Participation Required Guarantees

According to the provisions of article 17 of the Forward Electricity Products Auctions Code (FEPAC), the Eligible Suppliers are obliged to fill-in the Required Participation Guarantees in order to participate in the Auctions for Forward Electricity Products.

The Energy Exchange calculates the amount of the aforesaid guarantees according to the provisions of article 17 of FEPAC taking into consideration the value of the Administratively Defined Forward Products Mean Distribution Factor which is defined by the relative decision of the Regulatory Authority of Greece. The amount of the Required Participation Guarantees is further announced in the Auction Specification.

  • Regulatory Authority Decision RAE 963/2018 for the determination of the Administratively Defined Forward Products Mean Distribution Factor.

According to article 17 of the FEPAC the obligation to fill-in the Required Participation Guarantees is fulfilled either by submitting a Letter of Guarantee or by depositing an equivalent cash amount into a special bank account of the Hellenic Energy Exchange S.A. (HEnEx S.A.). The details of HEnEx S.A. bank account for depositing the equivalent cash amount of the necessary guarantees are as follows:

Beneficiary

Hellenic Energy Exchange S.A.

Bank

National Bank of Greece S.A.

Bank Account

0440/02909-22

IBAN

GR49 0110 0440 0000 0440 0290 922

SWIFT

ETHNGRAA

In case of an equivalent cash collateral the bank transaction should be identified by a relevant Bank Transaction ID provided by the Energy Exchange.

The cash collateral amount deposit by the Eligible Supplier for the filling of the Required Participation Guarantees at the Forward Electricity Products Auctions should be verified by the Energy Exchange at least three (3) working days prior the day of the Auction. The same requirement exists in case of replacement or amendment of the Required Participation Guarantees.

The submitted Letter(s) of Guarantee should have the form and the content according to the following template:

The submitted Letter(s) of Guarantee should have the form and the content defined by the Energy Exchange and be issued by a bank legally operating in the European Union. The Letter(s) of Guarantee should be submitted to the Energy Exchange at least three (3) working days prior the Auction day. The same stands in case of amendment or replacement of the Letter(s) of Guarantee. If the above conditions are not met the Energy Exchange will not accept the submitted Letter(s) of Guarantee.