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As it is known, electricity market operation activities are currently
conducted by Market Financial Reconciliation Center (“MFRC”)
organized under Turkish Electricity Transmission Joint Stock
Company (“TEIAS”) as per EML. The Draft Law foresees that a new
company is to be incorporated entitled the Energy Market Operation
Joint Stock Company (“EPIAS”) and the market operation activities
and the financial reconciliation activities of the organized wholesale
electricity market will be ceded to this company, and MFRC will be
transferred to this company with all its permanent staff and equipment.
The Conversion of the Auto Producer License to the Generation
License:
The “auto producer” and “auto producer group” licenses are not
explicitly regulated under the Draft Law. Instead, temporary Article 7
of the Draft Law sets forth that generation license will be automatical-
ly issued for the auto producer license holders without charging any
license fee until 31 December 2012 and the application which were
made for the auto producer license are to be considered and evaluated
under the terms of generation license applications
License Holder Companies
The Draft Law introduces some changes on the rules regarding the
management and shareholding structures of the license holder compa-
nies.
Share Transfers in License Holder Companies:
As it is known, according to Article 8 of the EML, in case of the
occurrence of a share transfer of the license holder companies
resulting in change in the shareholding more than ten percent or more
(five percent or more for public companies), merger or consolidation
of those companies, change of control in those companies, sale,
transfer or any type of change in the legal entity structure, it is
necessary to obtain the approval of EMRA, prior to the relevant
transaction.
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NEWSLETTER 2012