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ENERGY LAW
187
The Amendments to the Electricity Market Licensing
Regulation
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Att. Özgür Kocabaşoğlu
The Administrative Regulation on the Amendment of the Electricity
Market Licensing Regulation (“The Regulation”) published in the Official
Gazette with the number 27896 on 05.04.2011 and entered into force as
of the date of its publishing. The amendments set forth by this Regulation
are as follows:
Transfer of Generation and Auto Production Licenses
Pursuant to the Regulation, the legal entities who are the holder of
generation and auto production licenses are allowed to transfer their rights
and obligations to their successor legal entities through the takeover or
spin-off. In this framework, the successor legal entity will obtain a license
which maintains the consecutive effect of the former one. However, if
the shareholding structure of the legal entities has been restructured by
virtue of a share transfer, the licensing application will be rejected under
the stipulation introduced by the Regulation. The approval of the Energy
Market Regulatory Authority (“EMRA”) is mandatory for this transfer.
Payment of 1% of License Fee to EMRA’s Account in Advance
According to article 8 of the Regulation, an upfront payment of 1%
of the license fee to the statutory Authority, EMRA, imposed on the
license applicants in order to process the licensing application. Following
the payment of 1% of the license fee sum into EMRA’s account and
submission of payment confirmation document to the EMRA, the
evaluation process for license application will commence.
The Amendments to Minimum Capital Requirements
According to article 10 of the Regulation, while minimum capital of
a company for the generation license shall be equal to an amount which
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Article of April 2011