RULES
of the Electricity Auction to be Conducted by
MVM Partner Zrt., the Auctioneer
on 07 June 2017 on the Basis of Decision No. MEH 747/2011 (JPE)
(Decision No. MEKH 3304/2017)
1 / 14
Unofficial translation
Table of Contents
1.
RULES OF ELECTRICITY AUCTION ............................................................... 3
1.1
Introduction ...................................................................................................... 3
1.2
Purpose, Subject and Scope of Rules ............................................................ 3
1.3
Definitions......................................................................................................... 3
1.4
Terms and Conditions of Auction .................................................................. 8
1.4.1
Legal Rules ...................................................................................................... 8
1.4.2
Financial Conditions of Participation ............................................................ 9
1.4.3
Further Conditions of Participation ............................................................... 9
1.5
Products to Be Offered at the Auction ........................................................... 9
1.6
Preparations for Auction ................................................................................ 9
1.6.2
Auction Registration ..................................................................................... 10
1.6.2.1 Conditions of Auction Registration ......................................................... 10
1.6.2.2 Auction Registration Process .................................................................. 10
1.6.2.3 Bid Bond .................................................................................................... 10
1.7
Form and Administration of Auction ........................................................... 11
1.8
Announcement of Results ............................................................................. 11
1.9
Conclusion of Contract and Performance Bond ......................................... 11
1.10
Invalid Auction ............................................................................................... 13
1.11
Limitation of Liability ..................................................................................... 13
1.12
Postponement of Auction.............................................................................. 13
1.13
Contribution to the Reimbursement of Auction Costs ............................... 14
1.14
Governing Sectoral Laws and Rules ............................................................ 14
1.15
Miscellaneous Provisions ............................................................................. 14
Annexes:
1. Annexes Relating to Registration
1.1 Participation Statement and Registration Data Sheet
1.2 Bid Bond Statement
1.3 List of Banks Issuing Bank Guarantees Accepted by the Auctioneer
2. Annexes Relating to Conclusion of Contract
2.1 Power Purchase Agreement Template
2.2 Performance Bond Statement
3. Rules of Bidding
2 / 14
Unofficial translation
RULES OF ELECTRICITY AUCTION
1.1
Introduction
In order to implement the Decision No. MEH 747/2011 (JPE*) and pursuant to the
provisions of Act LXXXVI of 2007 on Electricity, the Auctioneer – in order to ensure
access to domestic generation capacities – sells the electricity available from its
contractual portfolio.
1.2
Purpose, Subject and Scope of Rules
The purpose of these Rules of Electricity Auction (hereinafter: “Rules”) is to present the
operation of the Auction published and to be carried out by the Auctioneer and set forth
the conditions and rules of participation.
The Rules provide information on the circle of participants, the services offered and the
procedure of use and carrying out the Auction. The Rules include, furthermore, the
contractual terms and conditions of the Power Purchase Agreement between the Seller
and the Buyer after successful bidding (Annex 2.1 to these Rules).
The scope of the Rules will be applicable to
 the Bidders wishing to participate in the Auction, defined in Section 1.3 of the
Rules, and the persons acting in the name and on their behalf;
 the Auctioneer offering products and services at the Auction and the natural
persons acting in the name and on its behalf as well as natural persons and legal
entities authorized by it and participating in the administration of the Auction.
The Rules have been drafted in full compliance with the provisions of Act LXXXVI of
2007 on Electricity (hereinafter: “Electricity Act”), Act V of 2013 on the Civil Code
(hereinafter: “Hungarian Civil Code”), other decrees associated with the Electricity Act,
the electricity supply rules and the decision of the HEO mentioned in Section 1.1 of
these Rules (Introduction).
The Auctioneer will publish the Invitation to Tender and the Rules in accordance with
Section 1.6.1 of these Rules at least 15 Business Days prior to the given Auction.
The Auctioneer will set the final deadline for the submission of the documents required
for registration in such a way that it may not be a date earlier than the 9 th Business Day
after the public announcement of the Auction.
1.3 Definitions
This section lays down the meaning and exact explanation of the terms used in these
Rules and the Annexes thereto.
*
Significant Market Power
3 / 14
Unofficial translation
The list does not include the terms defined in the Electricity Act, the laws in force and the
supply rules. They will be construed as defined in those norms.
Bid
A capacity requirement submitted by the bidders for the currently announced Product
according to Annex 3 to the Rules by specifying a Bid Price and the quantity of electricity
associated therewith.
Bid Price
The Bid Price is the price of the offered Product, which is increased by the Auctioneer in
every Auction Round in the first Stages of the Auction Sections, but is given by the
Bidders for the Products offered in the second Auction stage of the Auction Sections.
The Bid Price includes a capacity fee for the offered Product and an energy fee; its unit
of measure is HUF/MWh. The Bid Price is exclusive of VAT or other taxes, fees and
incidental charges.
Bid Bond
A financial bond defined by the Auctioneer, the intended purpose and availability rules of
which are set forth in Section 1.6.2.3 and the form of which is set forth in Annex 1.2
hereto.
Bid Commitment
The Bidder will be committed to its Bid for 12 Business Days after the announcement of
the results in accordance with the provisions of Section 1.6.2.3 of these Rules and
Annex 3 hereto.
(see Bid Bond Statement in Annex 1.2 hereto).
Bid Increment
The quantity for which or for the integral multiple of which quantity Bids may be
submitted for the actual Product. The minimum increment is 1 MW.
Bid Quantity
The quantity of electricity or electrical power for which the Bidder makes a Bid.
Bidder
All natural persons or legal entities registered by the Auctioneer for participating in the
Auction in accordance with the provisions of Sections 1.4.3 and 1.6.2 of these Rules,
who/which are entitled to purchase electricity according to the laws of Hungary, except
for Consumers that are eligible to use universal services.
Bidder’s Representative
During the Auction Registration, the office holder of the Bidder having the corporate
authority to act in the name and on behalf authorised to represent it and to sign
individually for the Company or a proxy authorised in writing by an officer/officers entitled
to represent the Bidder and to sign for the Company, whom the Bidder has designated in
a Participation Statement and on a Registration Data Sheet or has attached the relevant
power of attorney, may be entitled to represent the Bidder.
4 / 14
Unofficial translation
Bidding
Making a binding Bid including the Bid Quantity and the Bid Price of the given Product
on POWERFORUM in accordance with the provisions of Annex 3 hereto.
Auction Round
A unit of the individual Auction Stages during which all Bids are received during the
period specified for the individual Products and are evaluated, then the evaluation
results are announced.
Auction Stage
Two Auction Stages can be separated within the given Auction Sections. In the first
Stage, there is quantity bidding with Bid Prices increased by the Auctioneer in every
Round, while the Bidders are bidding for the whole or some of the remaining quantity in
the second Stage by stating a Bid Price and a Bid Quantity.
Auction Section
The Products to be put up for Auction are separated into individual Auction Sections.
The specifications of the Products to be put up for Auction in each Section are set forth
in the Invitation to Tender.
Delivery Point
In the case of the Product(s) announced during the Auction, the feed-in points of the
Hungarian transmission system (into a balance group in Hungary).
Seller
The Auctioneer, who enters into the Power Purchase Agreement, set out in Annex 2.1
hereto with the awarded Bidder after the Auction.
Awarded Quantity
The quantity of a given Product obtained by the Bidder during the Auction, of which the
Auctioneer sends an e-mail notice after giving prior notice through the platform of
POWERFORUM.
If the Awarded Quantity is purchased by an User, the Buyer will be obliged to buy, in
addition to the quantity of electricity purchased by it during the Auction, the quantity of
electricity associated with it, to be mandatorily purchased from the balance group
manager of the purchasing obligation regime scheme pursuant to Ss. 1 S. 13 of the
Electricity Act and allocated as per the rules set forth in the decree on the allocation of
the mandatory power purchase, from the Seller under a separate agreement at the
same price and under the same conditions as the Seller – in its capacity of balance
group manager – is obliged to overtake under the purchasing obligation regime scheme
pursuant to the legal rules.
Announcement of Results
Provision of information to the awarded Bidders about the Products awarded to them
during the Auction in accordance with Section 1.8 of these Rules.
5 / 14
Unofficial translation
Offered Quantity
The quantity of electricity offered per Product by the Auctioneer on the auction platform
POWERFORUM during the Auction according to the Invitation to Tender.
Consumer
A natural person or legal entity having Hungarian residency or headquartered in
Hungary who/which is not eligible to universal services with respect to his/her or its
electricity consumption, and has a balance group membership contract or an
independent balance group under the Trading Rules.
Initial Price
The Bid Price set by the Auctioneer. Its unit of measure is HUF/MWh. It is exclusive of
VAT or other taxes, fees and incidental charges.
Setting the exact Initial Prices will be the discretionary right of the Auctioneer, which will
be made public not later than on the day of the Auction, on the auction platform of
POWERFORUM, according to Annex 3 hereto.
Trader
A business entity having an electricity trading licence issued by the HEA or the
Hungarian branch office, of a foreign company headquartered in one of the Member
States of the European Union or another state which is a party to the European
Economic Area Treaty or a business entity holding a limited electricity trading licence
issued by the HEA, which does not entitle its holder to supply end-users directly.
Auctioneer
MVM Partner Energiakereskedelmi Zártkörűen Működő Részvénytársaság (MVM
Partner Zrt.) (Head office: 1031 Budapest, Szentendrei út 207-209., Hungary, company
register No.: 01-10-044818).
Cost Reimbursement Fee
A contribution to the reimbursement of the Auction costs in accordance with Section
1.13 of the Rules.
Bidding Process
The method of participation in the Auction, which takes place on the auction platform of
POWERFORUM in accordance with the provisions of Annex 3 hereto.
Bidding Amount
During the Auction, the Bidding Amount is equal to the product of the Bid Quantity (MW),
the length of the Supply Period (h) and the Bid Price (HUF). The Bidding Amount is
exclusive of VAT and other taxes, fees and incidental charges.
Maximum Bid Quantity
During the Auction, any Bidder may make a Bid for 100% of the Offered Quantity of
each Product, taking into account the limit set forth in Section 1.6.2.3 of the Rules.
6 / 14
Unofficial translation
Business Day/Non-business Day
As stipulated in the prevailing decree applicable to the working days in Hungary.
POWERFORUM
An Internet-based electronic trading platform operated by POWERFORUM ZRt.
(POWERFORUM Ltd.) (www.powerforum.hu) supporting electricity trade, the venue
used to carry out Auctions.
Auction
An Electricity Auction described in these Rules and announced by the Auctioneer
pursuant to the statutory provisions specified in Sections 1.1 and 1.2 of the Rules and
the decisions of the HEA.
The Auction will be carried out on the auction platform of POWERFORUM in accordance
with Annex 3 hereto. The language of the procedure will be Hungarian, and all
communication and documents issued and requested to be submitted in connection with
the Auction will be made or written in Hungarian.
Bidder
All natural persons or legal entities that are entitled to purchase electricity according to
the laws of Hungary, except for Consumers that are eligible to use universal services.
Auction Registration (Registration)
The first phase of registering to the Electricity Auction, during which the Bidder proceeds
in accordance with the terms laid down in Sections 1.4.3 and 1.6.2 of the Rules.
POWERFORUM Registration
Upon the fulfilment of the conditions of the Auction Registration, the Bidder is has to
register in the auction platform of POWERFORUM for the purpose of, and for the period
of participation in the Auction.
Pro-rata Allocation
A procedure applicable in the last (10th) Auction Round of the first stage of the Auction
Sections in the case of oversubscription and in the second stage of the Auction Sections
in the case of oversubscription, where Bid Prices are identical and demand can be met
partially, according to which the Awarded Quantities are allocated among the Bidders in
proportion to the valid Bid Quantities determined according to Section 1.6.2.3, taking into
account the Bid Bond.
Registration Code
The code received by the Bidder during the Registration. It is used to identify the Bidder.
Participation Statement and Registration Data Sheet
A statement to be filled out during the registration procedure of the Auction (Annex 1.1
hereto), in which the Bidder indicating its intent to participate makes a declaration on
accepting the terms of participation on the Auction and gives its company details .
7 / 14
Unofficial translation
Supply Period
The period stated in the Invitation to Tender.
Performance Bond
The presentation of a Performance Bond is a condition precedent for signing a Power
Purchase Agreement with the Awarded Bidders of the Auction, the purpose, delivery and
enforcement of which are laid down in Section 1.9. Its form is an irrevocable bank
guarantee of a specific amount, the statement sample of which is set forth in Annex 2.2
hereto.
Product(s)
The Product(s) specified in the Invitation to Tender will be announced separately in the
order specified by the Auctioneer on the auction platform of POWERFORUM.
Electricity Act
Act LXXXVI of 2007 on Electricity.
Buyer
The awarded Bidder with whom the Auctioneer enters into the Power Purchase
Agreement set out in Annex 2.1 hereto after the Auction.
Power Purchase Agreement
An agreement concluded between the awarded Bidder and the Auctioneer, which sets
forth the contractual terms and conditions of the sale and purchase of the electricity sold
at the Auction. The Power Purchase Agreement is identical with the template of the
Power Purchase Agreement published on the website of the Auctioneer as Seller and
POWERFORUM. Pursuant to Section 13(1) of the Electricity Act, with regard to the
mandatory purchase by the User from the Seller – as a balance group manager – of the
quantity of electricity to be mandatorily purchased by the Seller from the manager of the
balance group of mandatory power purchase in respect of the Awarded Quantity,
separate provisions apply to electricity traders and electricity consumers.
Every awarded Bidder is obliged to enter into the Power Purchase Agreement as set out
in Annex 2.1 hereto with respect to the awarded Products and quantities. (“Sample
Contract”)
1.4
Terms and Conditions of Auction
1.4.1 Legal Rules
In order to achieve the statutory purpose stipulated in the introduction, the Auctioneer
carries out the auction procedure on POWERFORUM by using the method of bidding
defined in Annex 3 hereto. The Auction may only be carried out in full compliance with
the terms and conditions defined in the Invitation to Tender and the Rules. The
Auctioneer will enter into a discrimination-free bilateral contract defined in Annex 2.1
hereto providing the same conditions for all awarded Bidders.
Pursuant to Section 6:64 of the Hungarian Civil Code, the Bid submitted by the Bidder at
the Auction will be deemed a bid aimed at the conclusion of an agreement, to which the
8 / 14
Unofficial translation
Bidder will remain bound for 12 Business Days following the Announcement of the
Results.
1.4.2 Financial Conditions of Participation
The Bidders
 will submit a Bid Bond during the Auction Registration (Section 1.6.2.3) in the
form of a bank guarantee (Annex 1.2 hereto),

in case of an awarded Bid, will provide the Performance Bond required for
entering into the Power Purchase Agreement (Section 1.9) in the form of a bank
guarantee (Annex 2.2 hereto).
1.4.3 Further Conditions of Participation
The Bidders will submit to the Auctioneer the documents required for the Auction
Registration within the deadline set by the Auctioneer in the Invitation to Tender subject
to the provisions of these Rules, that is,
– the “Participation Statement and Registration Data Sheet” (Annex 1.1 hereto),
– the Bid Bond (Annex 1.2 hereto).
A bidding limit of the amount corresponding to 30 times the Bid Bond of the Bidder will
be set on the auction platform of POWERFORUM three Business Days prior to the
Auction, thus the Bidders can verify whether the set limit is appropriate. The Bidder may
inform the Auctioneer about the fact of verification and inform the Auctioneer if there is
any difference not later than by 10:00 a.m. on the second Business Day preceding the
Auction. The consequences of failing to provide such information will only be borne by
the Bidder.
1.5
Products to Be Offered at the Auction
The Products to be offered at the Auction are set forth in the Invitation to Tender.
1.6 Preparations for Auction
1.6.1 Announcement of Invitation to Tender The Invitation to Tender will be published
on the websites www.mvmp.hu, www.powerforum.hu and www.mvm.hu. The contact
person designated by the Auctioneer will provide information about the Auction and
other questions:
Ágnes Mados
MVM Partner Zrt. (MVM Partner Ltd.)
Auction Coordination Department
1031 Budapest
Szentendrei út 207-209.
Hungary
Tel.: +36 (1) 304-2229, 304-2104, 304-2314
9 / 14
Unofficial translation
Fax: +36 (1) 202-1591
E-Mail: [email protected], [email protected]
The publicity of the Auction only applies to the Auction Registration procedure, the other
parts of the Auction are confidential. The Auctioneer will make available the questions of
public interest asked by the Bidders by e-mail and the answers thereto to all Bidders on
the website of POWERFORUM.
1.6.2 Auction Registration
1.6.2.1
Conditions of Auction Registration
Only Bidders registered by the Auctioneer in accordance with these Rules and fulfilling
the eligibility criteria set forth in Sections 1.4.2 and 1.4.3 and have forwarded the
documents defined in Section 1.6.2.3 as described in Section 1.6.2.2 to the Auctioneer,
may participate in the Auction published by the Auctioneer.
1.6.2.2
Auction Registration Process
The Bidder will deliver to the Auctioneer the duly signed Participation Statement and
Registration Data Sheet (Annex 1.1 hereto) and the Bid Bond defined in Section 1.6.2.3
(Annex 1.2 hereto in a sealed envelope, in person or via regular mail, until the date
stated in the Invitation to Tender at the latest. If the above documents are received late,
after the date specified in the Invitation to Tender, the Auctioneer will return them
unopened.
During Registration, the Bidder will simultaneously register for the given Auction on the
auction platform of POWERFORUM in accordance with the contents of the “User
Manual
for
POWERFORUM
Auctions”
(available
at:
www.POWERFORUM.hu/Dokumentumtar).
The Auction Evaluation Committee will open the registration applications at a closed
meeting, and will accept or refuse the Auction Registration depending on the fulfilment of
the conditions. Minutes will be drawn-up of the evaluation. The Auctioneer will confirm
the fact of acceptance or refusal of Auction Registration to the Bidder in writing (by email or fax) within two (2) Business Days after the registration deadline. The Auctioneer
will provide reasoning for the refusal.
It is not possible to supplement documents. If the Bidder fails to submit the complete
Auction Registration documentation to the Auctioneer within the prescribed deadline, the
Auctioneer will refuse the Auction Registration definitively.
In the case of less than two registered Bidders, the Auctioneer will declare the Auction
Registration process unsuccessful and will not hold the Auction.
1.6.2.3
Bid Bond
The Bid Bond will be the bank guarantee set forth in Annex 1.3 hereto, issued by a
Hungarian bank in favour of the Auctioneer as beneficiary, with a text identical with that
defined in Annex 1.2 hereto. If the wording of the Bid Bond deviates from the sample set
forth in the Annex hereto, it will be deemed a violation of the regulations laid down in the
Auction Rules, and the Auctioneer will refuse to accept it.
The amount of the Bid Bond will be determined by the Bidder, but the minimum amount
thereof will be HUF 10,000,000, say ten million Hungarian forints.
10 / 14
Unofficial translation
Enforcement of the Bid Bond as earnest money: The Bid Bond will be due to the
Auctioneer under the legal title of earnest money if the awarded Bidder does not enter
into the Agreement defined in Annex 2.1 hereto for any reason with regard to the
Product that it was bidding for and that was awarded to it, and/or does not submit the
Performance Bond defined in Annex 2.2 hereto, associated with the agreement
concluded as a result of the Auction, to the Auctioneer in accordance with Section 1.9
hereto. When the Bid Bond is enforced as earnest money, the bank of the Bidder will, at
the request of the Auctioneer, transfer one-thirtieth of the value of the Awarded Quantity
out of the amount included in the Bid Bond provided in the form of a bank guarantee,
but minimum HUF 10,000,000, say ten million Hungarian forints, to the bank account of
the Auctioneer.
Furthermore, the Bid Bond will be used as a cover also in case of the non-payment of
the Cost Reimbursement Fee defined in Section 1.13 hereto. If the awarded Bidder fails
to meet its obligation to contribute to the reimbursement of the auction costs, the
Auctioneer will be entitled to enforce its aforementioned claim at the expense of the Bid
Bond of the awarded Bidder in accordance with Section 1.13.
The Bid Bond will form the basis of the upper limit of the amount of bids for the products
announced during the Auction: At the Auction, every Bidder may make a Bid in the HUF
amount of maximum 30 times the submitted Bid Bond as a valid Bid of the highest
amount (in total during the entire Auction).
If the Bidder did not make a Bid in the last round of the first Stage of the Sections or in
the second Stage, the Auctioneer will return the bank guarantee statement serving as a
basis for the Bid Bond not earlier than on the Business Day following the Auction.
1.7 Form and Administration of Auction
The Auction announced through the Invitation to Tender will be carried out on the
auction platform of POWERFORUM in accordance with Annex 3 hereto.
The Auction will be carried out in one time. Any registered Bidder will be entitled to
participate in the Auction.
1.8 Announcement of Results
The Announcement of the Results will take place in accordance with Annex 3 hereto.
The announcement of the Product will be deemed unsuccessful if no Bid is received in
the first Auction Round until the end of the period available for Bidding, that is, there is
no demand for it.
1.9 Conclusion of Contract and Performance Bond
In accordance with the obligation of the Bidder to enter into an agreement, eight (8)
Business Days from the Announcement of the Results will be available to the parties to
enter into the “Power Purchase Agreement” set out in Annex 2.1 hereto. The availability
11 / 14
Unofficial translation
of the Performance Bond will be a condition precedent of the conclusion of the Power
Purchase Agreement, which the awarded Bidders will obtain within this period as
defined in this Section and will deliver to the Auctioneer .
If the awarded Bidder(s) withdraws (withdraw) from entering into the Power Purchase
Agreement in relation to the Product bid for and awarded to it (them) during the period
available for the conclusion of the Agreement, does (do) not enter into it within the
specified period and/or does (do) not fulfil the conditions required for the conclusion of
the agreement, the Auctioneer will be entitled to use (call in) the Bid Bond submitted at
the time of Auction Registration to its own benefit in accordance with the provisions of
Section 1.6.2.3.
Terms of Performance Bond
The awarded Bidder may also use the bank guarantees of more than one guarantor
bank as financial collateral at the same time.
The Auctioneer will only accept an original, authentic bank guarantee submitted with the
text of the “Performance Bond” defined in Annex 2.2 hereto, signed in accordance with
the rules of corporate signature,
 which is issued by a bank accepted by the Auctioneer (Annex 1.3 hereto);
 the amount of which is stated in Hungarian forints;
 which is for an amount corresponding to the six-week’s supply value of the
Product(s) acquired by the awarded Bidder, inclusive of VAT (taxes, fees
and incidental charges) (in the case of monthly Products or Products
supplied for shorter periods, it is adjusted to the Supply Period);
 which is valid for a definite period;
 which is revolving as defined in the agreement;
 in which MVM Partner Zrt. is named as beneficiary; and
 the bank undertakes to unconditionally fulfil the claim submitted by MVM
Partner Zrt. not later than within three banking days.
If the wording of the Performance Bond is different from the template set forth in the
Annex hereto, it will be deemed a violation of the provisions laid down in the Auction
Rules, and the Auctioneer will refuse to accept it.
If the awarded Bidder opens the Performance Bond for the whole quantity to be supplied
(e.g., in the case of monthly Products), the Auctioneer will be entitled to dispense with
the application of the last paragraph of the Performance Bond sample defined in Annex
2.2 hereto, that is, prescribing mandatory replenishment.
If bankruptcy or liquidation proceedings are instituted against the bank issuing the bank
guarantee, a receiver is appointed to the bank, its accounts are frozen or a situation
develops on the basis of which the Auctioneer is expected to be unable to enforce the
bank guarantee, the Auctioneer may request, even before the expiry thereof, the
replacement of the bank guarantee with a bank guarantee provided by another bank or
with other collateral.
12 / 14
Unofficial translation
Enforcement of Performance Bond
The bank guarantee will be enforced by the Auctioneer through a notice to the bank
issuing the bank guarantee.
The Auctioneer will use the bank guarantee up to the debt of the Buyer.
The Auctioneer will inform the Buyer about the fact of the use of the Performance Bond,
the amount used and the legal title thereof. Thereafter, the Buyer will ensure the
appropriate replenishment of the Performance Bond.
Any cost arising as a result of the use of the bank guarantees will be borne by the Buyer
which does not render contractual performance.
1.10 Invalid Auction
The Auctioneer may declare the Auction published by the Auctioneer for the given
Product as invalid if, during the Auction, unforeseeable technical problems arise that the
Auctioneer is unable to overcome. In this case, the Auction will be held at a later
announced date. The rules laid down in this Invitation to Tender and the Rules will apply
to such Auction in an unchanged form. The part of the Auction preceding the occurrence
of the technical problems and conducted in accordance with the rules will be valid
irrespective of the postponement.
1.11 Limitation of Liability
The Auctioneer does not assume liability for the functionality of POWERFORUM. The
unavailability of the website as a result of the possible deficiencies or malfunction
thereof as well as the malfunctions of the website, the Internet, the network used for the
purpose of data transmission and the IT devices and tools provided by the Bidders may
not be regarded as a default by the Auctioneer, therefore, the Auctioneer hereby
excludes its liability for indemnification which may arise therefrom. In the case of any
deficiency or malfunction of the website or any malfunction of the Internet, the
Auctioneer will be entitled to suspend the Auction, and if the fault cannot be eliminated
within 10 minutes, the Auctioneer may postpone the Auction.
The Bidder will acknowledge the exclusion of liability by registering for the Auction and,
at the same time, will waive any claim for indemnification arising from the malfunctions
of the website.
1.12 Postponement of Auction
If the event indicated in Sections 1.10 and 1.11 of these Rules occur, the Auctioneer will
hold the Auction at a later date, within not later than five Business Days after the
Auction, to which the rules applicable to the (original) Auction specified in Section 1.1
will apply in an unchanged form.
13 / 14
Unofficial translation
1.13 Contribution to the Reimbursement of Auction Costs
The Auctioneer wishes to have the costs of the Auction organised to implement Decision
No. MEH 747/2011 (JPE) through the payment of a Cost Reimbursement Fee in such a
way that the awarded Bidders will pay the Auctioneer HUF 0.01 /kWh for the Quantity
Awarded to them.
After the Auction, the Auctioneer will inform the awarded Bidders about the exact
amount of the Cost Reimbursement Fee payable by them, for which it will make out an
invoice, and will send it to the awarded Bidders on the same day by fax, then will send
the original copy by post. The awarded Bidder will pay the invoice made out for the Cost
Reimbursement Fee within the deadline of eight Business Days available for the
conclusion of the Power Purchase Agreement. If the awarded Bidder fails to fulfil its
above obligation, the Auctioneer will be entitled to enforce its claim at the expense of the
Bid Bond of the awarded Bidder up to the amount stated in the above invoice.
1.14 Governing Sectoral Laws and Rules
Act LXXXVI of 2007 on Electricity (Electricity Act), Government Decree No. 273/2007
(X.19.) on the implementation thereof (Implementation Decree), Government Decree No.
389/2007 (XII.23.) Korm. on the Mandatory Purchase and Dispatch Price of Electricity
Generated from Energy Obtained from Renewable Energy Sources or Wastes and of
Cogenerated Electricity, Government Decree No. 63/2013 (X.29.) on the Distribution of
Electricity Subject to a Mandatory Power Purchase Obligation by the Transmission
System Operator and the Method of Fixing the Prices Applicable during Such
Distribution, and the Supply Rules defined in Section 3, paragraph 67 of the Electricity
Act.
1.15 Miscellaneous Provisions
In order to conduct the Auction successfully, the Evaluation Committee will be entitled to
make the required decisions on unforeseeable issues not regulated in these Rules at
any time during the Auction.
14 / 14
Unofficial translation