Market Participation Guarantees

Based on the provisions of Articles 89 and 91 of the Power Exchange Code for Electricity (PECE), the Participants are obliged to fill-in the adequate guarantees in order to cover their obligations arising by the Energy Transactions Contract for Day-Ahead Scheduling (DAS).

The calculation methodology for the aforesaid guarantees and other issues related are described in the decisions of the Regulatory Authority of Greece listed below:

  •     Regulatory Authority Decision Nr. 1033/2011 (as it has been amended by the Regulatory Authority Decision Nr. 461/2013)
  •     Regulatory Authority Decision Nr. 159/2017

According to Article 91 of the PECE the obligation to fill-in the required guarantees is fulfilled either by submitting a Letter of Guarantee or by depositing an equivalent cash amount into a special bank account of LAGIE S.A. The details of LAGIE S.A bank account for depositing the equivalent cash amount of the necessary guarantees are as follows:

Beneficiary

Operator of Electricity Market S.A.

Bank

National Bank of Greece S.A.

Bank Account

191/470748-68

IBAN

GR79 0110 1910 0000 1914 7074 868

SWIFT

ETHNGRAA

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

 

New Participants
For new Participants registering into the Participants Register of LAGIE S.A. the amount of required guarantee related to the Energy Transactions Contract for DAS is set to 50.000€.