance with Article 4 02 and Article 4 03 In this case submission of multipl
6. Guarantee for the due and punctual payment of its financial obligations arising from its participation to the Greek Power Market for energy exports from Greece Said Letter of Guarantee is not a prerequisite for the participation to the Auctions for the Allocation and As signment of PTRs or their award Article 7 02 Usage of PTRs The use of Allocated Capacities operates via the delivery of fixed schedules to HTSO in compli ance with the legal requirements of grid access in each control area Modalities for the use of allocated capacities are described in the following paragraphs Article 7 03 Use of Yearly Monthly and or Daily PTRs In order to use PTRs Allocated via Yearly Monthly and or Daily Auctions the PTR Holder must nominate the capacity to HTSO as follows HTSO before 11 00 D 1 The nomination to HTSO is binding for PTR Holder and his Counterparty Modifications of schedules after this time are not possible Use is generally based on the principle use it or lose it 8 where D is the Day of Execution 27 Section VIII Settlement Payment Article 8 01 Interconnection Capacity Prices for PTRs The User is required to pay HTSO for Capacities Allocated at Auctions even if the Capacities are Resold or Transferred by the User on the Secondary Capacity Market The Interconnection Capacity Prices will be billed invoiced and accrued by late payment interest by HTSO The PTR Holder is required to pay HTSO f
7. Holders The PTR Holders are not obliged to use the PTR purchased in the Auctions from X Country to Greece the respective Interconnection Capacity Price however must be paid at any rate once PTR has been allocated PTRs are considered to have been awarded to a PTR Holder at the moment that PTR Holder has been informed by HTSO b Yearly Monthly and Daily Auctions from Greece to X Country exports from Greece The results of the Auction are determined for all Greek Interconnections for each time period as follows There is one clearing process for all Greek Interconnections with its neighbouring countries Italy Albania FYROM and Bulgaria There are five constraints 1 one per Interconnection latcexi reflecting the AUIC of each Interconnection and 2 one corresponding to the sum of all exports from Greece Sartcex reflecting the total maxi mum available capacity that could be exported from Greece The accepted bids for Assignment of Capacity are classified by descending order of Bid prices irrespective of the Interconnection they refer to In the Auction clearing process the Bids with the highest Bid prices taken one at a time from the above classification are summed defining five different sums as follows 1 one for each Interconnection Sum i and 2 one by aggregating the requested Capacity Total Sum irrespective of the Interconnec 21 tion it corresponds to In each step a Bid of the requ
8. any analogous situation arising from a relevant procedure under the laws of the State where the participant has its registered offices Page 33 of 50 5 we are not the subject of proceedings for a bankruptcy or b an order for compulsory winding up or c administration by the Court or d an arrangement with creditors or e any other similar proceedings under the laws of the State where the participant has its registered offices 6 we are registered market participants in the Greek power market with a valid Sup ply Producer Eligible Customer License No 0eeeees We also hereby declare that there is no condition under the laws of the State where the par ticipant has its registered offices which prevents us from participating in the Auctions and meeting our obligations in respect thereof and that the administrative members of our entity do not fall in the cases mentioned in Directive 2006 17 article 54 paragraph 4 We hereby declare that we will provide all securities and guarantees required by the Auction Rules We expressly authorize you to publish the name of our company in case of allocation assignment of Physical Transmission Rights PTRs and the related quantity of PTRs assigned We undertake to directly inform you in case of any change occurred in the company s status as declared herein Name and Position said document should be signed by the lega
9. bank IN WITNESS WHEREOF the present guarantee was signed on 200 Issuer s signature Page 46 of 50 ANNEX IX Transfer Notification for PTRs Notification of Transfer NoT SUBMISSION DATE 28 12 2006 Transfer Unique Code defined by HTSO Transferor Name Transferor EIC Code Beneficiary Name Beneficiary EIC Code Origin control area EIC Code Destination control area EIC Code Date from 01 01 2007 Date to 01 01 2007 From hour CET To hour CET Capacity for transfer MW 0 00 1 00 Page 47 of 50 ANNEX X Resale Notification for PTRs Notification of Resale NoR Resale Unique Code defined by HTSO Capacity Owner EIC Code Origin control area EIC Code Destination control area EIC Code Date from 01 01 2007 Date to 01 01 2007 0 00 1 00 1 00 2 00 2 00 3 00 3 00 4 00 4 00 5 00 5 00 6 00 6 00 7 00 7 00 8 00 8 00 9 00 9 00 10 00 10 00 11 00 11 00 12 00 12 00 13 00 13 00 14 00 14 00 15 00 15 00 16 00 16 00 17 00 17 00 18 00 18 00 19 00 19 00 20 00 20 00 21 00 21 00 22 00 22 00 23 00 23 00 0 00 Page 48 of 50 ANNEX XI Public Greek holidays 2007 Date Day Public holiday 01 01
10. compulsory administration or any other relevant procedure or in case that our Client is granted any benefits or sets off any claim against you All the provisions of the present undertaking will retain their full effect irrespective of any change in the financial or legal status of our Client The present guarantee and all matters arising from it are subject to Greek law and by this present our bank unconditionally and unreservedly submits to the Athens Courts jurisdiction In case of total or partial forfeiture of this guarantee the amount is subject to a fixed gov ernment stamp fee which is to be paid by our Client By this present we hereby declare that the amount of the present guarantee does not exceed the limit set by the law for our bank IN WITNESS WHEREOF the present guarantee was signed on 200 Issuer s signature Page 44 of 50 ANNEX VIII Greek Participation and Good Performance Let ter of Guarantee for Daily Auctions Participation and Good Performance Letter of Guarantee for Daily Auctions Payable on First Demand No Of EUFO To HELLENIC TRANSMISSION SYSTEM OPERATOR HTSO 11 Amfitheas Avenue 171 22 Nea Smyrni Attica Sirs We hereby guarantee expressly irrevocably unconditionally and unreservedly as prin cipal debtors to yourselves Hellenic Transmission System Operator hereinafter called HTSO waiving any benefit of division and excussion beneficimum excuss
11. following receipt of the respec tive invoice issued by HTSO The PTR Holder should settle the respective invoice by the twenty fifth day of the calendar month following the month that the Daily Auctions took place The initial Participation and Good Performance Letter of Guarantee for Daily Auctions should be submitted twenty four 24 hours before the 00 00 hours of the first day of the Auction period The Participation and Good Performance Letter of Guarantee for Daily Auctions should be valid until the last day of the calendar month following last month of the Auction period and if the invoice settlement has taken place as stated above then it is returned by HTSO to the PTR Holder In case payments are not made as specified above the Participation and Good Performance Letter of Guarantee for Daily Auctions is forfeited During the two calendar months period HTSO has the right to request the replacement of the Par ticipation and Good Performance Letter of Guarantee for Daily Auctions with another having the same wording covering a higher amount in case that the Interconnection Capacity Price owed by the PTR Holder for the allocated Interconnection Capacity is higher than the estimated one or in case of total or partial forfeiture of the Letter of Guarantee 15 Section IV Auction proceedings Article 4 01 Auctions Specification For general information the following auction specifications are published on the Auction Websites The Auct
12. indisputable decision is absolutely obligatory for ourselves and we hereby undertake to pay immediately on your demand any stipulated sum or sums not exceeding the aggregate amount of SAY free from interest costs and ancillary charges as per your instructions without demanding our Client s authorization con sent or any other action and without having the right to take into consideration any eventual opposition objection or exception raised by our Client whom we warranted and waiving all rights of ours in general deriving from Articles 853 855 862 863 867 and 868 of the Greek Civil Code We shall discharge our above Client of this guarantee upon the return of this letter of guaran tee and your written instructions to this effect and in any case the present guarantee is valid until its expiration period lasting until 20 1 20 the 20 day of January of the calendar year for which the Yearly Interconnection Capacity is auctioned whichever is soonest at which point it shall lapse and shall not give rise to any obligation on our part unless you HTSO have re quested in writing that all or part of it is forfeited before it expires Modification or removal of factual or legal relations or links that may exist as of this day between us and our Client may not release us from the present guarantee Our obligation aris ing by the present guarantee will remain valid and we will not be released from our obligations arising from this gu
13. of PTRs Article 5 02 Publication of Auction results Article 5 03 Deadline for contesting results Section VI Secondary PTR Market Article 6 01 PTR Transfers Article 6 02 PTR Resale Article 6 03 Secondary PTR Market downgraded mode o oA A fF FB BR BP BP A N KR WK NY WK KY KW N SB m m Fe SF N Fe eB Pe N ee ee ee eS Se aA un Fk R WO KYO Fee OO DH DANI ABA ADA WB WS WwW WwW KH F FB CO CO CS Article 6 04 Cancellation of an Auction Section VII Capacity usage rules Article 7 01 Notification of the Counterparty Article 7 02 Usage of PTRs Article 7 03 Use of Yearly Monthly and or Daily PTRs Section VIII Settlement Payment Article 8 01 Interconnection Capacity Prices for PTRs Article 8 02 Reductions of Capacity Allocated at Yearly and or Monthly Auctions Article 8 03 Exclusion of Set off Section X Miscellaneous Article 9 01 Information Notices Article 9 02 Limitation of Liability Article 9 03 Confidentiality Article 9 04 Severability Article 9 05 Applicable Law and Disputes Article 9 06 Force Majeure Article 9 07 Amendment of Rules 26 27 27 27 27 28 28 29 31 31 31 31 31 32 32 32 Section Introduction 1 01 General Context In accordance with Regulation EC n 1228 2003 of the European Parliament and of the Council of 26 June 2003 on conditions for access to the network for cross border exchanges in electricity as it applies the present Auction Rules set out the terms an
14. on the second working day proceeding the day of Execution the Trans fer Notification refers to Upon receiving a Transfer Notification HTSO shall verify that the Transferor and the Beneficiary comply with the eligibility and registration requirements described in Section III of the Auction Rules up to the end of the transfer period the Transferor is effectively the PTR Holder of the PTR to be transferred as a result of the Transfer Notification the Transfer Notification deadline as defined above for PTRs Transfer has not been ex ceeded 24 the Transferor has settled or secured any of its financial obligations to HTSO the Transferor and the Beneficiary have notified the transfer of the same amount of Capacity for each hour of the transfer period HTSO shall send confirmation of acceptance of the transfer application to both interested parties namely the Transferor and the Beneficiary electronically HTSO shall explain to both interested parties by e mail any refusal of transfer application The transfer becomes effective when HTSO forwards its confirmation HTSO is not obliged to examine the rightful transfer between the Transferor and the Beneficiary In any case after confirmation of the transfer application by HTSO any disputes arising from dis agreements between the Transferor and the Beneficiary do not affect the validity of the transfer Article 6 02 PTR Resale a Characteristics of PTR Resale PTR
15. send a new file repeating his Resale Notification which incorporates HTSO s comments and bears the same Resale Notification code and which cancels and replaces the previous file This new Resale Notification must not exceed the deadline for Resale Notification For information purposes HTSO takes approximately half an hour to respond to the Reseller fol lowing a Resale Notification except in case of downgraded mode A Reseller may ask HTSO to cancel a Resale Notification The cancellation is accepted provided that the cancellation notification respects the same deadline as a Resale Notification for the same period An accepted Resale Notification may be replaced by a new one provided that the new Resale Notification fulfils all the requirements set in this Article Article 6 03 Secondary PTR Market downgraded mode When downgraded mode is adopted Transfer Notification and Resale Notification are effectuated by fax Date and time mentioned in the fax received by HTSO are deemed authentic As a last resort adoption of downgraded mode in response to unplanned unavailability of the In formation system may result in the Secondary PTR Market being suspended The suspension shall not give rise to any indemnification Article 6 04 Cancellation of an Auction If an Auction relating to Secondary PTR Market is cancelled e Fora PTR Resale at a Monthly Auction the Reseller may regain the PTR and thus cancel the PTR Resale If however th
16. the transaction Transferor and Beneficiary to HTSO as per paragraph c of the present Article The beneficiary has to meet the eligibility and registration requirements described in Section Ill of these Auction Rules Capacity obtained in Daily Auctions cannot be transferred The PTRs Transferred must be indicated without taking account of any programmed curtailment such as those described in Article 2 06 HTSO reserves the possibility of applying the conditions defined in Article 2 06 in the event of cur tailments Each PTR Holder is only allowed to transfer PTRs in Block or Blocks of a Product that have been defined in the Yearly and or Monthly Auctions Each PTR Holder can transfer a part of or the entire quantity of PTRs of a Product obtained in the Yearly and or Monthly Auctions or by a previous transfer b Financial arrangements The Transferor remains responsible for payment of the Interconnection Capacity Price for the PTRs Transfers without any additional fee In case of curtailment eventual indemnification according Article 2 06 shall be in favour of the Beneficiary c Transfer Notification In case a PTR Holder wishes to transfer a certain block or blocks of the entire or part of a product for more than one day he should submit only one Transfer Notification for the specified time period A Transfer Notification of PTRs must only be electronically submitted to HTSO using the form given in ANNEX IX before 07 00
17. 2007 Monday New Year s Day 06 01 2007 Saturday Epiphany 19 02 2007 Monday National festive day Kathari Deftera 25 03 2007 Sunday Greek Independence 06 04 2007 Friday Good Friday 09 04 2007 Monday Easter Monday 01 05 2007 Tuesday Labour Day 15 08 2007 Wednesday Virgin Mary day 28 10 2007 Sunday National festive day 06 12 2007 Thursday Saint Nick HTSO festive day 25 12 2007 Tuesday Christmas Day 26 12 2007 Wednesday Christmas second day Page 49 of 50 ANNEX XII HTSO Downgraded mode Downgraded mode for Daily Auctions If HTSO is unable to hold Daily Auctions under the standard conditions stipulated HTSO notifies the Users of the switch to Downgraded mode and indicates the Auction Specifications it being understood that exception ally the Daily Product will consist of a single Block from 0 00 00 to 23 59 59 for the given Day the Users submit by fax a Bid file including a single Bid for the Auction Page 50 of 50
18. Hellenic Transmission System Operator S A INTERCONNECTION CAPACITY ACCESS RULES for the Interconnection Greece Country X North Interconnection AUCTION RULES 2007 1 As Country X is Albania or Fyrom or Bulgaria Section I Introduction 1 01 General Context 1 02 Auction Procedure 1 03 General aspects of Auction Rules 1 04 Legal qualification of the awarding of PTRs pursuant to an Auction 1 05 Collection of debts waiver of right to offset Section II General Article 2 01 Definitions Article 2 02 Yearly Monthly and Daily Auctions Article 2 03 The Auction proceedings Article 2 04 Interconnection Capacity for auctioning Article 2 05 Basis on which Interconnection Capacity is offered Article 2 06 Firmness of PTRs Article 2 07 Guarantee of schedules Article 2 08 Auction Website Article 2 09 Conduct of Users Article 2 10 Currency Article 2 11 Timing Section III Participation requirements Article 3 01 Eligibility requirements for participation in the Auctions Article 3 02 Registration requirements Article 3 03 Provision of letter of guarantees bank guarantee Section IV Auction proceedings Article 4 01 Auctions Specification Article 4 02 Yearly and Monthly Auctions Article 4 03 Daily Auctions Article 4 04 Format of Bids and Bid limitations Article 4 05 Submission of Bids for Yearly Monthly and Daily Auctions Section V Determination of Auction results Article 5 01 Awarding
19. Holder of yearly PTRs is required to replace his Participation Letter of Guarantee for the Yearly Auction with a Good Performance Letter of Guarantee for Yearly Auction ANNEX VI that covers the total payment of its Interconnection Ca pacity Price In case the Good Performance Letter of Guarantee for Yearly Auction is not duly sub mitted the Participation Letter of Guarantee for Yearly Auction is forfeited and the Yearly Intercon nection Capacity that was allocated to the User is considered by HTSO as capacity available for allocation in each of the subsequent Monthly Auctions 13 The PTR Holder who has duly submitted a Good Performance Letter of Guarantee for Yearly Auc tion is expected to pay the Interconnection Capacity Price in three equal instalments each instal ment representing a 2 month period following receipt of the respective invoices issued by HTSO Each instalment is paid by the PTR Holder at the latest on the fifth working day of the beginning of the respective 2 month period After each instalment payment the PTR Holder has the right to replace the Good Performance Let ter of Guarantee for Yearly Auction held by HTSO with a new one that covers the remaining amount that he owes for the Yearly Interconnection Capacity awarded to him In case payment is not made as specified above the Good Performance Letter of Guarantee for Yearly Auction is for feited The Good Performance Letter of Guarantee for Yearly Auction must be vali
20. TRs from Greece to X Country and from X Country to Greece and Users accept by participating in the Auctions that 4 they can only be discharged of their debts through payment to HTSO and that payment of a debt to any other entity will not release them from this obligation Users waive the right to offset any debts that arise in connection with an Auction to claims that those Users have on HTSO whether or not arising out of an Auction see Article 8 03 Section Il General Article 2 01 Definitions Auction Operator HTSO operates the Auction of PTRs for AUIC from Greece to X Country and from X Country to Greece HTSO is referred to as Auction Operator Auction Specifications Information on the Auction provided on the Auc tion Websites Auction Tool IT system used to receive Bids from Users process them and return the results of the Auc tion Auction Website Auction Website of HTSO referred to in Article 2 08 of these Auction Rules A Yearly Monthly or Daily Auction held under these Auction Rules Auctioning Day All calendar days on which Auctions take place Bids can be submitted on this day Auctioning Interconnection Capacity AUIC Available Transmission Capacity ATC Interconnection Capacity auctioned by HTSO in the Yearly Monthly and Daily Auctions carried out under these Auction Rules in the Greek X Country Interconnection in both directions im ports and
21. alid until its expiration period lasting until twenty 20 days after the pay ment of the final installment of the price owed for the allocated PTRs whichever is soonest at which point it shall lapse and shall not give rise to any obligation on our part unless you HTSO have requested in writing that all or part of it is forfeited before it expires Modification or removal of factual or legal relations or links that may exist as of this day between us and our Client may not release us from the present guarantee Our obligation aris ing by the present guarantee will remain valid and we will not be released from our obligations arising from this guarantee in case that our Client is declared bankrupt or under liquidation or under dissolution or in case of compulsory administration or any other relevant procedure or in case that our Client is granted any benefits or sets off any claim against you HTSO All the provisions of the present undertaking will retain their full effect irrespective of any change in the financial or legal status of our Client The present guarantee and all matters arising from it are subject to Greek law and by this present our bank unconditionally and unreservedly submits to the Athens Courts jurisdiction In case of total or partial forfeiture of this guarantee the amount is subject to a fixed gov ernment stamp fee which is to be paid by our Client By this present we hereby declare that the am
22. and Saturday and the whole Sunday with the exception of the announced scheduled maintenance program which is published in the HTSO Auction Web site and according to the Greek power system exporting capability c Daily Product hourly Blocks Auctions time table Interconnection Capacity Gate openings and closures Timeframe for results publication 3 HTSO could change this period due to unforeseen events 4 HTSO could change this period due to unforeseen events gt HTSO could change this period due to unforeseen events HTSO could change this period due to unforeseen events 16 Deadline to contest results Other information Some information provided with the Auction Specification may be modified during the year and updated on the HTSO Auction Website Article 4 02 Yearly and Monthly Auctions Yearly and Monthly Auctions for the allocation of the yearly and monthly AUICs in direction from Greece to X Country and the allocation of yearly and monthly AUICs in direction from X Country to Greece will be performed by HTSO Timetables for Yearly and Monthly Auctions will be displayed in the Auction Website Yearly Auctions a Yearly AUIC_is published on the Auction Websites two 2 working days before the yearly auc tioning day Dy at the latest b deadline for bid submission for awarding Yearly AUIC at 12 30 on Dy The Bid submission mechanism is based on the encryption of the submitted bid in two p
23. arantee in case that our Client is declared bankrupt or under liquidation or under dissolution or in case of compulsory administration or any other relevant procedure or in case that our Client is granted any benefits or sets off any claim against you HTSO All the provisions of the present undertaking will retain their full effect irrespective of any change in the financial or legal status of our Client The present guarantee and all matters arising from it are subject to Greek law and by this present our bank unconditionally and unreservedly submits to the Athens Courts jurisdiction In case of total or partial forfeiture of this guarantee the amount is subject to a fixed gov ernment stamp fee which is to be paid by our Client By this present we hereby declare that the amount of the present guarantee does not exceed the limit set by the law for our bank IN WITNESS WHEREOF the present guarantee was signed on 200 Issuer s signature Page 40 of 50 ANNEX VI Greek Good Performance Letter of Guarantee for Yearly Auction Good Performance Letter of Guarantee for Yearly Auction Payable on First Demand No 5 Of CUIO cece ee eee To HELLENIC TRANSMISSION SYSTEM OPERATOR HTSO 11 Amfitheas Avenue 171 22 Nea Smyrni Attica Greece Sirs We hereby guarantee expressly irrevocably unconditionally and unreservedly as principal debtors to yourselves Hellenic Transmission System Op
24. bmission of the encrypted bid file pgp 10 00 12 00 ii Silence period 12 00 12 10 17 Gate opening for the submission of the encryption key file asc 12 10 12 30 c deadline for publication of monthly auction results 18 00 on Dm The results of the Auctions are announced in the HTSO Auction Website Only those Bids submitted by Users which meet the requirements of the Auction Rules in particu lar those of Article 4 04 and Article 4 05 shall be considered in the Auction The above time schedules may be modified by HTSO via Auctions Specifications Article 4 03 Daily Auctions HTSO will perform the allocation of the AUIC from X Country to Greece and from Greece to X Country 5 days a week a Daily AUIC is published on the HTSO Auction Website at 10 00 am on the D 2 taking into account The Monthly or Yearly Interconnection Capacity to be resold via Secondary PTR Market The Monthly or Yearly Interconnection Capacity which has not been Nominated Daily Auctions are held at 12 30 of the second day preceding the Day of Execution D 2 Thursday for the following Saturday and Sunday Friday for the following Monday and Tuesday The exact process for the submission of Bids for the Daily Auctions is described in detail in the Electronic Bid Submission System of HTSO which is available in the HTSO Auction Website deadline for bid submission to HTSO as Auction Operator before 12 30 on the D 2 The
25. cated PTRs In consideration of the aforementioned guarantee we hereby promise and undertake the obligation to pay immediately and in the latest within three days to you HTSO upon receipt of your simple written demand without contesting it or raising any objections whatsoever any amount up to the maximum of SAY to which our guarantee is limited and which according to your unlimited and indisputable judgment would have been set as owed to you HTSO due to total or partial forfeiture of this guarantee in the event of failure by our Client to respect all or any of its obligations with regard to the Auction Rules Your above indisputable decision is absolutely obligatory for ourselves and we hereby undertake to pay immediately on your demand any stipulated sum or sums not exceeding the aggregate amount of SAY free from interest costs and ancillary charges as per your instructions without demanding our Client s authorization consent or any other action and without having the right to take into considera Page 41 of 50 tion any eventual opposition objection or exception raised by our Client whom we war ranted and waiving all rights of ours in general deriving from Articles 853 855 862 863 867 and 868 of the Greek Civil Code We shall discharge our above Client of this guarantee upon the return of this let ter of guarantee and your written instructions to this effect and in any case the present guar antee is v
26. d conditions governing the allocation of the Auctioning Interconnection Capacity hereinafter called AUIC in both directions on the Greek X Country interconnection Said Rules regulate all matters concerning a the yearly auctions related to imports to Greece the monthly auctions related to imports and exports and the daily auctions related to imports and exports for the period from 1 January 2007 until 30 June 2007 and b the yearly auctions related to exports from Greece for the period from 1 January 2007 until 31rst December 2007 The AUIC is offered by HTSO in form of Physical Transmission Rights PTRs 1 02 Auction Procedure HTSO acting as an Auction Operator hereinafter called HTSO or Auction Operator allocates the AUIC for electricity transfers from Greece to X Country and from X Country to Greece All relevant information is made available on the Auction Website according to Article 2 08 1 03 General aspects of Auction Rules These Auction Rules describe among other aspects the requirements that Users must fulfil to participate in the Auctions the various types of Auctions the Auction proceedings the awarding of PTRs the conditions to access Secondary PTR Market and the AUIC usage rules These Auction Rules in particular are handling the allocation of Yearly Monthly and Daily AUICs in both directions Due to the fact that there is limited production Capacity in the Greek power system a different A
27. d in hours of full curtailment as follows equivalent full curtailment hours partial curtailment hours x Capacity curtailment Capac ity without curtailments An equivalent full curtailment which is more than half an hour and less than an hour is con sidered as one hour of full curtailment In case the equivalent full curtailment lasts less than 2 HTSO could change this period due to unforeseen events 10 half an hour it will not be considered as a Capacity curtailment counting towards the above mentioned guaranteed period of 35 equivalent days 2 For Daily Auctions PTRs are offered on a firm basis except for the cases where curtailments are necessary due to circumstances that constitute Force Majeure HTSO guarantees that no PTR curtailments will take place Article 2 07 Guarantee of schedules 1 The PTRs allocated through Auctions from Greece to X Country and from X Country to Greece are firm except during the maintenance periods allowed up to 35 equivalent days and in case of Force Majeure 2 HTSO guarantees the realisation of the exchange programmes corresponding to firmly allo cated PTRs except in cases of Force Majeure and during the maintenance periods Article 2 08 Auction Website HTSO maintains a website for Auctions On this Auction Website the following are published a These Auction Rules and any alterations thereof b announcements pursuant to these Rules c The Greek holi
28. d until twenty 20 days after the day of payment of the third final instalment then it is returned to the PTR Holder by HTSO subject to the condition that all financial obligations of the PTR Holder in respect of the Yearly Auction have been settled Monthly Auction Users have to submit a Participation Letter of Guarantee for the Monthly Auction ANNEX VII cov ering at least 20 of the total amount of their Bid twenty four 24 hours before the deadline of submission of Bids for each Monthly Auction in order to participate in each Monthly Auction The Participation Letter of Guarantee for the Monthly Auction shall remain valid until the fifth working day of the calendar month for which Monthly AUIC is auctioned Upon publication of the Monthly Auction results the PTR Holder is expected to pay the Intercon nection Capacity Price following receipt of the respective invoice issued by HTSO The PTR Holder should settle the respective invoice by the end of the calendar month in which it was is sued In case that payment is not made as specified above the Participation Letter of Guarantee for Monthly Auction is forfeited and the Monthly Interconnection Capacity that was allocated to the User is considered by HTSO as capacity available for allocation in each of the subsequent Daily Auctions The Participation Letter of Guarantee for the Monthly Auction is returned by HTSO to the PTR Holder subject to the condition that all financial obligat
29. days within the calendar year 2007 see ANNEX XI d Auction Specifications e The submitted Notifications of transfer and resale with indication as per their acceptance or not by HTSO f Names fax and telephone number s e mail address es of contact persons of the HTSO g Maintenance Period allowed up to 35 equivalent days per year h formats of documents related to the Auction to be downloaded and used by Users i Net Transfer Capacities NTC values on the Greek X Country interconnection j results of an Auction Clearing Price the name of the PTRs holder and the related quantity of PTRs assigned in respect of ANNEX 1 k aggregated Nominations curtailments for scheduled maintenance and due to occurrence of events and circumstances unforeseeable in the long term m indicative calendars for Yearly and Monthly Auctions n list of the Users who are eligible and registered o any other relevant information Article 2 09 Conduct of Users 1 Prior to during and after an Auction Users must refrain from any action or behaviour which adversely affects or threatens to adversely affect competition in the bidding proceedings or which aims at gaming or which in any other way disrupts or threatens to disrupt the Auction proceedings or the transparency cost effectiveness or fairness thereof Article 2 10 Currency Financial securities price settlement and payments in respect of the Auction as well as financial i
30. depending on the auction imports or exports from Greece at the time pe riod starting from and ending on as per the terms described in the In terconnection Capacity Access Rules hereinafter called the Auction Rules published in the HTSO Auction Website copies of which were delivered to us and by this present we confirm their receipt The subject guarantee is valid until such time as our Client honors all its obligations arising from the Auction Rules as regards our Client s participation and the latest until the twentieth 20 day of January of the calendar year for which the Yearly Interconnection Capacity is auctioned In consideration of the aforementioned guarantee we hereby promise and undertake the obligation to pay immediately and in the latest within three days to you HTSO upon receipt of your simple written demand without contesting it or raising any objections whatsoever any amount up to the maximum of SAY to which our guarantee is limited and which according to your unlimited and indisputable judgment would have been set as owed to you HTSO due to total or partial forfeiture of this guarantee in the event of failure by our Client to respect all or any of its obligations with regard to its participa tion as described in the Auction Rules or because of the non furnishing of the good perform ance guarantee in case PTRs are awarded to our Client Page 39 of 50 Your above
31. e Monthly Auction is scheduled for a later date then the Resale Notifi cations are conserved e For a PTR Resale at a Daily Auction the PTR Resale is definitively lost The Reseller then receives indemnification up to 100 of the Clearing Price of the Auction at which the PTR was acquired 26 Section VII Capacity usage rules Article 7 01 Notification of the Counterparty Notification of the PTR Holders Counterparty to HTSO is needed for the Nomination consistency check The PTR Holder designates his Counterparty as described in the following points a Ifthe PTR Holder is a registered market participant in the X Country s power market and at the same time is a registered market participant in the Greek power market then the PTR Holder can designate himself as an interconnection User on both ends of the Interconnec tion A to A nomination b Ifthe PTR Holder is not a registered market participant in the X Country s power market however being a registered market participant in the Greek power market then the PTR Holder must designate one or more User s who is are registered market participants in the X Country s power market as a Counterparty ies on the X Country s end of the Inter connection A to N nomination For electricity transports carried out in the frame of the internal Greek power market any PTR Holder registered in the Greek Power Market has among others the obligation to file to the HTSO a Letter of
32. e subsequent Bid Files by the same User the most recent Bid File with respect to the corresponding deadline is considered for acceptance 4 Each Bid concerns capacity in units of 1 MW with a minimum of 1 unit and a maximum equal to the AUIC for each period of time 5 Each Bid must contain the following unambiguous and legible specifications a The value of the Bid in MWh maximum two decimals b The amount in Blocks of integer quantity MW minimum 1 MW of the required Intercon nection Capacity 6 The most recent Bid is unconditional and irrevocable In case a Bid does not fully comply with the above rules it is considered unacceptable and it is ignored during the Auction clearing process All Bids should state the name and EIC code of the User the submission date the Day of Execu tion the Interconnection on which Interconnection Capacity is requested and the direction on this Interconnection in which Interconnection Capacity is requested Article 4 05 Submission of Bids for Yearly Monthly and Daily Auctions The Bids for the Yearly Monthly and the Daily Auctions must be submitted using the appropriate forms which could be downloaded from the HTSO Auction Website Such Bids shall be submitted using the Electronic Bid Submission System of HTSO which consists of a a secure web site for the submission of Bids that guarantees transparency of the process b encryption of the Bids using the PGP public key enc
33. ed or construed to mean or deal with electricity trans ports or any rights liabilities or financial aspects pertaining to electricity transports 6 HTSO does not assume responsibility for the submission of Bids in time nor warrants although HTSO will use its best endeavours to prevent that the information contained therein despite being treated as confidential will not be disclosed to any third party Article 9 03 Confidentiality 1 HTSO shall treat all information disclosed pursuant to these Auction Rules as confidential and they will refrain from disclosing such information to any third party without the prior consent of the User concerned 2 Paragraph 1 shall not apply to disclosure of information to European Union institutions governmen tal regulatory authorities and competent court or arbitrators insofar as such disclosure is mandatory nor to the disclosure of information to a judicial authority or an arbitrator insofar as such disclosure is ordered by the court or the arbitrator or is necessary for supporting a claim or for defending themselves against a claim Article 9 04 Severability If any part of these Rules is by a public authority or court found to be invalid illegal or unenforceable the remaining part shall continue to be valid and enforceable to the extent permitted by law Page 31 of 50 Article 9 05 Applicable Law and Disputes 1 Any dispute arising out of or in connection with these Auction Rule
34. eration of the aforementioned guarantee we hereby promise and undertake the obligation to pay immediately and in the latest within three days to you upon receipt of your simple written demand without contesting it or raising any objections whatsoever any amount up to the maximum of SAY to which our guarantee is limited and which according to your unlimited and indisputable judgment would have been set as owed to you due to total or partial forfeiture of this guarantee in the event of failure by our Client to respect all or any of its obligations with regard to the Auction Rules Page 45 of 50 Your above indisputable decision is absolutely obligatory for ourselves and we hereby undertake to pay immediately on your demand any stipulated sum or sums not exceeding the aggregate amount of SAY free from interest costs and ancillary charges as per your instructions without demanding our Client s authorization consent or any other action and without having the right to take into considera tion any eventual opposition objection or exception raised by our Client whom we war ranted and waiving all rights of ours in general deriving from Articles 853 855 862 863 867 and 868 of the Greek Civil Code We shall discharge our above Client of this guarantee upon the return of this let ter of guarantee and your written instructions to this effect and in any case the present guar antee is valid until its expiration period lastin
35. erator hereinafter called HTSO waiving any benefit of division and excussion beneficimum excussionis for our part only in favor of the company under the name 6 eeeeeeeeee ee eens the registered offices of which are at 0 0eee eee hereinafter called the Client with tax registration num Der who has been awarded Physical Transmission Rights to use interconnec tion capacity for electricity transfers from Greece X Country to X Country Greece depending on the auction imports or exports from Greece hereinafter called PTRs as a result of the Yearly Auction referring to the period starting from and ending on hereinafter called the Auction for the due punctual and in conformity with the terms described in the In terconnection Capacity Access Rules hereinafter called the Auctions Rules published in the HTSO Auction Website payment of the Interconnection Capacity Price by our Client reaching the amount of euro cco cecean cs tsdesaceneatedesenecesaastandst EE euro up to which we undertake to pay to you HTSO for the allocated PTRs to our Client by the Auction copies of which were delivered to us and by this present we confirm their receipt The subject guarantee is valid until such time as the Client honors all its obligations aris ing from the Auction Rules and the latest until twenty 20 days after the payment of the final installment of the price owed for the allo
36. ested Capacity with the next highest Bid price according to the above classification is added into the appropriate sums both in the appropriate Sumg i and in the Total Sum and each sum is compared against the corresponding constraint latcexi or Satcex a If the sum Sum i for each Interconnection is equal to or less than the relative latcexi and at the same time the Total Sumex is equal to or less than the Sartcex no constraint is active the Clearing Price for each Interconnection is equal to Zero Sumexi lt latcexi for i 1 2 3 and4 AND Total SuMex lt Satcex b If the constraint Satcex is activated before the individual constraints of each Interconnection Sumexi lt latcexi for i 1 2 3 and 4 AND Total Sumex gt Satcex then all the Bids with price higher than the Bid that was lastly added are allocated to the corresponding Bidder s and from the lastly added Bid only the part that does not exceed the remaining Capacity is allocated to the corresponding Bidder 1 Incase that the lastly added Capacity is not a single block but two or more due to the fact that Bidders have submitted Bids of the same price the available or the remaining Capac ity will be awarded in proportion to the Capacity involved in the Bids of these Bidders in units of at least one MW 2 Capacity is provided at the price of the last MW that is served due to insufficient auc tioned capacity Clearing Price which is the marginal price of Capacit
37. exports AUIC is set at 50 of ATC in the direction X Country Greece imports to Greece and at 100 of ATC in the direction Greece X Country export from Greece Part of the NTC that remains available after each phase of the allocation procedure for fur ther commercial activity which shall be offered in the Yearly Monthly and Daily Auctions Beneficiary A User that acquires a PTR as a result of a PTR Transfer Bid A Bid in euro per MWh for a PTR submitted by a User for a Yearly Monthly or Daily Auction which complies with the requirements of these Auction Rules Bid File File including all Bids submitted by a User for a given Auction in electronic form Block A quantity of MW made available at Auction over Clearing Price a range of hourly periods and or a range of days Price expressed in Euro per MWh charged to PTR Holders for PTRs resulting from an Auc tion Counterparty Refers to a legal entity designated by the PTR Holder Beneficiary as his counterparty according to the Auction Rules Daily Auction PTR auctioning for each hour of the respective following day for the first semester of 2007 Daily Interconnection Capacity Part of the Interconnection Capacity to be allo cated in the Daily Auction in form of PTRs Day of Execution Day on which electricity transports using the PTR obtained in an Auction take place
38. g until the last day of the calendar month follow ing the last month of the Auctions Period whichever is soonest at which point it shall lapse and shall not give rise to any obligation on our part unless you have requested in writing that all or part of it is forfeited before it expires Modification or removal of factual or legal relations or links that may exist as of this day between us and our Client may not release us from the present guarantee Our obligation aris ing by the present guarantee will remain valid and we will not be released from our obligations arising from this guarantee in case that our Client is declared bankrupt or under liquidation or under dissolution or in case of compulsory administration or any other relevant procedure or in case that our Client is granted any benefits or sets off any claim against you All the provisions of the present undertaking will retain their full effect irrespective of any change in the financial or legal status of our Client The present guarantee and all matters arising from it are subject to Greek law and by this present our bank unconditionally and unreservedly submits to the Athens Courts jurisdiction In case of total or partial forfeiture of this guarantee the amount is subject to a fixed gov ernment stamp fee which is to be paid by our Client By this present we hereby declare that the amount of the present guarantee does not exceed the limit set by the law for our
39. h would be held to be unenforceable the liability of HTSO shall be limited to direct damages only and will not include consequential damages and in such case HTSO shall not be liable for damages which exceed the aggregate amount of 100 000 euro per claim 2 HTSO will provide the PTRs awarded by the Auction within the scope of their possibilities This provi sion is subject to the technical possibility of transmitting electricity which can be affected by Force Ma jeure unexpected external influences e g extreme load flow changes or other serious operational condi tions that do not constitute a force majeure 3 HTSO does not guarantee completion of the Auction The Auction may be postponed interrupted or cancelled especially in the event of technical problems with the Auction process without any obligation of HTSO to compensate the Users 4 HTSO shall only be liable for any direct damage or loss incurred to Users if it was caused intentionally or by gross negligence or wilful omission of an essential duty set by these Auction Rules in a way putting the conduct of the Auction at risk If HTSO is found liable for the omission of an essential duty under these Auction Rules without gross negligence or intent the liability shall cover also only positive direct dam ages This limitation of liability covers also any damages or losses caused by the gross negligence of em ployees of HTSO 5 In no way shall the Auction results be consider
40. hases submission a of the encrypted bid and b of the encryption key as described in detail in the Electronic Web Offer Submission System User s Manual which is available in the HTSO Auction Website as follows i Gate opening for the submission of the encrypted bid file pgp 10 00 12 00 ii Silence period 12 00 12 10 iii Gate opening for the submission of the encryption key file asc 12 10 12 30 c deadline for publication of yearly auction results at 18 00 on Dy The results of the Auctions are announced in the Auction Website Only those Bids submitted by Users which meet the requirements of the Auction Rules in particu lar those of 4 04 and 4 05 shall be considered in the Auction Monthly Auctions a Monthly AUIC is published on the HTSO Auction Website two 2 working days before the monthly auctioning day Dm at the latest taking into account The Yearly Interconnection Capacity to be resold via Secondary PTR Market The Yearly Interconnection Capacity which has not been nominated b deadline for bid submission for awarding Monthly AUIC 12 30 on Dm The Bid submission mechanism is based on the encryption of the submitted bid in two phases submission a of the encrypted bid and b of the encryption key as described in detail in the Electronic Web Offer Submission System User s Manual which is available in the HTSO Auction Website as follows i Gate opening for the su
41. in form of PTRs Article 2 02 Yearly Monthly and Daily Auctions 1 Separate Auctions are held for PTRs for each direction from Greece to X Country and from X Country to Greece 2 Auctions from Greece to X Country a Yearly Auctions in respect of PTRs for annual electricity transports from 1 January through 31 December 2007 b Monthly Auctions in respect of PTRs for Monthly electricity transports from the first through the last day of a calendar month falling within the first semester of 2007 c Daily Auctions in respect of PTRs for daily electricity transports during each hour of a cal endar day within the first semester of 2007 3 Auctions from X Country to Greece a Yearly Auctions in respect of PTRs concerning the period from 1 January 2007 until 30 June 2007 b Monthly Auctions in respect of PTRs for Monthly electricity transports from the first through the last day of a calendar month within the first semester of 2007 c Daily Auction in respect of PTRs for daily electricity transports during each hour of a calen dar day within the first semester of 2007 Article 2 03 The Auction proceedings HTSO is responsible for conducting the Auctions for the allocation and assignment of the AUIC for electricity transfers from Greece to X Country and from X Country to Greece All related data and information are published on HTSO website HTSO will operate at the following address http Awww desmie gr and http
42. ion Specifications consist of information regarding Products made available for Auctions a Yearly Auction Product X Country to Greece base load covering the period of the first semester of 2007 with the exception of the announced scheduled maintenance program Greece to X Country 1 annual peak hours products 06 00 22 00 CET of the working days and Satur day with the exception of the announced scheduled maintenance program which is published in the HTSO Auction Website and with the exception of some months during the year according to the Greek power system exporting capability 2 annual off peak hours products 00 00 06 00 and 22 00 24 00 of the working days and Saturday and the whole Sunday with the exception of the announced scheduled maintenance program which is published in the HTSO Auction Web site and with the exception of some months during the year according to the Greek power system exporting capability b Monthly Product X_Country to Greece base load with the exception of the announced scheduled maintenance program Greece to X Country 1 monthly peak hours products 06 00 22 00 of the working days and Saturday with the exception of the announced scheduled maintenance program which is published in the HTSO Auction Website and according to the Greek power sys tem exporting capability 2 monthly off peak hours products 00 00 06 00 and 22 00 24 00 of the working days
43. ionis for our part only in favor of the company under the name s the registered offices of which are at cceeeeeeeee ee eee ees hereinafter called the Client with tax registration num Der payment of an amount up to the sum of euro E T ie the sum calculated as per the formula described in article 3 03 paragraph b of the Interconnection Capacity Access Rules up to which we undertake to pay to you HTSO for a the participation of our Client to the Auctions for the Allocation and Assignment of Physi cal Transmission Rights to use interconnection capacity for electricity transfers from Greece X Country to X Country Greece depending on the auction imports or exports from Greece within a period of two calendar months as a result of the Daily Auctions performed from the pe riod starting from 4 and ending on 0 08 hereinafter called the Auctions Period as well as b the compliance of our Client with the terms described in the Interconnection Capacity Access Rules hereinafter called the Auction Rules published in the HTSO Auction Website copies of which were delivered to us and by this present we confirm their receipt The subject guarantee is valid until such time as our Client honors all its obligations aris ing from the Auction Rules and the latest until the last day of the calendar month following the last month of the Auctions Period as per the Auction Rules In consid
44. ions of the PTR Holder in respect of the Monthly Auction have been settled Daily Auctions a In case a User has filed a bid in a Daily Auction while a Good Performance Letter of Guarantee for the Yearly Auction covering payment of the Yearly Interconnection Capacity awarded to him from the Yearly Auction is still valid and covers the estimated Interconnection Capacity Price for his participation in the Daily Auctions for a period of two calendar months then this User is not obliged to submit a new Letter of Guarantee for his participation in the Daily Auction b In all other cases the User should file a Participation and Good Performance Letter of Guaran tee for Daily Auctions as shown in ANNEX VIII which will cover the estimated Interconnection Capacity Price for his participation in the Daily Auctions for a period of two calendar months hereinafter called the Auction period calculated according to the following formula CM Dia where i is the estimated amount of Interconnection Capacity the User shall acquire at the Daily Auctions for each hour of the respective Auction period in MW 14 CM is the Mean value of the Clearing Price per hour of the last two calendar months before the issuance of the Letter of Guarantee for which this figure is reported in the website of HTSO in MWh i hour index covering the respective two calendar month period The Capacity Price is paid by the PTR Holder on a monthly basis
45. l representative of the participant Signature Page 34 of 50 ANNEX Il Contacts of HTSO HTSO Auction Procedures Operational amp Security Department Operational Planning 22 Asklipiou St GR 14568 KRIONERI Telephone 30 210 6294145 Fax 30 210 6220127 Economical issues Department of Economics 11 Amphitheas Avenue GR 171 22 N SMYRNI Telephone 30 210 9466933 Fax 30 210 9466841 IT issues IT Department 11 Amphitheas Avenue GR 171 22 N SMYRNI Telephone 30 210 9466801 Fax 30 210 9466822 Page 35 of 50 ANNEX Ill REQUEST TO PARTICIPATE TO THE AUCTIONS Directions In application of Statement of Acceptance signed between XXX and HTSO wishes to participate in Auctions on the Border Direction s selected below Case 1 _ X Country Greece only Case 2 _ Greece X Country only Case3 _ Greece X Country and X Country Greece Page 36 of 50 ANNEX IV User contact data Initial information Updated information Company name EIC code Postal address Zip code Place Country Telephone number FAX number E mail address Contact person General Telephone number Mobile phone number FAX number E mail address Operational contact Telephone number FAX number E mail address Contact person Financial Telephone number Mobile phone number FAX number E mail address VAT number
46. ly auctioning day Dm see Article 4 02 For Daily Auctions no later than 14 00 D 2 where D is the Day of execution see Article 4 03 If the HTSO Auction Website or the Auction Tool is are unavailable PTR Holders are informed of the results of the Auction via other means of communication 22 Article 5 03 Deadline for contesting results The PTR Holder may contest the Auction results according to the conditions and within the dead line specified in the Auction Specifications HTSO shall reply to the PTR Holder no later than the deadline indicated in the Auction Specifica tions If the PTR Holder does not contest the Auction result within the deadline and under the condition specified in the Auction Specifications the PTR Holder lose the right to contest Objections against the Auction results may be raised electronically by sending respective e mail or fax to HTSO The latter will examine them and the decision with the wording of the objection at tached will be published in the HTSO Auction Website 23 Section VI Secondary PTR Market HTSO operates the Secondary PTR Market from Greece to X Country and from X Country to Greece Article 6 01 PTR Transfers a Characteristics of PTR Transfers PTRs allocated through Yearly and Monthly Auctions or resulting from PTR Transfer may be trans ferred by a Transferor to a Beneficiary provided that the Transfer Notification is electronically sent by both parties involved in
47. n Block or Blocks of the entire or part of a Product for more than one day he should submit only one Resale Notification for the specified time period Resale Notification of PTRs which have been allocated through Yearly Auctions and are going to be resold to a Monthly Auction must be notified to HTSO using the form given in ANNEX X before 07 00 on the second working day before the monthly auctioning day Dm Resale Notification of PTRs which have been allocated through Yearly and or Monthly Auctions and are going to be resold to a Daily Auction must be electronically submitted to HTSO using the form given in ANNEX X before 07 00 on the second working day before the day of Execution re ferred in the Resale Notification Upon receiving a Resale Notification HTSO shall verify 25 That the Reseller complies with the eligibility and registration requirements described in Section Ill of these Auction Rules up to the end of the resale period That the Reseller is effectively the PTR Holder at the time of the Resale Declaration That the Resale Notification deadline as defined above for PTR Resale has not been ex ceeded After receiving this file HTSO sends to the Reseller A message accepting the Resale Notification provided the Resale Notification meets the above criteria or A message to the Reseller detailing the reasons for the rejection if the Resale Notification has been rejected The Reseller may then
48. nformation are made in euro 11 Article 2 11 Timing All timings set in these Auction Rules make reference to the Central European Time CET 12 Section Ill Participation requirements Article 3 01 Eligibility requirements for participation in the Auctions In order to participate in the Auctions the User must be a registered market participant in the Greek power market Article 3 02 Registration requirements 1 User must submit to HTSO the signed and completed statement of acceptance form given in ANNEX I and his contact data as shown in ANNEX IV 2 The statement of acceptance has an undetermined duration notwithstanding the obligation of the User to inform HTSO forthwith of any changes and notwithstanding the right of HTSO to re quest a renewal of the registration and or any document mentioned herein to be submitted 3 By signing the statement of acceptance the User undertakes to comply with all the provisions contained in the Auction Rules 4 The statement of acceptance submitted by each User to HTSO must be signed by the legal representative of the User 5 HTSO publishes in its Auction website the list of the Users who are eligible and registered Any objections against the list shall be submitted electronically according to the conditions and within the deadline specified in the Auction Specifications HTSO examines the submitted objections and publishes its decision in its Auction website Ar
49. of PTRs is offered 3 For Daily Auctions PTRs are offered on an hour by hour basis Article 2 06 Firmness of PTRs 1 For Yearly and Monthly Auctions PTRs are offered on a firm basis except for the cases where curtailments are necessary due to circumstances that constitute Force Majeure sched uled maintenance of the interconnection or for securing the safety of the network operation No return payment will be effected to the PTR Holder in case of Force Majeure and in case of scheduled maintenance of the interconnection which is published in the HTSO Auction Web site In case of PTR curtailments due to 1 an extension in the scheduled maintenance period referred to in the previous paragraph or 2 an unplanned disconnection of the interconnection or 3 network security reasons HTSO will return to the PTR Holder 100 of the total payments effectuated for the hours of curtailed PTRs PTRs acquired through Monthly Auctions are curtailed on a pro rata basis If more curtailments are required PTRs acquired through Yearly Auctions are curtailed on a pro rata basis as well HTSO guarantee that the PTR curtailments will not last more than thirty five 35 equivalent days 35 x 24 equivalent full curtailment hours as defined below Capacity curtailments shall have as reference a time period of one hour In case of a partial curtailment on an interconnection the time period of such a curtailment is re calculate
50. on for dam age suffered due to the non performance or faulty performance of all or part of their obligations when such non performance or faulty performance is due to an event of Force Majeure The Party which invokes a Force Majeure event shall make every possible effort to limit the conse quences and duration of the event If a Force Majeure Event lasts for more than thirty 30 Days either Party may terminate its participation to Auction Rules by sending a registered mail with acknowledgement of receipt if the event adversely affects the essential obligations of the Parties under the present Auction Rules Article 9 07 Amendment of Rules These Rules are subject to the technical and legal conditions at the time of their creation If these condi tions change materially in particular due to legal requirements action by authorities or Rules imposed by the regulatory authority and or agreements between the associations of the electricity industry at national or international level or if the auctioning process is enhanced the rules will be amended Subject that the Users have not notified HTSO of their will to terminate the Statement of Acceptance such amended rules will become effective upon publication by HTSO in the Auction Website after consulting with the Users and approval by the Regulatory body if necessary Page 32 of 50 ANNEX I Statement of acceptance Auction Participant Company name Address Contact Per
51. onnection Capacity for elec tricity transfers expressed in MW Product A Block or set of Blocks sold through an Auction PTR Holder User which has obtained a PTR in the Auction or via Secondary PTR Market PTR Transfer Mechanism defined in Article 6 01 by which a PTR Holder may transfer a PTR to User Resale Notification Mechanism and information transmission proc ess between a PTR Holder and HTSO defined in Article 6 02 Reseller A PTR Holder that resells PTR to Monthly or Daily Auction in respect of a Resale Notification Secondary PTR Market Mechanism that permits transfer and resale by a PTR Holder of the PTRs acquired in Yearly and Monthly Auctions or in Secondary PTR Market Transfer Notification Mechanism and information transmission proc ess between a PTR Holder and HTSO defined in Article 6 01 Transferor PTR Holder that effectuates a PTR Transfer User Legal entity which participates in intends to participate in or has participated in an Auction and or Secondary PTR Market Yearly Auction PTR auctioning for imports from X Country to Greece concerning the period from 1st January 2007 until 30th June 2007 and PTR auctioning for exports from Greece to X Country concerning the period from 1st January 2007 until 31rst December 2007 Yearly Interconnection Capacity Part of Interconnection Capacity to be allocated in the Yearly Auction
52. or the Interconnection Capacities allocated at the Auc tions the valuation equal to the product of the Clearing Price of the Auction the duration in hours of the corresponding Block the Interconnection Capacity obtained as result of the Auction The Interconnection Capacity Prices will be billed and invoiced by HTSO and will be paid by the PTR Holder as described in detail in Article 3 03 The valuation is without tax and the invoice will include taxes and levies at the official rates in force Invoices are sent to the User at the address indicated on the Statement of Acceptance The User may Notify HTSO of any possible change in his invoice address In case that notification was sent after the issuance of the invoice then HTSO bears no responsibility for forwarding the invoice to the previous address of the User Issued invoices may be sent in advance via fax in this case the delivery date will be the date re sulting from sending devices The PTR Holder pays HTSO the sums invoiced by bank transfer to the account specified by HTSO Any bank charges relative to the settlement of the invoice are at the PTR Holder s expense The PTR Holder will ensure that his bank transmits the corresponding invoice number with the payment order In the event of a SWIFT transfer the User undertakes to ensure that the invoice number is specified on the line Payment reason Payment is deemed to have been made on the Day on which it ap
53. ount of the present guarantee does not exceed the limit set by the law for our bank IN WITNESS WHEREOF the present guarantee was signed on 200 Issuer s signature Page 42 of 50 ANNEX VII Greek Participation Letter of Guarantee for Monthly Auctions Participation Letter of Guarantee for Monthly Auctions Payable on First Demand No of euro To HELLENIC TRANSMISSION SYSTEM OPERATOR HTSO 11 Amfitheas Avenue 171 22 Nea Smyrni Attica Greece Sirs We hereby guarantee expressly irrevocably unconditionally and unreservedly as principal debtors to yourselves Hellenic Transmission System Operator hereinafter called HTSO waiv ing any benefit of division and excussion beneficimum excussionis for our part only in favor of the company under the name eseeeeeeeeeeeeees the registered office of which are at EC TTT Teer erry ere hereinafter called the Client with tax registration number E ET payment of an amount up to the sum of euro at least 20 of the total amount of Client s Bid up to which we undertake to pay to you HTSO for the participa tion of our Client to the Auction for the Allocation and Assignment of Physical Transmission Rights hereinafter called PTRs to use interconnection capacity for electricity transfers from Greece X Country to X Country Greece depending on the auction imports or exports from Greece at the time period star
54. pears on HTSO s bank state ment which is consulted every working day provided that the PTR Holder has specified a correct invoice reference number The PTR Holder is responsible for anticipating bank processing and payment registration times HTSO will make every effort to minimise these times but may not be held responsible if a period of two Working days elapses between the point at which the PTR Holder makes payment as defined in the paragraph above and the point at which it is registered by HTSO 28 Article 8 02 Reductions of Capacity Allocated at Yearly and or Monthly Auc tions If Capacity Allocated at Yearly and or Monthly Auctions is reduced HTSO compensates the User The monthly valuation of all reductions affecting a Bid selected at an Allocation Mechanism during the course of a given Month M is equal to the product of A compensation co efficient equal to 100 the Marginal Price associated with the Bid in question and the total monthly energy in MWh represented by all the reductions affecting the Bid during the course of Month M This energy is equal to the sum of imbalances by Hourly Period of month M between the Capacity initially Allocated and the Capacity Allocated after all the reductions are taken into account This compensation is applied for the duration of the reduction Article 8 03 Exclusion of Set off A User is in principal not entitled to offset any debts that arise in connection with an A
55. ryption software in order to ensure confidentiality of information c electronic signature username and password The Users can find more information about the electronic system and the use of the software tools in the Electronic Bid Submission System User s Manual which is available in the HTSO Auction Web site The Users have the possibility to resubmit a Bid File before the corresponding deadline of the Auc tion If the above specified Bid submission conditions cannot be implemented for a given Auction HTSO notifies the User by e mail or by fax of the switch to downgraded mode HTSO will also publish information on the Auction Website if available 19 The notification of the switch to downgraded mode indicates which of the types of downgraded mode defined in ANNEX XII has been adopted and the new Auction Specifications that apply HTSO may under no circumstances be held responsible if it is unable to contact the Users via the channels above or if it is unable to publish an announcement on the Auction Website Bids submitted prior to the switch to downgraded mode are deemed invalid and must be submitted again according to the conditions stipulated in the event of downgraded mode being adopted If the conditions stipulated in the event of downgraded mode cannot be implemented in time for a given Auction then that Auction is cancelled and all Bids already submitted are automatically can celled 20
56. s allocated through Yearly Auctions or resulting from PTR Transfer may be totally or partially with a minimum of 1 MW and only in units of 1MW resold at Monthly and Daily Auctions PTRs allocated through Monthly Auctions or resulting from PTR Transfer may be totally or partially with a minimum of 1 MW and only in units of 1MW resold at Daily Auctions In case a User wishes to resale PTRs which have been allocated through Yearly Auctions to a Monthly Auction then he is only allowed to resell them in a Block or Blocks of the entire or part of a Product time periods as they have been defined in the Yearly Auctions Accordingly in case a User wishes to resale PTRs which have been allocated through Yearly and or Monthly Auctions to a Daily Auction then he is allowed to resell them in an hourly basis The PTR Resale must be indicated without taking account any programmed curtailment such as those described in Article 2 06 HTSO reserves the possibility of applying the conditions defined in Article 2 06 in the event of curtailments In case of curtailments before a Daily Auction PTR Resale is reduced on a pro rata basis b Financial arrangements The Reseller remains responsible for payment of the Interconnection Capacity Price for the PTR Resale without any additional fee Interconnection Capacity Price for PTR Resale shall be computed as stated in Article 5 01 c Resale Notification In case a PTR Holder wishes to resell a certai
57. s or in respect of the Auctions for the Allocation and Assignment of PTRs shall be finally settled by the Greek Regulatory Authority as per article 24 of the Greek presidential decree 139 2001 as it applies 2 Any dispute arising out of or in connection with these Auction Rules or in respect of the Auctions for the Allocation and Assignment of PTRs or the Auctions that take place hereunder is governed exclusively by the Greek legislation 3 The application of the UN Convention on Contracts for the International Sale of Goods CISG shall be excluded Article 9 06 Force Majeure A Force Majeure events shall be construed as any unforeseeable event or situation beyond the reason able control of the Parties and not due to a fault of such Parties which cannot reasonably be avoided or overcome and which makes it impossible for one or several Parties to fulfil temporarily or definitively its or their obligations hereunder in accordance with the terms of the Auction Rules The Party which invokes a Force Majeure event shall send the other Party notification describing the nature of the Event of Force Majeure and its probable duration The obligations of Parties subject to a Force Majeure event with the exception of confidentiality obliga tions defined in Article 9 03 shall be suspended from the date of receipt of the aforementioned notifica tion The Parties can in no circumstances be held responsible or held liable to pay any compensati
58. son Representative Telephone and Fax N E mail address EIC Code Nr We hereby declare our intention to participate in the auctions for the Allocation and Assignment of Import Export select the appropriate transaction Cross Border Transmission Capacity Rights by use of the Greek X Countryn Interconnection hereinafter called the Auctions We fulfil all participation requirements eligibility and registration requirements set in the Interconnection Capacity Access Rules hereinafter called the Auction Rules Moreover we hereby declare that we have read and fully and unconditionally accept to abide and to be bound by all rules regulations and Information Technology requirements of the Auction Rules which have been published on the Auctions Websites mentioned in the Auction Rules We hereby declare that we have been lawfully and duly incorporated on 5 date of its incorpo ration under the laws of the State where the participant has its registered offices our legal representative IS cceeeeeeeee ees We are in good standing and we validly operate under the laws of the TA State where the participant has its registered offices Furthermore we hereby guarantee that 1 we are not wound up 2 our affairs are not being administered by the Court 3 we have not entered into an arrangement with creditors 4 we have not suspended business activities and we are not in
59. ticle 3 03 Provision of letter of guarantees bank guarantee As prerequisite for participation in the Allocation Mechanisms the User has to fill the request for participation to the Auctions in one or two directions as shown in ANNEX III In all cases the User should provide a Bank Guarantee as described below The Letters of Guarantee submitted to HTSO as they are mentioned in this article should be is sued by a bank legally operating in a member state of the European Union and their wording is presented in the corresponding ANNEXES Participation Letters of Guarantee are submitted in sealed envelopes which shall clearly bear the identification details of the User as per the Registra tion Requirements Article 3 02 indicating the Auction they refer to Yearly Monthly Daily and their content Participation Letter of Guarantee Yearly Auction Users have to submit a Participation Letter of Guarantee for the Yearly Auction shown in ANNEX V covering at least 20 of the total amount of their Bid twenty four 24 hours before the deadline of submission of Bids for the Yearly Auction in order to participate in the Auction The Participation Letter of Guarantee for the Yearly Auction shall remain valid until the 20 of January of the calen dar year for which Yearly AUIC is auctioned Upon publication of the Yearly Auction results and the latest until the 15 of January of the calen dar year for which Yearly AUIC is auctioned the PTR
60. ting from and ending on as per the terms described in the Interconnection Capacity Access Rules hereinafter called the Auction Rules published in the HTSO Auction Website copies of which were delivered to us and by this present we confirm their receipt The subject guarantee is valid until such time as our Client honors all its obligations arising from the Auction Rules as regards our Client s participation and the latest until the fifth 5 work ing day of the calendar month for which the monthly interconnection capacity is auctioned In consideration of the aforementioned guarantee we hereby promise and undertake the obligation to pay immediately and in the latest within three days to you upon receipt of your simple written demand without contesting it or raising any objections whatsoever any amount up to the maximum of SAY to which our guarantee is limited and which according to your unlimited and indisputable judgment would have been set as owed to you due to total or partial forfeiture of this guarantee in the event of failure by our Client to respect all or any of its obligations with regard to its participation as described in the Auction Rules or because of the non furnishing of the good performance guarantee in case PTRs are awarded to our Client Page 43 of 50 Your above indisputable decision is absolutely obligatory for ourselves and we hereby undertake to pay immediately on
61. uc tion clearing process shall be applied for the PTR allocation concerning the exports from Greece in order to incorporate an additional constraint which is the maximum export capability of the Greek power system In particular for the Auction of PTRs in direction from Greece to X Country HTSO will operate the allocation of PTRs for all Greek interconnections at the same time as described in the Article 5 01 The Auction Rules may be amended according to Article 9 07 1 04 Legal qualification of the awarding of PTRs pursuant to an Auction The auctions are in respect of AUIC only The auctioning and awarding of PTRs and the financial settlement of the Auction results do not deal with electricity transports or any rights liabilities or financial aspects pertaining to electricity transports PTR Holders can invoke vis a vis HTSO no other right than that Interconnection Capacity is made available to them subject to the provisions in these Auction Rules The results of the Auctions as regards the Interconnection Capacity awarded are binding for HTSO as well as for the User who are obliged to fulfil their respective duties HTSO is obliged to make Interconnection Capacity for electric energy transfer available to the PTR Holder while the PTR Holder is under the obligation to pay the Interconnection Capacity Price 1 05 Collection of debts waiver of right to offset HTSO as Auction Operator collects all debts resulting from the Auctions of P
62. uction to any claim against HTSO whether or not arising out of an Auction Claims of HTSO can only be set off against claims of the User 29 Deadline for submission of Bids by Bidders for the Daily Auction Deadline for participants to submit offers to the Greek PX Deadline for resale of Yearly and or Monthly PTRs Deadline for transfer of Yearly and or Monthly PTRs D 2 10 00 14 00 D 1 D 00 00 07 00 12 00 00 00 11 00 00 00 CET Announcement of results of Daily Auction by HTSO Deadline for announcement of ATC for Daily Auction by HTSO Figure 1 Timetable of events concerning the Auctions from D 2 until D D expresses the Day of Execution It is assumed here that the days D 2 and D 1 are Working Days 30 Section IX Miscellaneous Article 9 01 Information Notices Any notice given under these Auction Rules is to be in writing and must be addressed to HTSO at the address mentioned in ANNEX II except where these Auction Rules provide otherwise Article 9 02 Limitation of Liability 1 HTSO shall not be liable to a User for any damages resulting from a User s participation or a User s inability to participate in an Auction or from the results of the Auction or from an Auction not being held and a User shall hold harmless and indemnify HTSO in respect of claims raised for such damages from third parties Insofar as the exclusion of the previous paragrap
63. y on the congested System Greek system There is one Clearing Price for all Interconnections The Clearing Price shall be paid by all Bidders that have been awarded Capacity in the Auction irre spective of the declared in their Bid Interconnection c If one or more individual constraints latcexi is are activated before the activation of constraint Satcex the corresponding Clearing prices for those Interconnections are defined accordingly as stated in paragraph b and the Clearing price of the Satcex constraint defines the Clearing price of the rest Interconnections In case that the requested Capacity is less than the amount of Satcex this constraint is not activated the Clearing price of the rest Interconnections is zero Capacity is considered to have been awarded to a Bidder when the Bidder has submitted a valid Execution Letter of Guarantee pursuant to the provisions of Article 3 03 An example of the mechanism for the Auction clearing process for exports from Greece is available in the HTSO Auction Website Article 5 02 Publication of Auction results The Auction results are published in the HTSO Auction Website according to the deadline The Auction Website contains the details indicated in the Auction Specifications The results of Auctions can also be accessed via the Auction Tool at the following times For Yearly and Monthly Auctions no later than 18 00 of the yearly auctioning day Dy and 18 00 of the month
64. your demand any stipulated sum or sums not exceeding the aggregate amount of SAY free from interest costs and ancillary charges as per your instructions without demanding our Client s authorization consent or any other action and without having the right to take into consideration any eventual op position objection or exception raised by our Client whom we warranted and waiving all rights of ours in general deriving from Articles 853 855 862 863 867 and 868 of the Greek Civil Code We shall discharge our above Client of this guarantee upon the return of this letter of guarantee and your written instructions to this effect and in any case the present guarantee is valid until its expiration period lasting until the fifth 5 working day of the calendar month for which the monthly interconnection capacity is auctioned whichever is soonest at which point it shall lapse and shall not give rise to any obligation on our part unless you have re quested in writing that all or part of it is forfeited before it expires Modification or removal of factual or legal relations or links that may exist as of this day between us and our Client may not release us from the present guarantee Our obligation aris ing by the present guarantee will remain valid and we will not be released from our obligations arising from this guarantee in case that our Client is declared bankrupt or under liquidation or under dissolution or in case of

INTERCONNECTION CAPACITY ACCESS RULES for the

Contents

Download Pdf Manuals

Related Search

Related Contents