Energy News – 5th Issue- LAGIE

Energy News – 5th Issue- LAGIE

Energy Markets

SEE: Energy Community’s Annual Implementation Report


Greece: Introduction of the Risk Management of LAGIE for the Day Ahead Scheduling

On 7 October 2013, the Greek Regulatory Authority for Energy, accepting the proposal of the Electricity Market
Operator (LAGIE), amended the Power Exchange Code (the Code), the Manual for the Code (Decision no.
461/2013) and the Table of Required Guarantee Amounts for the participation in the Day Ahead Scheduling (DAS)
(Decision no. 462/2013). The main amendments, aiming to improve the operations of LAGIE and financial
discipline of the Electricity Market Participants, relate to introduction of the Risk Management Mechanism for DAS,
which should start operating from 31 October 2013. The Risk Management of LAGIE for the DAS is based on the
following principles: compulsory involvement all Participants in the weekly settlement mechanism; establishment of
a minimum guarantee for participation in the DAS for all Participants; establishment and control of daily credit limits
per Participant, not having production plants, and per dispatch day, through submission of guarantee letter or
deposition of the required amounts; providing of new model of Guarantee Letter for simplification of the procedures and

introduction of the Status of Pending Financial Obligations and payment/settlement of DAS transactions on a
daily basis. The new credit limits for the participation in DAS shall consist in the fixed minimum amount of € 50.000
and the variable amount calculated in accordance with the Table of Required Guarantee Amounts. A Participant
shall acquire the Status of Pending Financial Obligations if it fails to provide guarantees; by application of the
provisions on the Control of the Participants Position, or if it fails to pay its weekly or monthly obligations. The
penalty for remaining in the Status of Pending Financial Obligations for more than 4 consecutive working days
shall, after the control of the Participant’s position, be the termination of the electricity exchange agreement with

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Oil & Gas

EU: European Parliament decided on mandatory environmental impact assessment for shale gas
Poland: Mandatory trading in gas through a commodities exchange


Greece: New law introducing amendments to the legal framework for RES

Energy Licensing

Serbia: Amendments to energy permitting procedure for construction of energy facilities

Energy Infrastructure & Grids

EU: List of key energy infrastructure projects adopted by the European Commission

Energy Efficiency

Greece: Two model energy performance contracts published to the web


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