Each Participant is required, during the term of the Balancing Service Contract and/or the Balance Responsible Party Contract, to offer full guarantees for compliance with all its obligations arising from its participation in the Balancing Market. Each Participant subject to Deletion shall be required to offer full guarantees for compliance with all its obligations arising from the settlements provided for in this Rulebook and relating to the period of its active participation.

The obligation to provide full guarantee shall be fulfilled by submitting a letter of guarantee or by depositing an amount into a special account held by the HETS Operator, or in any other lawful manner to which the HETS Operator has consented.

Especially for the Letters of Guarantee, the Participants and Participants subject to Deletion fulfill the above obligations only if they fully comply with the template published by the Operator on its website.

In case of late submission of the Participants’ guarantees, a Non-Compliance Charge shall be imposed, the amount of which shall be determined taking into account, among other things, the days of late submission, in accordance with the specific provisions of the “Balancing Market Participation Guarantee Calculation Methodology”.

In case of non-fulfilment of the guarantee obligation, the HETS Operator shall immediately and by all appropriate means inform the Balancing Service Provider or the Balance Responsible Party. In the event that the Balancing Service Provider or the Balance Responsible Party does not provide the required guarantees within five (5) working days from the day on which it should have provided them, the HETS Operator shall terminate the Balancing Service Provider or Balance Responsible Party Service Contract, in accordance with the provisions of Article 4.4, paragraph 4 of this Rulebook. The same applies in case of partial or total forfeiture of the letter of guarantee or its expiry and its non-renewal or non-replacement by the Balancing Service Provider or the Balance Responsible Party.

 The methodology for determining the amount of guarantees and details on guarantees are provided for in the ‘Methodology for Calculation of Balancing Market Participation Guarantees’ , which is approved by the RAEWW following a proposal by the HETS Operator pursuant to the provisions of paragraph 4 of Article 18 of Law 4425/2016.