|
Bank guarantees must be sent to the address of the bank in charge of GME’s treasury
services:
|
Banca Popolare di Sondrio
Società Cooperativa per Azioni
Viale Cesare Pavese, 336
00144 – Roma
Alla c.a.: Ufficio Crediti
|
All the documents be submitted in the Italian language.
To submit requests for registering transactions and schedules onto the PCE, the
Participant must post a guarantee in the form of a first-demand bank guarantee,
meeting the requirements indicated in the Rules Governing the Forward Electricity
Account Trading Platform (“PCE Rules”). In particular:
- the bank guarantee must conform to the format of (Annex 3) to the PCE Rules;
- any updating of the amounts and/or the period of validity of the already existing
bank guarantee must me made by sending a letter updating the bank guarantee in the
format of (Annex 4) to the PCE Rules.
Electricity Market Participants that are at the same time PCE Participants may post
a bank guarantee in the format of Annex 3 or – alternatively or cumulatively – in the format
of Annex
7 to the Integrated Text of the Electricity Market Rules – hereafter
“ Electricity Market Rules”), as well as update its amount and/or
period of validity (in the case of bank guarantees posted in the format of Annex
7), by sending an updating letter in the format of Annex 4 or (in the case of a bank guarantee posted in the
format of Annex 7) in the format of Annex 8 to the Electricity Market Rules.
A Participant that has posted a bank guarantee in favour of GME in the format of
Annex 3 and/or Annex 7 to the Electricity Market Rules may allocate part
of such guarantee to cover financial obligations also on the PCE, by submitting
the allocation of bank guarantee MPE - MTE/CDE - PCE form or the
allocation of bank guarantee MPE - PCE form, respectively,
as indicated in the Technical Rules ( Technical Rule no. 04 rev2 ME; Technical Rule no. 10 rev2 PCE).
Transitional system – bank guarantees
posted in the format of Annex 5 to the Integrated Text of the Electricity Market
Rules in force until 31 October 2009
A Participant that has posted a bank guarantee in favour of GME in the format
of Annex 5 to the Integrated Text of the Electricity Market Rules, in force until
31 October 2009, may continue to use such guarantee (as per art. 138, para. 138.2
of the Integrated Text of the Electricity Market Rules) only for submitting adequate
bids/offers into the MPE or requests of registration onto the PCE. The updating
of the amounts and/or of the period of validity of such bank guarantee must be made
by sending a letter updating the bank guarantee in the format of Annex 8 to the
Integrated Text of the Electricity Market Rules, after having submitted the modification of bank guarantee MPE - PCE form to the
bank in charge of GME’s treasury services.
The Participant that has modified the bank guarantee to conform to art. 138, para.
138.2 of the Integrated Text of the Electricity Market Rules may allocate part of
such guarantee to cover financial obligations arising on the PCE, by submitting
the allocation of bank guarantee MPE - PCE form to GME as indicated in the
Technical Rules (Technical Rule no. 04 rev2 ME; Technical Rule no. 10 rev2 PCE).
If, instead, the Participant has not modified the bank guarantee to conform to art.
138, para. 138.2 of the Integrated Text of the Electricity Market Rules, he/she
may allocate part of the guarantee to cover financial obligations on the PCE, by
submitting the allocation of financial guarantee MPE - PCE before 31 October 2009
form (until the expiration of the period of validity and effect thereof) to GME.
The bank guarantee, the form modifying the bank guarantee or the related
updating letters must be submitted or sent (where possible, by registered letter
with return receipt or by courier) only to the bank in charge of GME’s treasury
services. Upon receipt, the bank will place a stamp on the document with the time/date
of receipt, which will become the “date of submission”.
|