ΑΠΟΦΑΣΗ ΡΑΕ ΥΠ ΑΡΙΘΜ. 325/2007

Transcription

1 ΑΠΟΦΑΣΗ ΡΑΕ ΥΠ ΑΡΙΘΜ. 325/2007 Καθορισµός όρων πλειοδοτικών διαγωνισµών για την εκχώρηση σε µακροχρόνια και σε βραχυχρόνια βάση του δικαιώµατος µεταφοράς ηλεκτρικής ενέργειας για εισαγωγές και για εξαγωγές µέσω των διασυνδετικών γραµµών του Ελληνικού Συστήµατος µε τα συστήµατα της Βουλγαρίας, της ΠΓ Μ και της Αλβανίας το έτος 2008 Η Ρυθµιστική Αρχή Ενέργειας Κατά την τακτική συνεδρίασή της, στην έδρα της, την 12 η εκεµβρίου 2007 και Λαµβάνοντας υπόψη: 1. Τις διατάξεις του Ν. 2773/1999 (ΦΕΚ Α 286/ ) όπως τροποποιήθηκε και ισχύει. 2. Τις διατάξεις του Κώδικα ιαχείρισης του Συστήµατος και Συναλλαγών Ηλεκτρικής Ενέργειας (ΦΕΚ Β 655/ ) όπως ισχύει και ειδικότερα τις διατάξεις κατά το Κεφάλαιο Τις διατάξεις του Κώδικα Συναλλαγών Ηλεκτρικής Ενέργειας (ΦΕΚ Β 623/2001) όπως ισχύει. 4. Τον Κανονισµό (ΕΚ) αριθ. 1228/2003 του Ευρωπαϊκού Κοινοβουλίου και του Συµβουλίου, της 26ης Ιουνίου 2003, σχετικά µε τους όρους πρόσβασης στο δίκτυο για τις διασυνοριακές ανταλλαγές ηλεκτρικής ενέργειας, όπως ισχύει. Το γεγονός ότι οι διατάξεις του προαναφερόµενου Κανονισµού είναι δεσµευτικές για τα κράτη-µέλη και έχουν άµεση εφαρµογή. 5. Την εισήγηση του ΕΣΜΗΕ µε αριθ. πρωτ. 7683/ (ΡΑΕ/Ι-64761/ ) µε θέµα «Κανονισµός δηµοπρασιών για την εκχώρηση δικαιωµάτων στις Βόρειες ιασυνδέσεις για το έτος 2008»

2 6. Το έγγραφο ΕΣΜΗΕ µε αριθ. πρωτ. 7593/ (ΡΑΕ/Ι-64364/ ) µε θέµα «Καθορισµός ικανοτήτων για εκχώρηση δικαιωµάτων στις διασυνδέσεις» και το συνηµµένο σε αυτό έγγραφο του ιαχειριστή του Συστήµατος της Π.Γ..Μ. (MEPSO), στο οποίο προτείνεται από τον εν λόγω ιαχειριστή η διενέργεια δηµοπρασιών από τον ΕΣΜΗΕ για την εκχώρηση δικαιωµάτων πρόσβασης στις διασυνδέσεις µεταξύ Ελλάδας και Π.Γ..Μ., για το σύνολο της εκάστοτε διαθέσιµης ικανότητας µεταφοράς των εν λόγω διασυνδέσεων, και ο ισοµερής επιµερισµός των εσόδων από τις δηµοπρασίες αυτές µεταξύ των δύο ιαχειριστών. Σκέφτηκε ως εξής : 1. Ο ΕΣΜΗΕ, στο πλαίσιο των αρµοδιοτήτων του κατά τις διατάξεις του Άρθρου 313, παράγραφος 3.(Α) του Κ Σ&ΣΗΕ, υπέβαλλε µε το από έγγραφό του εισήγηση επί των όρων και των διαδικασιών διενέργειας πλειοδοτικών διαγωνισµών για την εκχώρηση σε µακροχρόνια βάση δικαιωµάτων µεταφοράς ηλεκτρικής ενέργειας για εισαγωγές και εξαγωγές µέσω των διασυνδετικών γραµµών του Ελληνικού Συστήµατος µε τα Συστήµατα της Βουλγαρίας, της ΠΓ Μ και της Αλβανίας (εφεξής «ικαιώµατα Εισαγωγών» και «ικαιώµατα Εξαγωγών» αντίστοιχα). Με την εισήγηση του ΕΣΜΗΕ προτείνεται επιπλέον, στη βάση των διατάξεων του Κανονισµού ΕΚ/1228/2003, η διενέργεια πλειοδοτικών διαγωνισµών για την εκχώρηση ικαιωµάτων Εισαγωγών και ικαιωµάτων Εξαγωγών σε βραχυχρόνια βάση και η οργάνωση δευτερογενούς αγοράς για την εµπορία των µακροχρονίως εκχωρηθέντων δικαιωµάτων. 2. Πιο συγκεκριµένα, ο ΕΣΜΗΕ εισηγείται την εκχώρηση ικαιωµάτων Εισαγωγών µε εµφανείς πλειοδοτικούς διαγωνισµούς, οι οποίοι διενεργούνται σε µακροχρόνια (ετησίως και µηνιαίως) και σε βραχυχρόνια (ηµερησίως) βάση και ανά διασυνδετική γραµµή. Σε αναλογία προς τα ανωτέρω, ο ΕΣΜΗΕ εισηγείται την εκχώρηση ικαιωµάτων Εξαγωγών σε µακροχρόνια (ετησίως και µηνιαίως) και σε βραχυχρόνια (ηµερησίως) βάση µε εµφανείς πλειοδοτικούς διαγωνισµούς, οι οποίοι διενεργούνται ταυτόχρονα για το σύνολο των διασυνδετικών γραµµών του Ελληνικού Συστήµατος (περιλαµβανοµένης της διασύνδεσης µε Ιταλία), σε εφαρµογή των διατάξεων του Άρθρου 313, παράγραφος 3.(Α) του Κ Σ&ΣΗΕ. Οι πλειοδοτικοί διαγωνισµοί συµπληρώνονται από δευτερογενή αγορά δικαιωµάτων, η οποία επιτρέπει: α) την εµπορία µακροχρονίως εκχωρηθέντων δικαιωµάτων µεταξύ δικαιούχων συµµετοχής στους πλειοδοτικούς διαγωνισµούς και β) την επιστροφή µακροχρονίως εκχωρηθέντων δικαιωµάτων σε περίπτωση µη χρήσης τους από τους κατόχους τους και την εκ νέου διάθεσή τους από τον ΕΣΜΗΕ σε επόµενους (βραχυχρόνιους) πλειοδοτικούς διαγωνισµούς. 3. Ο µηχανισµός διαχείρισης της συµφόρησης µε εµφανείς πλειοδοτικούς διαγωνισµούς και δευτερογενή αγορά εµπορίας µακροχρονίως εκχωρηθέντων δικαιωµάτων, τον οποίο εισηγείται ο ΕΣΜΗΕ κατά τα ανωτέρω, είναι συµβατός µε τις γενικές διατάξεις του Κανονισµού ΕΚ/1228/2003, καθώς και τις ειδικότερες αρχές που θεσπίζονται µε τις διατάξεις του Κανονισµού που αφορούν συγκεκριµένα στη διαχείριση της συµφόρησης στις διασυνδέσεις (Παράρτηµα του Κανονισµού µε τίτλο «Κατευθυντήριες γραµµές σχετικά µε τη διαχείριση και τον επιµερισµό του διαθέσιµου δυναµικού µεταφοράς ηλεκτρικής ενέργειας των διασυνδέσεων µεταξύ εθνικών δικτύων»). Περαιτέρω, οι επιµέρους λεπτοµέρειες τις οποίες εισηγείται ο ΕΣΜΗΕ για την εφαρµογή του προτεινόµενου µηχανισµού (εµφανείς πλειοδοτικοί διαγωνισµοί και δευτερογενής αγορά) είναι συµβατές µε τις προβλέψεις του Κανονισµού ΕΚ/1228/2003 που αφορούν σε θέµατα διαφάνειας των σχετικών διαδικασιών διαχείρισης και επιµερισµού του δυναµικού µεταφοράς των διασυνδέσεων. 4. Επειδή, κατά τις διατάξεις της παραγράφου 6.3 του Παραρτήµατος του Κανονισµού ΕΚ/1228/2003, τα έσοδα από τη διαχείριση της συµφόρησης των ηλεκτρικών διασυνδετικών γραµµών επιµερίζονται µεταξύ των ιαχειριστών των εµπλεκόµενων Συστηµάτων Μεταφοράς βάσει κριτηρίων που συµφωνούνται µεταξύ των ιαχειριστών, - 2 -

3 τα οποία κριτήρια τελούν υπό την εποπτεία των Ρυθµιστικών Αρχών. Ο ιαχειριστής του Ελληνικού Συστήµατος δεν έχει συνάψει συµφωνίες προς το σκοπό αυτό µε τους ιαχειριστές των συστηµάτων της Βουλγαρίας, της ΠΓ Μ και της Αλβανίας για το έτος Επειδή, κατά τις διατάξεις του άρθρου 9 του Κανονισµού ΕΚ/1228/2003, ορίζεται ότι οι Ρυθµιστικές Αρχές, κατά την άσκηση των καθηκόντων τους, εξασφαλίζουν τη συµµόρφωση µε τον Κανονισµό και µε τις κατευθυντήριες γραµµές που θεσπίζονται σύµφωνα µε το άρθρο 8 του Κανονισµού, περαιτέρω δε, κατά τις διατάξεις της παραγράφου 1.10 του Παραρτήµατος του Κανονισµού, ορίζεται ειδικότερα ότι οι Ρυθµιστικές Αρχές αξιολογούν τους µηχανισµούς που εφαρµόζονται για τη διαχείριση της συµφόρησης, προκειµένου ιδίως να εξασφαλίζεται συµµόρφωση µε τις αρχές και τους κανόνες που θεσπίζονται µε τον Κανονισµό και τις Κατευθυντήριες Γραµµές και µε τους όρους και τις προϋποθέσεις τις οποίες οι ίδιες οι Αρχές θέτουν στο πλαίσιο αυτών των αρχών και κανόνων. Αποφασίζει 1. Κατά τις διατάξεις του Άρθρου 313, παράγραφος 3.(Α) του Κώδικα ιαχείρισης του Συστήµατος και Συναλλαγών Ηλεκτρικής Ενέργειας και στο πλαίσιο των αρµοδιοτήτων της κατά το Άρθρο 19 παράγραφος (4) και κατά το Άρθρο 20 παράγραφος (4) του Ν.2773/1999, εγκρίνει τους όρους, τους κανόνες και τις διαδικασίες διενέργειας πλειοδοτικών διαγωνισµών για την εκχώρηση σε µακροχρόνια και σε βραχυχρόνια βάση του δικαιώµατος µεταφοράς ηλεκτρικής ενέργειας για εισαγωγή και για εξαγωγή µέσω των διασυνδετικών γραµµών του Ελληνικού Συστήµατος µε τα συστήµατα της Βουλγαρίας, της ΠΓ Μ και της Αλβανίας, σύµφωνα µε το κείµενο που ακολουθεί µε τίτλο «ACCESS RULES FOR THE GREEK COUNTRY X INTERCONNECTIONS (Capacity Allocation Auction Rules) 2008 version 1.0»: - 3 -

4 Hellenic Transmission System Operator S.A. ACCESS RULES FOR THE GREEK COUNTRY X 1 INTERCONNECTIONS (Capacity Allocation Auction Rules) 2008 VERSION 1.0 (12 December 2007) 1 Country X indicates Albania or Fyrom or Bulgaria Page 1 of 39

5 Section I. Introduction General Context Definitions General aspects of the Auction Rules Legal qualification of the awarding of PTRs pursuant to an Auction Collection of debts... 7 Section II. General... 8 Article 2.01 Yearly, Monthly and Daily Auctions... 8 Article 2.02 ATC for Yearly, Monthly and Daily Auctions... 8 Article 2.03 Basis on which ATC is offered... 9 Article 2.04 Firmness of PTRs...9 Article 2.05 Guarantee of schedules Article 2.06 Auction Website...10 Article 2.07 Conduct of Users Article 2.08 Currency Article 2.09 Timing Article 2.10 Fallback procedure in case of IT Systems disturbance Section III. Participation requirements Article 3.01 Registration requirements Article 3.02 Financial guarantees Article Requirements in respect of grid access Article 3.04 Deregistration, Suspension and Exclusion Section IV. Auction proceedings Article 4.01 Auctions Specification Article 4.02 Yearly, Monthly and Daily Auctions Article 4.03 Format of Bids and Bid limitations submission of Bids Article 4.04 Fallback procedures and Cancellation of an Auction Section V. Determination of Auction results Article 5.01 Awarding of PTRs Article 5.02 Deadline for contesting results Section VI. Secondary PTR Market Article 6.01 PTR Transfers...21 Article 6.02 PTR Resale Page 2 of 39

6 Article 6.03 Secondary PTR Market - downgraded mode Article 6.04 Fallback procedures for Secondary PTR Market Section VII. Capacity usage rules Article 7.01 Counterparty and Nominations for PTRs Section VIII. Settlement / Payment Article 8.01 Generality Article 8.02 Settlement of Yearly, Monthly and Daily PTRs (a) Issuance of invoices (b) Invoice disputes (c) Payment condition (d) Late payment Article 8.03 Payments by HTSO to PTR Holders Article 8.04 Exclusion of set-off...27 Section IX. Miscellaneous Article 9.01 Information / Notices Article 9.02 Limitation of Liability Article 9.03 Confidentiality Article 9.04 Severability Article 9.05 Disputes and Applicable Law Article 9.06 Force Majeure Article 9.07 Amendment of Rules Page 3 of 39

7 Section I. Introduction General Context In accordance with Regulation (EC) n 1228/2003 of the European Parliament and of the Council, of 26 th of June 2003 on conditions for access to the network for cross-border exchanges in electricity, the Auction Rules set out the terms and conditions governing the allocation of available Interconnection Capacity via Auctions in both directions on the Interconnections on the Greek -X Country Interconnection. The ATC on each interconnection is offered in form of Physical Transmission Rights (PTRs). The auctioning of Interconnection Capacity is aimed at providing a transparent market based method of congestion management. All relevant information is made available on the Auction Website of HTSO according to the Auction procedures Definitions In these Auction Rules (including any Annexes) the terms defined below (where appropriate in plural) shall, for all purposes of these Auction Rules have the meanings specified in this article (unless the context requires otherwise). Invoice: Annex Assigned PTRs: Auction: Auction Operator: Auction Rules: Auction Specifications: Auction Tool: Auction Website: Auctioning Day: Invoice issued to the PTR Holder directly after the conclusion of the Yearly and/or Monthly Auction, which must be settled no later than timeframes indicated in these Auction Rules or in the invoice. Document attached to these Auction Rules. Capacity (MW) that the User gains upon publication of the Auction results in form of Physical Transmission Rights. Yearly, Monthly and/or Daily Auction held under these Auction Rules. Legal entity which operates the Auctions and Secondary PTR Market. Throughout this document HTSO is the Auction Operator. These Auction Rules valid for the access to the Greek northern Interconnections. Information on a specific Auction provided on the Auction Website. IT system used by the Auction Operator to receive Bids from Users, process them and return the results of the Auction. Website of the Auction Operator with the content as listed in article 2.06 of these Auction Rules. All calendar days, on which Auctions take place. Bids Page 4 of 39

8 Available Transmission Capacity ( ATC ): Bank Guarantee: Beneficiary: Bid: Bid File: Block Capacity Price: Clearing Price: Counterparty: Curtailment: Daily Auction: Day of Execution: Daily ATC: Exchange schedule EIC-Code: Equivalent Day: ETSO ( European Transmission System Operators ): can be submitted till a specific deadline on this day. Part of the NTC that remains available, after each phase of the allocation procedure, which shall be offered in the Yearly, Monthly and Daily Auction procedures. Bail in form of an irrevocable and directly enforceable bank guarantee valid for a limited period waiving any exceptions or set-offs. User that acquires a PTR as a result of a PTR Transfer. An offer submitted by a User to purchase rights to use capacity pursuant to and in compliance with these Auction Rules; such an offer consists of two values per product: a capacity in MW and a price in Euro ( ) per MWh. Set of Bids submitted to the Auction Operator by a User for a given Auction in electronic form. A quantity of MW made available at Daily Auction over one hour. Price expressed in Euro ( ) payable by a PTR Holder as a result of the PTRs awarded in the Auction, being Clearing Price times Assigned PTR times number of hours the PTR refers to. Price expressed in Euro ( ) per MWh resulting from an Auction. Legal entity, which has been designated by the PTR Holder as his counterparty regarding nomination of schedules according to the Auction Rules. Reduction of already Assigned PTRs as described in Article PTR auctioning for the respective following day. Day on which electricity transports using the Assigned PTRs take place. Part of ATC to be allocated in the Daily Auction as described in relevant Articles. The accepted Nomination according to the provisions set in these Auction Rules and the matching process made by TSOs. ETSO identification code, which univocally identifies Users in a cross-border trade (see 100% Curtailment for 24 hours. Association with membership of European Transmission System Operators with the aim to harmonise network access and conditions for usage, especially Page 5 of 39

9 for cross border electricity trade. Force Majeure: As defined in article HTSO: Interconnection: Maintenance Period: Hellenic Transmission System Operator S.A. with registered office at Amphitheas Avenue 11, N. Smyrni, Athens, Greece. Set of single and/or double circuit lines between Greece and its northern neighbouring countries transmission systems, which connects the control areas of Greece with Albania, FYROM and Bulgaria synchronously. Period of time during which a Product has to be adjusted due to planned maintenance. Monthly Auction: Monthly ATC: Net Transfer Capacity ( NTC ): Nomination: Party: Physical Transmission Right (PTR): Product: PTR Holder: PTR Transfer: PTR Resale: Reseller: Resale Notification: Secondary PTR Market: Transfer Notification: PTR auctioning for the respective following month. Part of ATC to be allocated in the Monthly Auctions as described in the relevant Articles. 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. Notification to the TSOs by a PTR Holder and his Counterparty of his schedules relating to the power expressed in integer value of MW which he wants to use within the capacity defined by the PTRs awarded to him. Designates the Auction Operator or a User Right to use Interconnection capacity for electricity transports expressed in MW. Whole or part of the Yearly, Monthly or Daily ATCs offered in an Auction with reference to a specific period of time. User that has obtained a PTR in the Auction or via Secondary PTR Market. Mechanism by which a PTR Holder may transfer a PTR to a Beneficiary. Mechanism by which a PTR Holder may resell a PTR back to the Auction Operator. PTR Holder that resells PTR to Monthly or Daily Auction in respect of a Resale Notification. Information about a PTR Resale submitted to the Auction Operator by a Reseller in electronic form. Mechanism that permits transfer and resale by a PTR Holder of the PTRs acquired at Yearly and/or Monthly Auctions according to these Auction Rules. Information about a PTR Transfer submitted to the Auction Operator by a Transferor in electronic form. Page 6 of 39

10 Transferor: Transmission System Operators (TSOs): User: Working Day Yearly Auction: Yearly ATC: PTR Holder that executes a PTR Transfer to a Beneficiary in respect of a Transfer Notification. HTSO, ESO-EAD, OST and MEPSO Legal entity, which participates in, intends to participate in or has participated in an Auction and/or Secondary PTR Market. Every day except for Saturdays, Sundays and any official holiday, as listed in Annex V. PTR auctioning for the following year. Part of ATC to be allocated in the Yearly Auctions in form of PTRs General aspects of the Auction Rules These Auction Rules describe (among other aspects) the requirements that Users must fulfil to participate in the Yearly, Monthly and Daily Auctions, the Auction proceedings, the awarding of PTRs, the conditions to access Secondary PTR Market and the utilisation of assigned PTRs. These Auction Rules, in particular, apply to the allocation of Yearly, Monthly and Daily ATC in both directions on the Interconnections between Greece and Country X. ATC for imports to Greece through the Interconnections with Albania, FYROM and Bulgaria is allocated by means of Yearly, Monthly and Daily Explicit Auctions carried out separately for each border. Due to the fact that there is limited production Capacity in the Greek power system, ATC for exports from Greece is allocated by means of Yearly, Monthly and Daily Explicit Auctions each of which is carried out simultaneously on all Interconnections of the Greek system (Albania, FYROM, Bulgaria, Italy). In each of these Auctions, the maximum export capability of the Greek power system is incorporated as an additional constraint. The clearing process followed in import and export Explicit Auctions is detailed in Article Legal qualification of the awarding of PTRs pursuant to an Auction The auctioning and the secondary market are in respect of Interconnection capacity only. The auctioning, secondary market and awarding of PTRs and the financial settlement of the Auction results do not involve electricity transports or any rights, liabilities or financial aspects pertaining to electricity transports. The Auction results bind the Auction Operator and the User to fulfil their respective duties. The Auction Operator is obliged to make ATC for electricity transports available to the PTR Holder, while the PTR Holder is under the obligation to pay the Capacity Price to the Auction Operator Collection of debts HTSO,as the Auction Operator, collects all debts resulting from the Auction of PTRs for the auctions performed by him on each Interconnection, on behalf of both TSOs on the respective Interconnection (in case of 100% allocation of ATC by HTSO). Page 7 of 39

11 Section II. General Article 2.01 Yearly, Monthly and Daily Auctions Separate Auctions are held for PTRs in the direction from each northern country X to Greece (for each Interconnection). However, one common Auctioning process is employed in the direction from Greece to all Greek borders (Bulgaria, FYROM, Albania and Italy). The following Auctions shall take place for each Interconnection in each direction: Imports from Country X to Greece: Bulgaria: a. Yearly Auction in respect of PTRs for Yearly ATC from 1 st of January through 31 st of December 2008; b. Monthly Auctions in respect of PTRs for Monthly ATC from the first day through the last day of a calendar month within the year 2008; c. Daily Auctions in respect of PTRs for Daily ATC for each hour of a calendar day of the year FYROM & Albania: a. Monthly Auctions in respect of PTRs for Monthly ATC from the first day through the last day of a calendar month within the year 2008; b. Daily Auctions in respect of PTRs for Daily ATC for each hour of a calendar day of the year Exports from Greece to Country X: Bulgaria, FYROM, Albania (simultaneous allocation on all Greek Interconnections including Italy): a. Yearly Auction in respect of PTRs for Yearly ATC from 1 st of January through 31 st of December 2008; b. Monthly Auctions in respect of PTRs for Monthly ATC from the first day through the last day of a calendar month within the year 2008; c. Daily Auctions in respect of PTRs for Daily ATC for each hour of a calendar day of the year Article 2.02 ATC for Yearly, Monthly and Daily Auctions 1. The NTCs, which are the basis for auctioning in form of PTRs are agreed between HTSO and the relevant TSO in each interconnection, are defined according to the criteria defined by ETSO, applicable laws and regulations. 2. The NTCs and ATCs for the respective Interconnection and direction are published on the Auction Websites. 3. Users shall be timely informed of the Interconnection Capacity for each Auction by publication on the relevant Auction Websites. Page 8 of 39

12 Article 2.03 Basis on which ATC is offered 1. PTRs are offered in units of 1 MW; 2. For Yearly, Monthly and Daily Auctions, PTRs are offered as Products defined, by the relevant TSOs. The Products can be offered according to the following definitions: a. Yearly base: flat 00:00-24:00 from 1 st January 2008 to 31 st December b. Yearly peak: 06:00-22:00 of Monday to Saturday throughout the Year. c. Yearly off-peak: 00:00-06:00 and 22:00-24:00 of Monday to Saturday and 00:00-24:00 of Sunday, throughout the Year. d. Monthly base: flat 00:00-24:00 from 1 st Day of the Month to the last Day of the Month. e. Monthly peak: 06:00-22:00 from Monday to Saturday of the first Day of the Month to last Day of the Month. f. Monthly off-peak: 00:00-06:00 and 22:00-24:00 from Monday to Saturday and 00:00-24:00 of Sunday, from the first Day of the Month till the last Day of the Month. g. Daily product: hourly Blocks. These Products are published in the Auction Specifications on the Auction Website in accordance with these Auction Rules. Article 2.04 Firmness of PTRs 1. Yearly and Monthly PTRs are offered on a firm basis except for cases where curtailments are necessary due to circumstances that constitute Force Majeure as defined in or due to the network security reasons and after all other available measures according to relevant national and European legislation have been taken. (i) In case of PTR Curtailments for network security reasons, caused by circumstances that do not constitute a Force Majeure event, the PTR Holder is compensated at 100% of the Clearing Price paid corresponding to the hours of curtailed PTRs. PTRs acquired through Yearly and Monthly Auctions are curtailed on a pro rata basis. HTSO can curtail PTRs for exports from Greece to Country X for reasons of security of supply in the Greek power system. In such cases, HTSO shall first exhaust all other available measures to be taken prior to curtailing exports, as these measures and their relevant priority are listed in the Grid Code (article 113). The PTR Holder is compensated at 100% of the total payments effectuated for the hours of curtailed PTRs. HTSO shall not be liable to a PTR Holder for any incidental, indirect or consequential damages caused by such curtailments. In case of curtailment of Yearly and/or Monthly PTRs for network security reasons and/or for reasons of security of supply in the Greek power system, HTSO shall curtail the PTRs for all hours of the day corresponding to the curtailed Product. PTR Curtailment for network security reasons and/or for reasons of security of supply in the Greek power system is allowed up to 35 Equivalent Days in total. Beyond this limit, the PTRs are guaranteed. (ii) In case of PTR Curtailments under circumstances that constitute Force Majeure as defined in the Article 9.06, the PTR Holder is not reimbursed. 2. Daily PTRs are offered on a firm basis, except for cases where Curtailments are necessary due to circumstances that constitute Force Majeure. 3. In the event of a failure to make capacity available to the extent of PTRs offered firm, the Auction Operators shall only be obliged to pay a refund in accordance with paragraph (1) or (2); it shall not be liable to a PTR Holder for any incidental, indirect of consequential damages caused by such failure. Page 9 of 39

13 Article 2.05 Guarantee of schedules TSOs guarantee the realisation of the Exchange Schedules corresponding to firmly Assigned PTRs, except Force Majeure. For the sake of clarification the following will be applied by HTSO to curtail PTRs: a) If the decision for the curtailments is taken before the deadline for nominations of Yearly and/or Monthly PTRs (06:00 of the D-1), then HTSO is capable to perform these curtailments (of Yearly and/or Monthly PTRs). b) If the decision for the curtailments is taken in D-1 after the deadline for nominations of Yearly and/or Monthly PTRs (06:00), then HTSO cannot curtail Yearly and/or Monthly PTRs, but only to perform redispatching. If, in addition, the decision for curtailments is taken before the publication of Daily ATC(07:15), HTSO can reduce the Daily ATC. c) After the publication of the Daily ATC curtailments are not possible; Daily PTRs are offered on a firm basis except in case of Force Majeure. Article 2.06 Auction Website Each Auction Operator operates and maintains, as part of his website, an Auction Website. On these Auction Websites the following publications are made: a. Auction Rules, and any alterations thereof; b. Announcements pursuant to these Auction Rules; c. Auction Specifications; d. Names, fax and telephone number(s), address (es) HTSO contact persons; e. Formats of documents related to the Auction to be downloaded and used by Users; f. NTC; g. Auction Results (Clearing Price, allocated quantity for all products); h. Number of Users with successful Bids and overall number of Users; i. The name of the PTR Holder (Yearly and Monthly Auction) in respect of Annex I; j. Aggregated nominations results (i.e. total capacity used following nomination of Yearly and Monthly PTRs); k. Planned Curtailments; l. Maintenance Periods; m. Indicative calendars for Yearly and Monthly Auctions; n. Other relevant information. Article 2.07 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. Page 10 of 39

14 2. The Auction Operator is entitled to report data to the competent regulators or administrative authorities so they can take appropriate measures against those who act or behave or have acted or behaved in violation of the first paragraph, who misuse any right or position obtained pursuant to an Auction or who do not comply with any other provision of these Auction Rules. Article 2.08 Currency Financial securities, price settlement and payments in respect of the Auctions as well as financial information are in Euro ( ). Article 2.09 Timing All timings set in these Auction Rules make reference to the Central European Time [CET]. Article 2.10 Fallback procedure in case of IT Systems disturbance Serious disturbance to the functioning of the IT System or devices used by the Auction Operator may be the reason for changing, cancelling or suspending any procedures regarding these Auction Rules. The Auction Operator shall also publish information on its Auction Website about the implementation of downgraded mode, interruption etc, if available. Therefore, in case of IT system disturbances (as defined above) the Auction Operator performs the following fallback procedures and actions: 1) If the electronic mail server of the Auction Operator is in operation, then the Auction Operator informs the Users (via ) that the Auction shall be performed via (the Bid Files shall be send via e- mail by the Users). 2) If the electronic mail server of the Auction Operator is completely or partially out of operation, then the Auction Operator informs the Users (via phone or fax) that the Auction is cancelled; 3) The Auction Operator informs the Users if any other measures have to be taken. The Auction Operator shall also publish information on its Auction Website about the implementation of postponement, downgraded mode, interruption etc, if available. Page 11 of 39

15 Section III. Participation requirements Article 3.01 Registration requirements In order to participate in Auctions at a specific Interconnection the applicant has to fulfil the requirements specified in Articles 3.02 and 3.03 below. Procedure to apply for Auction participation 1. The applicant must submit a completed statement of acceptance form, as per Annex I, signed by the legal representative of the User, to the Auction Operator. The original form has to be submitted via mail to the address reported in Annex IV. However, the statement of acceptance could be sent in advance via fax. 2. By signing the statement of acceptance, the User undertakes to comply with all the provisions contained in these Auction Rules. The statement of acceptance has an undetermined duration, notwithstanding the obligation of the User to inform the Auction Operator forthwith of any changes and notwithstanding the right of the Auction Operator to request a renewal of the registration and/or the documents to be submitted. 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. Article 3.02 Financial guarantees Each Bank Guarantee submitted to HTSO, as it is mentioned in this paragraph, is subject to Greek law and it should be issued by a Bank, legally operating in a member state of the European Union and its wording is presented in Annex II (for imports) or Annex III (for exports). Each Bank Guarantee is submitted in sealed envelope, which clearly bears the identification details of the User as per the Registration Requirements (Article 3.01). For registration purposes, the User must submit to HTSO a Bank Guarantee for imports (per interconnection) and a Bank Guarantee for exports (per interconnection), as follows: 1) the minimum amount is fifty thousand (50 000) Euros, and 2) the expiration date cannot be any earlier than the 31 st March The Bank Guarantee has to cover 1/4 of debts resulting from the Yearly auction. If this condition is not fulfilled the PTR Holder has to increase the amount of his Bank Guarantee within 7 calendar days after the allocation of Yearly PTRs, provided that the User participates in the Yearly Auction. In all other cases the User submits a Bank Guarantee of minimum fifty thousand (50 000) Euros. If the PTR Holder does not fulfil the request, he will not be able to participate in the next Auction. HTSO will reallocate the corresponding quota of PTRs not covered. Once submitted, the Bank Guarantee covers the participation of the User in all forthcoming Monthly and Daily Auctions (the User does not have to submit another Bank Guarantee for participating in these Auc- Page 12 of 39

16 tions). The Capacity Price from Yearly and Monthly Auctions will be settled on a monthly basis using Invoices (payment in advance of use of PTRs), as follows: 1) For Yearly PTRs, not later than the date stated in the Yearly Auction Specifications, which will be before the date of publication of Auction Specifications for the Monthly Auction referred to the same month of the not-settled Yearly PTRs. 2) For Monthly PTRs: not later than the date stated in the Monthly Auction Specifications, which will be two working days before the Auctioning Day of the first Daily Auction referred to the same month of the not-settled Monthly PTRs. Daily PTRs will be settled after usage, not later than the 25 th calendar day of the month following the month that the Daily Auctions took place. In case the payments are not made as specified above, the Bank Guarantee is forfeited and PTRs not paid by the User are considered by HTSO as capacity available for allocation in the subsequent Auctions. In order for the User to start participating again in the Auctions held by HTSO he has to submit a new Bank Guarantee of equal amount with the forfeited one and with the same wording and expiration date. Article Requirements in respect of grid access In order to participate in the Auctions, the User must be a registered market participant in the Greek power market. The particular rights of registered market participants in the Greek power market with respect to accessing the interconnections for import and export are stipulated in the Grid Code, Article 312. Article 3.04 Deregistration, Suspension and Exclusion Deregistration Should the User not wish to participate in any further auctions, he may submit a written request for deregistration to the Auction Operator. The request will be granted on condition that: The User no longer possesses rights to use any Assigned PTRs and The User has fulfilled all his obligations towards the respective Auction Operator. Users who have been deregistered may apply for readmission by completing the entire registration process pursuant to this Section III. Temporary Suspension Should the User in any manner (a) be in default of payment, (b) institute or should a third party institute against him insolvency proceedings or any other relief under insolvency law or (c) not fulfil the requirements regarding grid access for a respective Interconnection, then the User is temporarily suspended from further Auctions by the Auction Operator until he fulfils again the requirements or up to the court ruling stating that the User may still participate in Auctions, and this according to the rules of the country in which the User is established. Exclusion Page 13 of 39

17 Should the User in any manner (a) infringe these Auction Rules or (b) declare bankruptcy or (c) be declared bankrupt by a court ruling (judgement), then the User can be excluded from further Auctions and from the nomination at this Interconnection by the Auction Operator. The exclusion shall promptly be notified by the Auction Operator to the User by both facsimile transmission and mail. The User shall be obligated to pay the Capacity Price for already Assigned PTRs. Section IV. Auction proceedings Article 4.01 Auctions Specification The Auction Specifications consist of information regarding: - Products made available for Auctions: a. Annual Product: base load, and/or base load without August or Maintenance Period, and/or peak load and/or off-peak load; b. Monthly Product: base load, and/or peak-load and/or off-peak load; c. Daily Product: hourly Blocks and/or Individual Blocks. Not all Products are available at each Interconnection. - ATC; - Gate openings and closures; - Timeframe for results publication; - Deadline to contest results, in accordance with Article 5.02; - Other additional information. Article 4.02 Yearly, Monthly and Daily Auctions Yearly, Monthly and Daily Auctions described herein shall be performed by HTSO. (1) Yearly Auctions For each Interconnection the Auction Specifications will be published by the respective Auction Operators on the Auction Website five (5) calendar days before the Auctioning Day of the Yearly Auctions. a. Only those Bids submitted by Users, which meet the requirements of the Auction Rules in particular, those of Section III as well those described in Article 4.03 and 4.04 shall be considered in the Auction. b. Each User is informed of the outcome of his Bid(s) no later than three (3) hours after the gate closure of the Yearly Auction. The results of the Auctions are announced on the Auction Website. c. Detailed information about the Yearly Auction is published in the Auctions Specifications according to Article (2) Monthly Auctions Page 14 of 39

18 For each Interconnection the Auction Specifications will be published by the Auction Operator on the Auction Website two (2) Working Days before the Auctioning Day of the Monthly Auction. i. Only those Bids submitted by Users, which meet the requirements of the Auction Rules in particular, those of Section III as well as those described in Article 4.03 and 4.04 shall be considered in the Auction. The Monthly ATC to be auctioned will consist of: Part of total ATC foreseen to be allocated in the Monthly Auction The Yearly Capacity already allocated by the Auction Operator to be resold via Secondary PTR Market as Monthly products; The Yearly Capacity already allocated by the Auction Operator which had to be withdrawn from the PTR Holder; The Yearly Capacity not allocated in the Yearly Auction. ii. Each User is informed of the outcome of his Bid(s) no later than three (3) hours after the gate closure of the Monthly Auction. The results of the Auctions are announced on the Auction Website. iii. Detailed information about the Monthly Auction is published in the Auctions Specifications according to Article (3) Daily Auctions For each Interconnection and each direction, the Daily ATC is taking into account: Partition of total ATC foreseen to be allocated in the Daily Auction The Yearly and Monthly capacity that has not been allocated in the Monthly Auction in the previous auctions; The Yearly and/or Monthly capacity already allocated by the Auction Operator to be resold via Secondary PTR Market as Daily products; The Yearly and/or Monthly capacity already allocated by the Auction Operator, which had to be withdrawn from the PTR Holder; Yearly and/or Monthly PTRs which have not been Nominated; Netting effects based on Nominations in the respective counterdirection (if available). HTSO, as Auction Operator, will perform the allocation of Daily ATC seven (7) days a week (except from public Greek holidays referred in Annex V), in D-1. The following steps are performed for the Daily Auction on the above mentioned Interconnections: a. The Daily ATC is published on the Auction Website of HTSO between 06:45 and 07:15 of the D-1. b. Daily Auctions are held between 07:15 and 08:00 of D-1. The exact process for the submission of Bids for the Daily Auctions is described in detail in the Electronic Web Offer Submis- Page 15 of 39

19 sion System of HTSO, which is available in the HTSO Auction Website. 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 submission of the encrypted bid (file.pgp ) 07:15-07:45 ii. Silence period 07:45-07:50 iii. Gate opening for the submission of the encryption key (file.asc ) 07:50-08:00 c. Only those Bids submitted by Users, which meet the requirements of these Auction Rules, in particular those of Bid Limitations and Submission of bids for Daily auctions, shall be considered in the Auction. d. Each User is informed of the outcome of his Bid(s) between 08:00 and 8:30 of the D-1. The results of the Auctions are announced on the Auction Website. e. The above time schedules may be modified by the Auctions Operator via Auctions Specifications. f. The PTRs allocated by HTSO in the Daily Auctions will be subject to the use-it-or-lose-it (UIOLI) principle. Article 4.03 Format of Bids and Bid limitations submission of Bids Bids are submitted by the User using a Bid File for each Auction. In Yearly, Monthly and Daily Auctions each User may submit a Bid File with a maximum of 10 Bids for each Product. The sum of requested capacities of the Bids for the same Yearly, Monthly or Daily Product should be less than or equal to the ATC of the Product. Each Bid concerns capacity in units of 1 MW with a minimum of 1 unit and a maximum equal to the ATC for each period of time. 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 Interconnection Capacity c. The name and EIC code of the User, the submission date, the Day of Execution, the Interconnection on which Interconnection Capacity is requested, and the direction (on this Interconnection) in which Interconnection Capacity is requested. 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. The Bids for the Yearly, Monthly and the Daily Auctions must be submitted using the appropriate forms, which could be downloaded from the Auction Website. Such Bids shall be submitted using the Electronic Web Offer Submission System of HTSO which consists of: i. A secure website for the submission of Bids that guarantees transparency of the process Page 16 of 39

20 ii. Encryption of the Bids, using the PGP public key encryption software in order to ensure confidentiality of information. iii. 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 Web Offer Submission System User s Manual, which is available in the Auction Website. The Users have the possibility to resubmit a Bid File before the corresponding deadline of the Auction. In this case (submission of multiple subsequent Bid Files by the same User), the most recent Bid File with respect to the corresponding deadline is considered for acceptance. Article 4.04 Fallback procedures and Cancellation of an Auction In case of serious disturbance to the functioning of the IT System or devices used by the Auction Operator Article 2.10 applies accordingly. Additionally, if postponement of an Auction is not possible, according to downgraded mode, the Auction is conducted or cancelled according to the notice provided by the Auction Operator; 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 being adopted cannot be implemented in time for a given Auction, that Auction is cancelled and all Bids already submitted are automatically cancelled. Page 17 of 39

21 Section V. Determination of Auction results Article 5.01 Awarding of PTRs a. Yearly, Monthly and Daily Auctions from Country X 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 ATC, no Clearing Price is charged to the PTR Holder. Case 2: If the sum of all Bids submitted for a given Auction exceeds the ATC, a Clearing Price is charged to the PTR Holder for each assigned MWh. 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 capacities of the Bids are added up to the Bid, which represents the level above which the sum of the Interconnection capacity requested by the Users exceeds the ATC (marginal Bid). The price of the marginal Bid is the Clearing Price. Each User who bidded more than the Clearing Price receives the Interconnection capacity requested at the Clearing Price in form of a PTR. The remaining Interconnection capacity is allocated to the User of the marginal Bid. If the ATC is reached with several Bids of the same price, the remaining Interconnection capacity is distributed pro-rata in proportion to the requested Interconnection capacity of the Bids. The Clearing Price determined according to the above principle is used as a basis for calculating the Capacity Price and apply to all PTR 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 Country X (exports from Greece) Due to the fact that there is limited production Capacity in the Greek power system, a different Auction 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 for exports from Greece to neighbouring countries (Bulgaria, FYROM, Albania and Italy), HTSO will operate the allocation of PTRs for all Greek interconnections (interconnections between Greece and Country X and interconnection between Greece and Italy) at the same time. 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 the following constraints: 1. one per Interconnection (I ATCex i), reflecting the ATC of each Interconnection, and 2. one corresponding to the sum of all exports from Greece (S ATCex ), reflecting the total maximum available capacity that could be exported from Greece. Page 18 of 39

22 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 different sums as follows: 1. one for each Interconnection (Sum ex i) and, 2. one by aggregating the requested Capacity (Total Sum ex ), irrespective of the Interconnection it corresponds to. In each step, a Bid of the requested Capacity (with the next highest Bid price according to the above classification) is added into the appropriate sums (both in the appropriate Sum ex i and in the Total Sum ex ) and each sum is compared against the corresponding constraint, I ATCex i or S ATCex. a. If the sum Sum ex i for each Interconnection is equal to or less than the relative I ATCex i, and at the same time the Total Sum ex is equal to or less than the S ATCex (no constraint is active), the Clearing Price for each Interconnection is equal to zero. [ Sum ex i I ATCex i for i=1,2,3 and 4 AND Total Sum ex S ATCex ] b. If the constraint S ATCex is activated before the individual constraints of each Interconnection, [Sum ex i I ATCex i for i=1, 2, 3 and 4 AND Total Sum ex S ATCex ], 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. In case 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 Capacity 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 auctioned capacity (Clearing Price), which is the marginal price of Capacity 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) irrespective of the declared in their Bid Interconnection. c. If one or more individual constraints I ATCex i is (are) activated before the activation of constraint S ATCex, the corresponding Clearing prices for those Interconnections are defined accordingly (as stated in paragraph b ) and the Clearing price of the S ATCex constraint defines the Clearing price of the rest Interconnections. In case that the requested Capacity is less than the amount of S ATCex (this constraint is not activated), the Clearing price of the rest Interconnections is zero. An example of the mechanism for the Auction clearing process for exports from Greece is available in the HTSO Auction Website. Article 5.02 Deadline for contesting results The PTR Holder may object against/contest the Auction results, according to the conditions and within the deadlines as follows: for Yearly and Monthly Auctions: no later than twenty four (24) hours after the gate closure of the Yearly/Monthly Auction; for Daily Auctions: no later than two (2) hours after the gate closure for the publication of the Auction results in the Auction website. Page 19 of 39

23 The Auction Operator shall reply to the PTR Holder no later than: one (1) working day after the reception of the claim for Yearly and Monthly Auctions; no later than two (2) hours after the reception of the claim for Daily Auctions. Objections against the Auction results may be raised electronically, by sending respective or by fax to HTSO. The Auction Operator will examine them and the decision with the wording of the objection attached will be published in HTSO Auction Website. If the PTR Holder does not contest the Auction result within the deadline and under the condition specified above, the PTR Holder is bound by the Auction results. Page 20 of 39

24 Section VI. Secondary PTR Market The Auction Operator operates the Secondary PTR Market. Article 6.01 PTR Transfers a. Characteristics of PTR Transfers PTRs allocated through Yearly and Monthly Auctions or resulting from PTR Transfer may be transferred by a Transferor to a Beneficiary provided that the Transfer Notification is sent by the Transferor to the Auction Operator as per (c) of the hereinbelow Article. 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 in a previous transfer. The Transfer Notification form is downloadable by the HTSO Auction Website. The PTRs transferred must be indicated without taking account of any programmed Curtailment, such as those described in Article The PTRs assigned through Daily Auctions cannot be transferred. The Auction Operator reserves the possibility of applying the conditions defined in Article 2.04 in the event of Curtailments. The minimum volume for a PTR Transfer is 1 MW over 1 hour. b. Financial arrangements The User who got awarded PTRs in the Auction remains responsible for the payment of the Capacity Price for the transferred PTRs without any additional fee, even in the case of multiple Transfers among several Users. In case of Curtailment, possible indemnification according to Article 2.04 shall be in favour of the Beneficiary. c. Transfer Notification A PTR Holder willing to execute a PTR Transfer has to access the Auction Tool and follow the instructions regarding Transfer as set out in the relevant instruction by the Auction Operator. The PTR Transfer can only be initiated, if the respective PTR is paid, the PTR Holder and the Beneficiary comply with these Auction Rules and the Transfer deadline is not exceeded. Transfer deadline is D-2 (two days before execution) at 12:00 am. Article 6.02 PTR Resale a. Characteristics of PTR Resale PTRs allocated through Yearly Auctions or resulting from PTR Transfers may be resold at Monthly and Daily Auctions. Page 21 of 39

25 PTRs allocated through Monthly Auctions or resulting from PTR Transfers may be resold at Daily Auctions. In case a User wishes to resell 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, as they have been defined in the Yearly Auctions. Accordingly, in case a User wishes to resell 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 Resale Notification form is downloadable by the HTSO Auction Website. The PTR Resale must be indicated without taking account of any programmed Curtailment, such as those described in Article The Auction Operator reserves the possibility of applying the conditions defined in Article 2.04 in the event of Curtailments: In case of Curtailments before a Monthly Auction, PTR Resale is reduced proportionally throughout the complete month concerned by the PTR Resale. In case of Curtailments before a Daily Auction, PTR Resale is reduced on a pro rata basis. The minimum volume for a PTR Resale through a Daily Auction is 1 MW over 1 hour. The minimum volume for a PTR Resale through a Monthly Auction is 1 MW over 1 month. b. Financial arrangements The User who got awarded PTRs in the Auction remains responsible for the payment of the Capacity Price for the resold PTRs without any additional fee. The Reseller is compensated with the relevant Clearing Price for its resold PTR. The Clearing Price for PTR Resale shall be computed according to Article If due to network constraints, the respective ATC of the Auction, in which capacity shall be resold, has to be curtailed so that the resold capacity offered for resale has to be curtailed the Reseller then receives indemnification up to 100% of the Clearing Price of the Auction at which the PTR was acquired. c. Resale Notification A PTR Holder willing to execute a PTR Resale has to access the Auction Tool and follow the instructions regarding PTR Resale as set out in the relevant instruction by the Auction Operator. The PTR Resale can only be initiated, if the respective PTR is paid, the PTR Holder complies with this Auction Rules and the Resale deadline is not exceeded. Monthly Resale deadline: till the 12 th day of the previous month of the month for which the PTR resale will take place Daily Resale deadline is D-2 (two days before execution, one day before the Daily Auction) at 12:00 am for Resale in the Daily Auction. Page 22 of 39

26 Article 6.03 Secondary PTR Market - downgraded mode When downgraded mode is adopted, Transfer Notification and Resale Notification are effectuated by e- mail. If this is not possible, then the Secondary PTR Market is being suspended. The suspension shall not give rise to any indemnification. Date and time mentioned in the s received by the Auction Operator are deemed authentic. The Auction Operator processes Transfer and Resale Notifications seven days a week, from 8:00 till 13:00, except on public holidays. The Auction Operator answers to Transfer and Resale Notifications: 5 calendar days before the Monthly Auction, till 17h00, for a Resale of Yearly PTRs to a Monthly Auction till 7:15 D-1, excluding public holidays, for a Resale of Yearly and/or Monthly PTRs to a Daily Auction As a last resort, adoption of downgraded mode in response to unplanned unavailability of the information system may result in the Secondary PTR Market being suspended. The suspension shall not give rise to any indemnification. Article 6.04 Fallback procedures for Secondary PTR Market. In case of serious disturbance to the functioning of the IT System or devices used by the Auction Operator Article 2.10 applies accordingly. Additionally: If an Auction including capacity based on Resale should be cancelled: For a PTR Resale at a Monthly Auction, the Reseller may regain the PTR and thus cancel the PTR Resale. If however, the Monthly Auction is rescheduled for a later date then the Resale Notifications are conserved; 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. Page 23 of 39

27 Section VII. Capacity usage rules Article 7.01 Counterparty and Nominations for PTRs Yearly and Monthly PTRs Counterparty(ies) of the User For PTRs Nominations the PTR Holder can designate as his Counterparty(ies) a legal entity(ies) allowed to make nominations to the neighbouring TSOs (A-to-N). The PTR Holder must notify his Counterparties to HTSO no later than 12:00 on Wednesday of Week W-1 and can modify the notification every week. In the event of a PTR Transfer, the new PTR Holder must notify his Counterparty(ies) following the above mentioned criteria. If the information is inaccurate, incomplete or if is not received by 12:00 on Wednesday of Week W-1, HTSO is able to reset the PTR Holder's schedules to 0 MW (for Week W). Nominations The PTRs holder or his Counterparty(ies) must Nominate to HTSO the use of the Yearly and Monthly PTRs according to the Greek nomination rules no later than 06:00 am on D-1. This nomination is binding for the PTR Holder. Modifications of schedules after this time are not possible. Use is generally based on the principle "use it or lose it". This means that PTRs, which are not used by fixed schedules at 06:00 am D-1, will be made available to all market participants in the Daily Auction procedures. The Daily Auction proceeds generated in this way will not be reimbursed to the respective former PTR Holder. If the Nomination exceeds the maximum amount of PTRs, PTR Holder will be requested to revise his Nomination. If no revised and valid Nomination is submitted in due time the Nomination of the PTR Holder will be set to zero. In case of discrepancies between nominations made by the PTR Holder and his Counterparty(ies) to TSOs the minimum value will prevail. Daily PTRs Counterparty(ies) of the User For PTRs Nominations the PTR Holder can designate as his Counterparty(ies) a legal entity(ies) allowed to make nominations to the neighbouring TSOs (A-to-N). Nominations Page 24 of 39

28 The PTRs acquired through Daily Auctions must be nominated to HTSO according to the Greek nomination rules. In case of discrepancies between nominations made by PTR Holders and his Counterparty(ies) to TSOs the minimum value will prevail. PTRs acquired through Daily Auctions are subject to the use it or lose it principle. The PTR Holders nominate to HTSO until 14:00 on the day before Day of Execution (for both directions) the use of their PTRs acquired through Daily Auction for the respective Day of Execution. Page 25 of 39

29 Section VIII. Settlement / Payment Article 8.01 General terms Each Auction Operator shall invoice the PTR Holders the Capacity Price. The initial evaluation of the dues of the User is net of taxes and levies. However, in the invoice all taxes and levies are included. Article 8.02 Settlement of Yearly, Monthly and Daily PTRs The payment procedures are described in detail in Article 3.02, as well as in the present article. (a) Issuance of invoices No later than the 10 th calendar day of each month M, HTSO sends to the PTR Holder an invoice including the amounts due for assigned Daily PTRs for use during month M-1. Invoices are notified to the PTR Holder at the address indicated in the Statement of acceptance. The PTR Holder notifies HTSO of any changes in its invoicing address. Such change will take effect on the first Day of month M+1, on condition that Notification of the change has been received at least seven (7) Days before the end of Month M. Issued invoices are sent in advance via fax or ; in this case the delivery date will be the date resulting from sending devices. (b) Invoice disputes To be admissible, any claims made relative to an invoice must be notified by registered letter with acknowledgement of receipt to HTSO, within seven calendar days of the invoice s date of issue. Beyond this period, the invoice will be deemed to have been accepted by the PTR Holder. The above-mentioned registered letter must contain a precise and detailed description of the grounds for the objection to the invoice. (c) Payment condition 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. (d) Late payment Payment is deemed to have been made on the Day on which it appears on HTSO's bank statement, 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. Page 26 of 39

30 Article 8.03 Payments by HTSO to PTR Holders The Resales of Yearly PTRs to Monthly Auctions shall be paid by HTSO to PTR Holders till the 26th calendar day of the next month of the month in which the Monthly Auction has been performed. The Resales of Yearly and/or Monthly PTRs to Daily Auctions shall be paid on monthly basis by HTSO to PTR Holders till the 26th calendar day of the next month of the month in which the Daily Auctions have been performed. The curtailments of Yearly and/or Monthly PTRs shall be paid by HTSO to the PTR Holders till the 26th calendar day of the next month of the month in which the curtailments took place. In case of late payments by HTSO, the interest rate applied by the European Central Bank at its most recent refinancing operation shall be applied, plus 3 points. Article 8.04 Exclusion of set-off A PTR Holder is in principal not entitled to offset any debts that arise in connection with an Auction to any claim on HTSO, whether or not arising out of an Auction. Claims of HTSO can only be set off against claims of the User which are uncontested or legally enforced. Although HTSO collects these payments on behalf and in the name of both TSOs on that Interconnection (in case of allocation of 100% of ATC), Users accept by participating in the Auctions that they can only be discharged of their debts through payment to HTSO and that payment of a debt to the other TSO shall not release them from this obligation. Moreover, as payment by compensation would thwart the administrative structure of the co-operation between both TSOs, Users waive the right to offset any debts that arise in connection with an Auction to claims that those PTR Holders have on a TSO, whether or not arising out of an Auction. Page 27 of 39

31 Section IX. Miscellaneous Article 9.01 Information / Notices Any notice given under these Auctions Rules is to be in writing and must be addressed to HTSO at the address mentioned in Annex IV, except where these Auction Rules provide otherwise. Article 9.02 Limitation of Liability (1) HTSO shall not be liable to a User or to a third party for any damages resulting from a User s participating or not being able to participate in an Auction or in a PTR Transfer or in a PTR Resale, or from the results of the Auction and/or PTR Resale and/or PTR Transfer; or from an Auction not being held or cancelled and a User shall hold harmless and indemnify HTSO, in respect of claims regarding such damages from third parties. (2) HTSO will provide the PTRs awarded by the Auction and/or the PTR Transfer and/or a PTR Resale within the scope of its possibilities. This provision is subject to the technical possibility of transmitting electricity, which can be affected by Force Majeure, unexpected external influences (e.g. extreme load flow changes) or other serious operational conditions (e.g. power plant outages on an unexpected scale) caused by circumstances that do not constitute a Force Majeure event. The impairment will only be remedied by technically/economically feasible and appropriate actions complying with the relevant national and international requirements. (3) HTSO shall only be liable for damage or loss incurred by Users or by third parties if it is the result of intent or gross negligence or culpable dereliction of an essential duty under these Rules. In all the above cases, HTSO s liability is limited only to the direct (actual) and documented damages. There is no HTSO s liability whatsoever for any consequential damages. (4) The User shall only be liable for damage or loss incurred by HTSO if it is the result of intent or gross negligence or culpable dereliction of an essential duty under these Rules. In all the above cases, User s liability shall be limited to direct (actual) and documented damages. There is no User s liability whatsoever for any consequential damages. (5) In no way shall the awarding of PTRs pursuant to these Rules be considered or construed to mean or imply that the User is entitled to have electricity transports carried out, or that transport failures or restrictions are or imply a failure to supply Interconnection Capacity which has been awarded in an Auction. (6) HTSO does not assume responsibility for the arrival of Bids and/or Transfer Notifications and/or Resale Notifications in time. Article 9.03 Confidentiality HTSO shall treat all information disclosed to themselves 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. Confidential information shall include all information delivered in writing and designated as Confidential, or commercially sensitive information disclosed other than in writing. Paragraph above shall not apply to disclosure of information to European Union institutions, governmental, regulatory authorities and court having jurisdiction on the above matters insofar as such disclosure is mandatory, nor to the disclosure of information to a court-of-law or an arbitrator insofar as such disclosure is ordered by the court or the arbitrator or is necessary for supporting a claim or defending against a claim. The provisions of this article shall not apply to any information disclosed to HTSO as contemplated by said article if: a. before such disclosure it was public knowledge or, after such disclosure, becomes public Page 28 of 39

32 knowledge through no fault of HTSO; b. it was known to HTSO before that disclosure and was not covered by an obligation of secrecy; c. after that disclosure the same information is received by HTSO from a third party owing no obligation of secrecy to the respective User in respect to such information. Article 9.04 Severability If any part or provision of the Auction Rules and/or its Annexes are or become invalid, illegal, void and/or unenforceable, the remaining part(s) shall continue to be valid and enforceable and shall not be affected thereby. Any invalid, illegal, void and/or unenforceable part(s) or provision(s) shall be replaced by valid, legal and/or enforceable part(s) or provision(s) in order to achieve the intended economic and legal effect as far as possible. Article 9.05 Disputes and Applicable Law. (1) 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 shall be settled by the Greek Regulatory Authority, as per article 24 of the Greek presidential decree 139/2001, as it applies. The place of arbitration will be the offices of RAE in Greece. The language to be used in the arbitration proceedings shall be English. (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 law. (3) The application of the UN Convention on Contracts for the International Sale of Goods (CISG) shall be excluded. (4) The provisions of this Clause constitute an irrevocable consent by the Parties to any proceedings in terms hereof and no Party shall be entitled to withdraw therefrom or claim at any such proceedings that it is not bound by such provisions. Article 9.06 Force Majeure A Force Majeure events shall be construed as any unforeseeable event or situation beyond the reasonable control of the Parties and not due to a fault of such Parties which from a technical, financial and/or economic point of view 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 the Parties subject to a Force Majeure event, with the exception of the duty of confidentiality defined in article 9.03, shall be suspended for such period as is reasonable having regard to the effect of the impediment on performance of the rights and duties under the Auction Rules.. The Parties can in no circumstances be held responsible or held liable to pay any compensation for damage suffered, due to the cancellation or the non-performance or defective performance or delayed 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 consequences and duration of the event. If a Force Majeure Event last 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. Page 29 of 39

33 Article 9.07 Amendment of Rules These Rules are subject to the technical and legal conditions at the time of their creation. If these conditions 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 within a period of five (5) Working Days upon the publication of these alterations in the HTSO website of their will to terminate the Statement of Acceptance, such amended rules will become effective upon publication by HTSO in the Auction Website. Page 30 of 39

34 ANNEX I. Statement of Acceptance User (User): (Name, Position, Address) EIC -Code-Nr.: We hereby declare our intention to participate in the auction of available Interconnection capacity for electricity transfers between Greece and Bulgaria FYROM Albania and for the following directions, as reported in the attachment of this Statement of Acceptance. We fulfil all participation requirements of these Auction Rules and Annexes as applicable to the Interconnections in which we have declared our participation. Moreover, we have read and fully and unconditionally accept to abide and to be bound by all rules and regulations and IT requirements of the Interconnection Capacity Access Rules for the Greek Country X Interconnections (Capacity Allocation Auction Rules) 2008, which have been published on the Auction Website and which are in force at the time of relevant transactions. We acknowledge that our admission to participate in the auction may be withdrawn in case regulations of the Interconnection Capacity Access Rules on Greek border with Bulgaria, FYROM and Albania are breached. We will provide all securities and guarantees required by the Interconnection Capacity Access Rules on Greek border with Bulgaria, Fyrom, and Albania. We hereby declare that we have been lawfully and duly incorporated as per the laws of.. [the State where the participant has its registered offices], we are in good standing and we validly operate under the laws of the [State where the participant has its registered offices]. Furthermore, we hereby guarantee that there is no condition under the laws of.[the State where the participant has its registered offices], which prevents us from Page 31 of 39

35 participating in the Auctions and meeting our obligations in respect thereof and we do not fall in the cases mentioned in Directive 2004/18/EC article 45,. We undertake to directly inform you in case of any change occurred in the company s status as declared herein. We expressly authorize the Auction Operator to publish the name of our company in case of assignment of PTRs through Yearly and Monthly and Daily auctions on the respective Auction Website. Date Name and Position Duly authorized to fulfil this function. Signature Page 32 of 39

36 ATTACHMENT TO STATEMENT OF ACCEPTANCE: REQUEST TO PARTICIPATE TO THE AUCTIONS In application of Statement of Acceptance, 1 wishes to participate in auctions in direction: Bulgaria Greece Greece Bulgaria Greece Bulgaria and Bulgaria Greece FYROM Greece Greece FYROM Greece FYROM and FYROM Greece Albania Greece Greece Albania Greece Albania and Albania Greece 1 Company name of the User Page 33 of 39

37 ANNEX II. Bank Guarantee for imports from Country X to Greece Payable on First Demand No.. of euro. To HELLENIC TRANSMISSION SYSTEM OPERATOR (HTSO) 11, Amfitheas Avenue 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), waiving any benefit of division and excussion (beneficimum excussionis) for our part only, in favor of the company under the name., the registered office of which are at (hereinafter called the Client), with tax registration number., payment of an amount up to euro. [at least fifty thousand (50.000) euros], up to which we undertake to pay to you (HTSO), for the participation of our Client to the Auctions for the Allocation and Assignment of Physical Transmission Rights (hereinafter called PTRs) to use interconnection capacity for electricity transfers from... (state the country) to Greece at the time period starting from and ending on, as per the terms described in the Access Rules for the Greek Country X Interconnections (Capacity Allocation Auction Rules) 2008 (hereinafter called the Capacity Allocation Auction Rules), which are published in the HTSO 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, as described in the Auction Rules, and at the latest until the thirty first (31) day of March 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 participation as described in the Auction Rules, in case PTRs are awarded to our Client. Page 34 of 39

38 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 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 guarantee and your written instructions to this effect and in any case the present guarantee is valid until its expiration date, namely , 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 arising 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 government 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 Issuer s signature Page 35 of 39

39 ANNEX III. Bank Guarantee for exports from Greece to Country X Payable on First Demand No.. of euro. To HELLENIC TRANSMISSION SYSTEM OPERATOR (HTSO) 11, Amfitheas Avenue 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), waiving any benefit of division and excussion (beneficimum excussionis) for our part only, in favor of the company under the name., the registered office of which are at (hereinafter called the Client), with tax registration number., payment of an amount up to euro [at least fifty thousand euros], up to which we undertake to pay to you (HTSO), for the participation of our Client to the Auctions for the Allocation and Assignment of Physical Transmission Rights (hereinafter called PTRs) to use interconnection capacity for electricity transfers from.greece to... (state the Country)at the time period starting from and ending on, as per the terms described in the Access Rules for the Greek Country X Interconnections (Capacity Allocation Auction Rules) 2008 (hereinafter called the Capacity Allocation Auction Rules), which are published in the HTSO 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, as described in the Auction Rules, and at the latest on the thirty first (31) day of March 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 participation as described in the Auction Rules, in case PTRs are awarded to our Client. Page 36 of 39

40 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 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 guarantee and your written instructions to this effect and in any case the present guarantee is valid until its expiration date, namely , 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 arising 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 government 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 Issuer s signature Page 37 of 39

41 ANNEX IV. Contacts Auction Procedures Operation & Security Department Market Operation Branch 22 Asklipiou St. GR KRIONERI Telephone: Fax : Financial issues Department of Finance 11 Amphitheas Avenue GR N. SMYRNI Telephone: Fax : IT issues IT Department 11 Amphitheas Avenue GR N. SMYRNI Telephone: Fax : Page 38 of 39

42 ANNEX V. Public Greek holidays 2008 Date Day Public holiday Tuesday New Year s Day Sunday Epiphany Monday National festive day (Kathari Deftera) Tuesday Greek Independence Friday Good Friday Saturday Holy Saturday Sunday Easter Monday Easter second day Thursday Labour Day Friday Virgin Mary day Tuesday National festive day Saturday Saint Nick (HTSO festive day) Thursday Christmas Day Friday Christmas second day Page 39 of 39

43 2. Κατά τις διατάξεις της παραγράφου 6.1 του Παραρτήµατος του Κανονισµού ΕΚ/1228/2003, όπως ο ΕΣΜΗΕ αποδώσει στους ιαχειριστές των συστηµάτων της Βουλγαρίας, της ΠΓ Μ και της Αλβανίας το 50% των καθαρών εσόδων του από την εκχώρηση σε µακροχρόνια και σε βραχυχρόνια βάση ικαιωµάτων Εισαγωγών και Εξαγωγών σε κάθε µία από τις αντίστοιχες διασυνδετικές γραµµές του Ελληνικού Συστήµατος, εφόσον η εκχώρηση των ανωτέρω δικαιωµάτων από τον ΕΣΜΗΕ αφορά το 100% της εκάστοτε ιαθέσιµης Ικανότητας Μεταφοράς των εν λόγω διασυνδετικών γραµµών. Ως καθαρά έσοδα ορίζονται τα έσοδα που αποκοµίζει ο ΕΣΜΗΕ από την εκχώρηση δικαιωµάτων µε ετήσιους, µηνιαίους και ηµερήσιους πλειοδοτικούς διαγωνισµούς, αφού αφαιρεθούν τα ποσά που ο ΕΣΜΗΕ καταβάλει σε δικαιούχους και τα οποία προκύπτουν από τη µεταπώληση µακροχρονίως εκχωρηθέντων δικαιωµάτων σε µεταγενέστερους βραχυχρόνιους διαγωνισµούς, σύµφωνα µε τους όρους των πλειοδοτικών διαγωνισµών που εγκρίνονται µε την παρούσα απόφαση ΡΑΕ. 3. Καλείται ο ΕΣΜΗΕ, στο πλαίσιο των αρµοδιοτήτων του κατά το Άρθρο 313, παράγραφος 3.(Α) του Κ Σ&ΣΗΕ, να εισηγηθεί όρους και κανόνες διαχείρισης της συµφόρησης στη διασυνδετική γραµµή µεταξύ Ελλάδας και Τουρκίας ενόψει της επικείµενης ένταξης της νέας αυτής γραµµής στο Ελληνικό Σύστηµα Μεταφοράς εντός του Αθήνα, 12 εκεµβρίου 2007 Για τη ΡΑΕ Ο ΠΡΟΕ ΡΟΣ Μ.Καραµανής