Supply of natural gas and the secondary market for access to the natural gas network

Amendment of the commitments

Article 25 par. 6 of L.3959/2011

Acceptance of amendments to commitments

DEPA S.A

The Hellenic Competition Commission (HCC), in plenary, decided unanimously and approved the proposal from DEPA to revise the commitments adopted with earlier HCC’s decision (No. 589/2014), and, in particular, to amend the point 14 "concerning the performance guarantee letter”, as follows:

“Regarding the performance guarantee letter 14a. In the context of the quarterly auctions, DEPA undertakes not to require from those of its Customers, who have overdue or settled debts, the submission of a letter of guarantee of good performance, in case the latter have already submitteda letter of guarantee, of at least equal value and validity, according to the provisions of the Contract of Sale of natural gas with DEPA (amendment accepted at the HCC plenary meeting of 17th December 2013).14b. In the context of annual auctions, DEPA is committed not to require from those of its Customers who have overdue or settled debts the submission of a letter of guarantee of good performance of more than 80% of the consumption value of natural gas  of 35 days. For the rest of the successful candidates in the annual auction, DEPA may request the submission of a letter of guarantee of good performance, amounting up to 100% of the consumption value of natural gas of 35 days. The validity of the letters of guarantee provided for in this paragraph shall be until 31 January of the year following the reference year of the annual auction.”

As for the rest, earlier HCC’s decisions 551/2012 and 589/2014 shall remain applicable.