ENCLOSURE 5/Q
AGREEMENT PROPOSAL – REQUEST TEXT (ARTICLE
11.6, LETTER C,
RESOLUTION ARG/gas 45/11)
(on the letterhead of the User)
Snam Rete Gas S.p.A.
Piazza Santa Barbara 7
c.c. Stogit S.p.A.
SUBJECT: ARTICLE 11.6, LETTER C, RESOLUTION AEEG ARG/gas 45/11
AGREEMENT PROPOSAL – REQUEST
[COMPANY NAME], with registered office in _______, share capital ___________ Tax
Code and VAT reg. no. ______________, Economic and Administrative Index no.
________________represented by _______ in the capacity as _________ hereafter
called USER
WHEREAS
a) Resolution ARG/gas 45/11, “Regulation for the financial balancing of natural gas”
(hereafter Resolution), introduced a balancing system based on market criteria;
b) the Resolution entrusts Snam Rete Gas S.p.A. (hereafter SNAM), as Italy’s leading
transmission company, with the role of balancing manager;
c) the USER is the user of the natural gas transmission and balancing service;
d) consequently to the conferment request and based on the outcome of a specific
process, SNAM conveyed the USER the natural gas transmission capacity for the
gas year for transmission (1 October 20__/30 September 20__);
e) the USER entered into a storage contract with __soc stocc__, a company engaged
in natural gas storage activities, for the gas year for storage (1 April 20__/31
March 20__), enclosed hereto (sub Enclosure 1);
f) according to article 11.1 of the Resolution: “The balancing manager organises and
manages a system of guarantees based on methods and conditions established by
its network code in compliance with the criteria defined in this article.”;
g) pursuant to article 11.2 of the Resolution, SNAM, according to criteria and
methods established by the same Resolution, determines the maximum exposure
of each user towards the balancing system (hereafter MEPSu);
h) art. 11.6 defines the MEPSu on the basis of the extent and type of the guarantees
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provided by the same USER, which include: “a) financial and bank guarantees, b)
rating issued by credit institutions, c) the user’s stock storage offered as
guarantee, also in the form of pledge; this guarantee is admitted by the balancing
manager on the user’s request only based on a specific agreement.”;
Now, therefore the USER:
1) DEMANDS
in order to be able to exercise the right under the mentioned article 11.6, letter c)
and in agreement with the provisions of Chapter 5, paragraph 1.4 of the Network
Code, to be authorised to manage the Gas under Guarantee, which through the
Capacity Portal, will enable the User to provide, in favour of SNAM in its capacity as
balancing manager, and as a guarantee of the same balancing service, a guarantee
(hereafter
Storage
Guarantee)
comprising
owned
gas
(hereafter
Gas
under
Guarantee) located in the storage system of ________, and thus made binding and
unavailable for the entire period of validity of this agreement proposal.
To this end, the USER:
2) DECLARES TO BE AWARE THAT
(i)
the Gas under Guarantee that will be the subject of the request must be
physically present in the aforementioned storage system,
(ii)
the Gas under Guarantee that will be the subject of the request may not have
already been committed in the form of guarantee towards third parties.
(iii)
this agreement proposal will be accepted or rejected according to the methods
and terms specified in paragraph 1.4.2 of chapter 5 of the Network Code,
(iv)
the quantity of Gas under Guarantee may be increased or decreased according
to the procedures set in paragraph 1.4.2 of chapter 5 of the Network Code.
3) GIVES SNAM RETE GAS AN IRREVOCABLE MANDATE
for the latter to be able to perform the actions below, provided that the assumptions
for the enforcement of the guarantee, as provided for by the Network Code in
Chapter 5, paragraph 1.4.4 and Chapter 19, paragraph 3.3, are met:
(i)
request and obtain the physical availability of the enforced Gas under
Guarantee from __soc stocc__;
(ii)
sell the enforced Gas under Guarantee in the name and on the behalf of the
User;
(iii)
recover its credit directly from the sale proceeds.
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It shall be understood that, in case of partial enforcement and contextual termination
of the Transmission Contract, the Gas under Guarantee not enforced shall be made
fully able to the USER.
xxx
The undersigned expressly accepts that the activities of coordination with the Storage
Companies described in Chapter 15 “Operating coordination” in relation to the data
concerning the balancing service, including the access of Snam Rete Gas in read-only
mode to the data of the Service functional users, are a necessary pre-requisite for the
acceptance of the agreement proposal under this paragraph.
This agreement shall be valid until the end of the sixth month following the
termination of the effects as established by the transmission contract mentioned in
the introduction, and thus until 31 March 20__. This agreement shall be automatically
renewed until 31 March of the subsequent year if the user, before the termination of
the effects of the aforementioned contract, signs a new transmission contract.
Date and place
STAMP AND SIGNATURE
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