Final Version Of Draft New Electricity Law

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1 Final Version Of Draft New Electricity Law Herein below is the final version of the draft new electricity law which was approved by the Legislation Department at the State Council and referred to the Government for the purpose of completing the related promulgation procedures, i.e., submission of the final version to the Presidency for adoption. This draft electricity law, as described in the related explanatory memorandum, aims at raising the performance efficiency and service level of the companies operating in the field of production, transmission, distribution and sale of electricity. For this purpose, it intends to hold free and legitimate competition, to create appropriate atmosphere that attracts investments to the electricity sector in order to cope with the increasing demand for electric power and to confirm the principles of transparency, antimonopoly and anti-favoritism. The Present Draft Law Stipulates That A.R.E President Decree Law No ( ) of 2015 Promulgating Electricity Law President of the Republic After reviewing the Constitution, Law No. 308 of 1955 on Administrative Attachment, Law No. 87 of 1960 on Public Mobilization, Law No.63 of 1974 on Electricity Sector Foundations, Law No. 12 of 1976 on the Establishment of the Egyptian Electricity Authority, Law No. 13 of 1976 on the Establishment of the Nuclear Power Plants Authority, Law No. 55 of 1977 on the Establishment and Operation of Thermal Machines and Steam Boilers, Local Administration System Law No. 43 of 1979, Joint Stock, Limited by Shares and Limited Liability Companies Law No 159 of 1981, 1

2 Law No. 102 of 1986 on the Establishment of the New and Renewable Energy Development and Utilization Authority, Law No. 10 of 1990 on the Appropriation of Real Estates for Public Utility, Capital Market Law No. 95 of 1992, Investment Incentives and Guarantees Law No. 8 of 1997, Law No. 18 of 1998 Promulgating Some Provisions on Electricity Distribution Companies, Power Generation Plants and Transport Networks and Amending Some Provisions in Law No. 12 of 1976 on the Establishment of the Egyptian Electricity Authority, Central Depository and Registry of Securities Law No. 93 of 2000, Law No. 164 of 2000 on the Transformation of the Egyptian Electricity Authority into an Egyptian Joint Stock Company Named "The Egyptian Electricity Holding Company", Competition Protection and Anti-Monopolistic Practices Law No. 3 of 2005, Construction Law No. 119 of 2008, Nuclear and Radiation Activities Regulatory Law No. 7 of 2010, Decree-Law No. 203 of 2014 on Enhancing the Electricity Production from Renewable Energy Sources, The Cabinet's Approval, and The Opinion Given by the State Council, The Following Law Is Hereby Decreed Article One The provisions of the Electricity Law hereto attached shall apply for the purpose of regulating all the activities and works of the electricity utility. Article Two The Electricity Utility and Consumer Protection Regulatory Agency which was established under Presidential Decree No. 339 of 2000 shall be reorganized in the manner prescribed in the Law hereto attached. Article Three 2

3 The Minister having competence over electricity and renewable energy affairs shall issue the Executive Regulations of the Law hereto attached within six months from the validity date thereof. The authorities operating in the electricity utility shall conciliate their positions in conformity with the provisions of the Law hereto attached within six months from the date of issuance of the Executive Regulations, unless other grace period(s) are set forth in the said Law. Article Four Law No. 63 of 1974, Paragraph (H) of Article Two of Law No. 55 of 1977 referred to herein above, Presidential Decree No 339 of 2000 reorganizing the Electricity Utility and Consumer Protection Regulatory Agency and all other provisions to the contrary of the Law hereto attached shall hereby be repealed. Article Five The present Decree shall be published in the Office Gazette and be in force and effect as of the day following publication date thereof. President of the Republic 3

4 Electricity Law Chapter One Definitions Article One For the purpose of applying the provisions of the present Law, the following terms and expressions shall have the meanings described adjacent thereto Ministry : Competent Minister: Agency: Administrative Entity: Authority: The Ministry having competence over electricity and renewable energy affairs. The Minister having competence over electricity and renewable energy affairs. The Electricity Utility and Consumer Protection Regulatory Agency The competent local administration units. The New and Renewable Energy Development and Utilization Authority. 4

5 Electricity Utility Stakeholders: The Egyptian Electricity Holding Company: Ultrahigh Voltage: High Voltage: Medium Voltage: Low Voltage: Transmission Network: Distribution Network: Renewable Energy: Electricity Production Companies: Electricity Distribution Companies: Permission: License: Permission Fee: License Fee: All the entities operating in the production, transmission and operation of the electricity transmission, distribution and sale network. A company established under Law No. 164 of 2000, as referred to herein above. Voltage of 132 KV or more. Voltage ranging from 33KV up to 66KV. Voltage higher than 1KV up to less than 33KV Voltage up to 1 KV Electric networks with ultrahigh and high voltages. Electric networks with medium and low voltages. A natural energy that is subject to no depletion and may be used to produce electricity. Companies licensed to produce electricity using primary sources and sell electricity to network operators, subscribers or authorized distributors. Companies licensed to distribute and sell electricity using medium and low voltage networks. An instrument issued by the Agency to start construction or conduct expansion of electricity activities. An instrument issued by the Agency to start exercising electricity activities after obtaining the Permission. A monetary value paid by a Permission applicant to the Agency to obtain Permission and/or renew the annual validity term thereof. Permission Fee is determined by the Agency Board of Directors, provided that it shall not exceed the maximum limit set forth herein. A monetary value paid by a License applicant to the Agency to obtain License and/or renew the annual validity term thereof. License Fee is determined by 5

6 Network Operator: Market Operator: Supplier: Authorized Distributor: Electricity Transmission: Consumer: Subscriber: Qualified Subscriber: Unqualified Subscriber: Tariff: Electricity Competitive the Agency Board of Directors, provided that it shall not exceed the maximum limit set forth herein. The Egyptian Electricity Transmission Company A unit with independent financial and administrative status, located in the premises of the Egyptian Electricity Transmission Company. Market operator is assigned to manage the competitive market, organize the offer and demand bids in the market and conduct accountancy and settlement activities, according to trade and settlement rules approved by the Agency. The electricity production companies or their authorized distributors. Each and every person duly licensed to conduct electricity purchase, sale or service transactions in the name and for the interest of producers, distributors or subscribers. Transmission of electricity on ultrahigh and high voltage networks. Each and every natural or legal person who use or benefit from the electricity services. The consumer who enters into a contract with an electricity utility stakeholder. Each and every subscriber who is at liberty to select its electricity supplier. Each and every subscriber who is at no liberty to select its electricity supplier. The electricity sale prices set by the Agency for the Unqualified Subscribers on all voltages and for all uses, in accordance with the Agency-approved general feeding quality standards and pricing conditions. A free competition-based market through which a 6

7 Market: Qualified Subscriber may enter into bilateral contracts with production companies and authorized distributors to obtain the required quantities of electricity. Electricity Competitive Market further includes transactions for balancing energy and other assisting services. Organizing Market: A market in which the Electricity Utility Stakeholders and the Unqualified Subscribers enter into transactions with each other using form contracts and a tariff set by the Agency. Illegitimate Competition: An action taken by an Electricity Utility Stakeholder which leads to limiting, restricting or prejudicing free competition. Trade and Settlement Rules: The rules on which trade transactions are conducted between Electricity Utility Stakeholders. These rules are referred to in Article (33) of the present Law. Recovered Energy: The potential energy of the various types of wastes, which may be reused for production of electricity. Assisting Services: Services procured from electricity production companies for safe and stable operation of the transmission networks, including the provision of the energy required to make up for the electric losses and control the voltage and other alternative production capacities or otherwise. Balancing Energy: An electric power purchased by a Network Operator for the interest of a production licensee or a qualified subscriber with the aim of keeping the stability of an electricity transmission network. Electric Source Certificate: An instrument issued by the Agency for each MW/Hr to prove that the electric power is produced from a renewable energy source. The certificate aims to notify the end-consumer of the electric power source. The electric source certificate remains valid for 7

8 Electric Power Strategy: Electric Power Policy: twelve months, and may be traded separately from the electric power produced from the renewable energy source. A strategy to be prepared by the Ministry and approved by the Cabinet. It aims to identify the electricity sector targets and the appropriate means to achieve these targets and ensure sustainable development at medium and long range. The overall policies developed by the Ministry for the Electricity Sector to implement an Electric Power Strategy including plans and programs that create a suitable institutional framework, secure electric power supplies, encourage investments, research and development, raise efficiency, protect competition, preserve the environment and enhance cooperation with the other countries in the field of electricity. Chapter Two Regulation of Electricity Utility Section One The Electricity Utility and Consumer Protection Regulatory Agency Article Two The Electricity Utility and Consumer Protection Regulatory Agency ("Agency") is public authority acting independently from the Electricity Utility Stakeholders. It has legal personality and a head office in the city of Cairo. By an Agency Board resolution, the Agency may establish branches or offices inside the Republic. Article Three The Agency aims to organize, follow up, monitor and develop all the electricity activities, including electricity production, transmission, distribution and/or consumption. This is to ensure availability, efficiency and quality of electricity and that electricity needs in the various uses thereof are all met at suitable prices. The 8

9 Agency further aims to preserve environment, attract investments within a framework of free, legitimate competition and without prejudice to the interest of the consumers and the other Electricity Utility Stakeholders. It, moreover, plans to provide information without favoritism and act within a framework of equality and free competition. Article Four The Agency, for the purpose of achieving its objectives, shall undertake all actions and activities required, in particular, to: 1. Set plans, programs, rules and means of management conforming to the Agency activities. 2. Set general principles and rules governing the Electricity Utility Stakeholders, securing their interest and the interest of consumers and enhancing free competition. 3. Set proper economic rules and principles to calculate the electricity sale tariff for Unqualified Subscribers, the electricity exchange prices in the Organizing Market and the consideration for utilizing the Transmission and Distribution Networks within a framework of justice and transparency, and to further have these rules and principles approved by the Cabinet and notified through the Agency. 4. Set rules and procedures ensuring due protection of the Consumer rights. 5. Confirm that electric power is securely supplied to Consumers, through careful review- in coordination with the authorities of concern- of the investment plans that apply to the electricity production, transmission and distribution. 6. Set technical quality principles and other standard measures on the performance of the various electricity services. 7. Monitor the scope of availability of the technical, financial, economic and administrative efficiencies that are required by the Electricity Utility Stakeholders, with the aim of achieving sustainability and quality of services. 8. Set an electricity sale tariff for Unqualified Subscribers, covering the various voltages and all uses, fix electricity exchange prices in the Organizing Market and approve consideration for using the transmission and distribution networks, provided that such activities shall be undertaken within a framework of equality, justice and according to the previously declared economic rules and principles as referred to in Clause (3) herein. 9

10 9. Approve any changes in equity or in the controlling interest of the assets of licensees, and approve any liquidation procedures. 10. Impose any of the penalties set forth in Article (23) of the present Law, in case of violating the legitimate, free competition rules or the transparency and equal opportunity principles. 11. Set the rules and procedures required to develop and encourage the production and use of the electricity derived from renewable sources, and raise the electricity use efficiency. 12. Issue Electricity Source Certificates to the renewable source electricity producers, in accordance with the rules and procedures set by the Agency Board of Directors. 13. Set systems and rules duly planned to receive, register, study and investigate into any complaints raised by the Consumers, issue decisions to this effect and follow up the implementation of these decisions. 14. Review and adjudicate on any dispute that may arise between the Electricity Utility Stakeholders in connection with the Electricity Utility's workflow and level of regularity. 15. Provide information, reports and recommendations that assist the Electricity Utility Stakeholders and Subscribers in learning their rights and obligations. 16. Give permissions and licenses for the establishment, management, operation and maintenance of electric power production, distribution and sale projects. The Agency may, for the purpose of exercising its activities, seek the assistance of other experts and determine their financial remuneration. The Agency shall submit to the Premier, within three months from the expiry date of the fiscal year, an annual report on its activities performed during the year and the developments achieved in the Electricity Market. Article Five The Agency shall be managed by a board of directors to be formed under chairmanship of the Competent Minister. The board members shall be: 1. The Chief Executive Officer, 2. Four members representing the Consumers, as follows: - Chairman of the Competition Protection and Anti-Monopolistic Practices Agency or a nominee from his board of directors. 11

11 - Chairman of the Consumer Protection Agency or a nominee from his board of directors. - Chairman of the Egyptian Industries Union or a nominee from his board of directors. - Chairman of the Chambers of Commerce Federation or a nominee from his board of directors. 3. Three representatives from the Electricity Utility to be nominated by the Competent Minister. 4. Four persons of expertise in the technical, financial and legal arenas, and other representatives of the Civil Society Organizations who are not Electricity Utility Stakeholders. The board members shall remain in office for a three-year term, renewable for only one similar term. The board of directors may, from among its members, form one or more committees to be entrusted with a number of duties. The board of directors may further delegate a number of its authorities, powers and specialties to the Board Chairman or the Chief Executive Officer of the Agency. Article Six The Agency Board of Directors shall be the authority having competence to handle the Agency's affairs, and shall issue any and all resolutions found appropriate to achieve the Agency's objectives. The Agency Board of Directors shall exercise its authorities and specialties in the manner set forth herein, and shall, in particular, be authorized to: 1. Approve the Agency's action plans and programs. 2. Approve the rules required to exercise all the electricity power activities, including the electricity production, transmission, distribution, operation, sale and consumption, such that these activities shall be performed in a manner ensuring free, unrestricted and unprejudiced competition and that appropriate procedures shall be undertaken in case of violation, in accordance with the provisions of the present Law and the Executive Regulations thereof. 3. Approve the electricity feeding security report described in Article (35) of the present Law, and refer same to the Ministry to undertake the procedures believed to be appropriate to meet the needs of Subscribers and provide them with appropriate reserve in a manner not prejudicing free competition. 11

12 4. Set rules, conditions and procedures whereby the Electricity Utility Stakeholders are granted permissions and licenses to establish, manage, operate and maintain electricity production, distribution and sale activities. These rules, conditions and procedures shall further cover the cases of suspending the permissions and/or licenses and the procedures of complaints, and shall apply without prejudice to the conditions of the activities that are governed by other laws and special contracts. 5. Within the limits of the rules, conditions and procedures set forth in the present Law and the Executive Regulations thereof, approve the granting, renewing, suspending and cancelling any permissions and/or licenses given to exercise all the activities of Electricity Utility. 6. Determine the fees for permissions, licenses and other services rendered by the Agency to third parties. 7. Approve the conditions that should be covered by the contracts concluded by an Electricity Utility Stakeholder to use a transmission and/or distribution network. 8. Approve the general standards of electricity feeding quality. 9. Approve a tariff on sale of electricity to Unqualified Subscribers on the various voltages and all uses, and approve a consideration for use of transmission and distribution networks and exchange of electricity in the Organizing Market, in accordance with previously declared economic rules and principles referred to in Clause Three of Article Four of the present Law. 10. Approve the rules, conditions and procedures related to the trading and granting of Energy Source Certificates to the renewable sources electricity producers. 11. Develop a system to monitor, follow up and determine the performance standards for the Electricity Utility Stakeholders. 12. Approve decisions adjudicating on the disputes that may arise between the Electricity Utility Stakeholders in connection with the Electricity Utility's workflow and level of regularity. 13. Approve the draft annual budget and conclusive account of the Agency. 14. Approve the organizational structure of the Agency as well as the financial, technical, administrative and employment affairs regulations and the other internal regulations that organize the Agency's activities. These regulations shall apply regardless of any Governmental rules and systems, provided that they shall be subject to a Decree from the Competent Minister. 12

13 15. Accept any grants, donations and contributions that may be offered to the Agency, if they do not contradict with the Agency's objectives. 16. Review the issues that the Chairman believe required to be raised to the Board of Directors. Article Seven The Agency's Board of Directors shall convene at the invitation of its Chairman at least once a month and whenever required. The Board meeting shall not be valid unless attended by the Board Chairman and the majority of board members, including the representatives of the Consumers and the Electricity Utility Stakeholders. Board resolutions shall be issued by the majority of attendees, and in case of tie voting the side supported by the Board Chairman shall prevail. The Board of Directors may invite, to its sessions, any person(s) from whom the Board may seek assistance, provided that such person(s) shall have no voting right. Article Eight The Agency shall have a Chief Executive Officer whose appointment shall take effect by a Premier's Decree to be issued after the matter is raised by the Competent Minister. Chief Executive Officer shall remain in office for a three-year term, which term may be renewed only for one similar period. The Premier's Decree shall determine a remuneration of the Chief Executive Officer. Chief Executive Officer shall be liable before the Board of Director for the Agency's technical, administrative and financial workflow and shall, in particular, be assigned to: 1. Manage the Agency, handle its affairs and exercise general supervision over the workflow. 2. Prepare and raise the issues to the Board of Directors. 3. Implement the Board Resolutions. 4. Prepare the draft annual budget and conclusive account of the Agency, and submit same to the Board of Directors. 5. Submit regular reports to the Board of Directors, regarding the Agency's activities and workflow, the developments taken place according to the plans and programs adopted, the performance impediments and the solutions proposed to avoid same. 13

14 6. Undertake the other authorities and specialties set forth in the Internal Regulations of the Agency. 7. Carry out the duties and tasks assigned by the Board of Directors of the Agency. The Chief Executive Officer may delegate a number of his powers and authorities to one or more managers of the Agency. Article Nine Chief Executive Officer shall represent the Agency before court and in its relations with third parties. Article Ten The financial resources of the Agency shall be comprised of: 1. The funds allocated to the Agency in the public budget of State. 2. The proceeds of the fees paid for the permissions and licenses issued by the Agency. 3. The consideration for works, obligations and services to be rendered and/or assumed the Agency for non-licensees, but conform to the Agency's objectives. 4. The Agency's fund investment proceeds. 5. The donations, contributions and grants that are accepted by the Agency Board of Directors and do not contradict with its objectives. Article Eleven The Agency shall have separate budget to be prepared in the form of the economic authorities' budgets. The Agency's fiscal year shall start and expire in parallel with the fiscal year of State. All the Agency's funds shall be deposited with the unified treasury account of the Central Bank, provided that the Agency shall keep 25% of the annually realized surplus and carry same forward from year to another. Article Twelve The Agency shall, for the purpose of securing its rights, undertake administrative attachment procedures in accordance with the provisions of Law No. 308 of 1955 referred to herein. Chapter Two Permissions and Licenses for Electricity Activities 14

15 Article Thirteen No electricity production, distribution or sale activities shall be exercised unless and until the related licenses are obtained from the Agency in accordance with the provisions of the present Law and the Executive Regulations thereof. Prior to issuance of an activity-exercise license or any amendments thereto, the Agency shall issue the permissions required to start construction or expansion of any such activities referred to herein, provided that such permission shall be given in accordance with the rules and controls set out by the Agency Board of Directors. The Agency's decisions regarding permissions and licenses shall be published in the Egyptian Gazette and a widely spread daily newspaper. Publishing expenses shall be borne by the person who is granted permission or license, as the case may require. Granting a license shall not result of the creation of any monopolistic status in the geographic zone of the licensee. Any person who exercises electricity production, distribution or sale activities shall take the form of an Egyptian joint stock company. Special uses by electricity producers may be exempted from obtaining the permissions or licenses referred to herein, and the Executive Regulations shall set forth the terms, conditions and controls of exemption. Article Fourteen The applications to obtain the permissions and licenses referred to in Article (13) herein shall be submitted in the forms prepared by the Agency. Applications shall include the data and be accompanied by the documents required for adjudication, as set forth in the Executive Regulations. Applications for permissions or licenses shall be adjudicated thereupon within a maximum period of sixty days starting from the date of completion by the permission or license applicant of all the data and documents required under the established rules. Rejection of an application or adjourning the adjudication thereon to beyond the scheduled period shall take effect by a reasoned decision to be notified to the permission or license applicant. Article Fifteen Permissions referred to in Article (13) herein shall include: 1. The object of permission, 2. The term of permission, 3. The type of service (production/distribution), 4. The Permission Fee, which shall be EGP 1000 at maximum per MW, and not less than EGP 10, The geographic limits of the permittee's activities. 15

16 6. The permittee's obligation to abide by the safety, occupational health and environment protection laws and rules as well as the energy efficient use standards, and to provide the Agency with all the information and data in connection with the subject of permission. 7. Any other data required by the Executive Regulations. Article Sixteen The term of license shall be twenty five years at maximum. Such term may be renewed for similar periods or part thereof. The Agency shall issue an annual certificate proving the validity of the license after confirming that licensee abides by the terms and conditions of licensing during the certified year. In case of the licensee's failure to abide by such terms and conditions, the penalties set forth in the present Law shall apply. Article Seventeen The licenses referred to in Article (13) of the present Law shall include the following: 1. The term of license. 2. The type of service (production, distribution, purchase or sale). 3. The License Fee which shall be, at maximum, EGP 1/1000 of the price of each power unit produced or purchased or be the consideration for use of the network, as the case may require. 4. The geographic limits of the licensee's activities. 5. The licensee's obligation to abide by the quality standards. 6. The tariff structure approved by the Agency for the license applicant. 7. The Agency-approved price structure of electricity exchange between Electricity Utility Stakeholders. 8. The Agency-approved consideration structure for use of transmission and distribution networks. 9. The Environment Affairs Agency's approval of the environment impact assessment study. 10. The licensee's obligation to keep separate accounts for each licensed activity. 11. The maximum limit of indebtedness that may be borne by the Licensee without prejudice to its financial status. 12. The licensee's obligation to prepare periodic reports on its activities in the forms prepared by the Agency. 13. The licensee's obligation to make the services available to the Subscribers without favoritism and to apply a system to receive and investigate into the complaints. 14. The licensee's obligation to abide by the safety, occupational health and environment 16

17 protection laws and rules and to provide the Agency with all the required information and data in connection with the subject of license. 15. The licensee's obligation to comply with the legitimate, free competition rules and the transparency and equal opportunity principles. 16. The licensee's obligation not to make amendments to, or be encumbered with a controlling interest in, its property right to the assets under license. 17. All other data set forth in the Executive Regulations. Article Eighteen Without prejudice to the information and accounts confidentiality regulations, the Agency shall have the right to review the accounting registries and books of the licensee in order to obtain the required information and monitor the scope of compliance by the licensee of the license conditions. The Agency shall, however, keep the data, information and accounts obtained from the licensee as strictly confidential. Article Nineteen The owners and operators of the electricity-generating nuclear plants shall obtain an approval from the Nuclear and Radiation Control Authority, in accordance with the provisions of the Nuclear and Radiation Activities Regulatory Law referred to herein. Such approval shall be obtained prior to applying for a license from the Agency. Article Twenty No permittee or licensee shall waive the permission or license issued by the Agency to a third party except after obtaining an approval from the Agency. Article Twenty One The Agency may impose any of the penalties set forth in Clauses (1), (2) and (3) of Article (23) of the present Law, if the licensee makes an amendment to, or is encumbered with a controlling interest in, its assets property rights in a manner leading to creation of monopolistic practices or a violation of the free competition rules. Article Twenty Two If a dispute arises between Electricity Utility Stakeholders with respect to the Utility's workflow or regularity, each Stakeholder may submit an application to the Agency 17

18 for review of the dispute and adjudicate thereon. The dispute shall be adjudicated thereon within sixty days from the date of submitting the said application and supporting same with documents. The lapse of such period without adjudication on the application shall be interpreted as rejection thereof, and the Executive Regulations shall provide for the procedures of reviewing and adjudicating on disputes. Article Twenty Three The Agency may impose any of the following penalties if the licensee violates the license conditions: 1. To serve a written notice on the licensee warning that the license would be suspended or cancelled, and grant the licensee a grace period to remove the violation. 2. To remove the violation at the expense of the licensee. 3. To suspend the license for a definite period of no more than one year and undertake any other procedures the Agency believes to be required for resuming activities and protecting the consumers' rights. 4. To cancel the license and undertake the procedures required to protect the consumers' rights, including the management of the foundation for the interest and at the expense of the violator. In all cases, the licensee shall return the amounts unfairly collected as a result of violating the Agency-approved tariff or prices in addition to the price interest declared by the Central Bank, provided that such procedures shall all be subject to the rules and procedures set forth in the Executive Regulations. Chapter Three Electricity Activities Article Twenty Four Electricity Utility is a public utility operating within the framework of the duly approved electric power strategies and polices. Section One Electricity Production 18

19 Article Twenty Five Electricity Production Licensee shall: 1. Implement electricity production projects. 2. Manage, operate and maintain electricity production plants. 3. Sell the electricity produced. 4. Render any assisting services that may be required for safe and stable operation of the electricity transmission networks. 5. Conduct development studies and research in the field. 6. Undertake any electricity-related or complementary works or activities. Section Two Electricity Transmission and Network Operation Article Twenty Six The Egyptian Electricity Transmission Company is a joint stock company, fully owned by the State. It acts independently from any other electricity company or Electricity Utility Stakeholder, and is governed by the provisions of Joint Stock, Limited by Shares and Limited Liability Companies Law, Capital Market Law and Central Depository and Registry Law to the extent that no special provisions are stated herein. With the approval of and under the controls set by the Cabinet, a number of public legal persons and other State-owned companies may contribute to the capital of the Egyptian Electricity Transmission Company. The Egyptian Electricity Transmission Company shall solely be assigned to transmit electricity and operate electricity networks. The extraordinary general assembly of this company shall, accordingly, amend its articles of association to conform to the provisions of the present Law. Article Twenty Seven The general assembly of the Egyptian Electricity Transmission Company ("Company") shall be chaired by the Competent Minister and shall have a number of members of not less than seven and no more than fourteen. The members shall be appointed for a three-year term by a Premier's Decree to be issued on the recommendation of the Competent Minister. The general assembly members shall 19

20 include a representative of the Ministry of Finance and another representative of the Company's employees to be nominated by the General Federation of Laborers Unions. No such members shall be affiliating or reporting to any Electricity Utility Stakeholder. The said Decree shall determine the attendance remuneration of the said general assembly members. The general assembly meetings shall be attended by the Company's Chairman and board members as well as the auditors of the Central Auditing Agency, provided that they shall have no voting rights. Article Twenty Eight The Egyptian Electricity Transmission Company shall be managed by a board of directors to be formed by a resolution of the General Assembly to be issued upon a proposal of the General Assembly Chairman. The Company's board of directors shall remain in office for a three-year term, and shall be comprised of a board chairman and board members of not less than eight and no more than fifteen. The board of directors shall include a representative of the Ministry of Finance and a representative of the Company's employees to be nominated by the General Federation of Laborers Unions. The resolution issued to form the Company's board of directors shall appoint one or more managing directors and determine their salaries. The resolution shall further determine the annual bonuses and attendance allowance of the board chairman and board members. Article Twenty Nine The chairman, board members and other employees of the Egyptian Electricity Transmission Company shall not, in any manner whatsoever, work for an Electricity Utility Stakeholder or act as member of any stakeholder's board of directors. Article Thirty The Egyptian Electricity Transmission Company shall permit third parties to use its networks, without favoritism, for the purpose of providing the electricity distributors and consumers with their electricity requirements, in accordance with the transmission rules which include prices based on economic principles approved by the Agency. 21

21 Article Thirty One The Egyptian Electricity Transmission Company shall operate an electricity transmission system that conforms to economic and environmental standards ensuring equal opportunities and maintaining the interest of the electricity producers and consumers. For this purpose, the Egyptian Electricity Transmission Company shall solely be assigned to: 1. Operate an electricity transmission system properly achieving efficiency, stability and reliability. 2. Manage and maintain an electricity transmission network, and implement electricity transmission projects on Ultrahigh and High Voltages. 3. Transmit electricity through its networks against consideration to be proposed by the Company under economic principles and be approved by the Agency. 4. Allow for connection with the transmission networks against consideration to be proposed by the Company under economic principles and be approved by the Agency. 5. Provide the balance power required for safe and stable operation of the networks, thus ensuring equal opportunities and avoid favoritism. 6. Meet the electricity needs of the Organizing Market by means of purchase of electricity from the electricity production licensees and purchase of transmission, distribution and sale services from the services licensees in favor of the Unqualified Subscribers, provided that such transactions shall be conducted at prices to be proposed by the Company under proper economic principles and be approved by the Agency. 7. Receive the difference between the two tariffs set forth in Article (41) of the present Law, and allocate same to purposes set forth in the Executive Regulations. 8. Provide electricity to Qualified Subscribers according to six-month term contracts, and renew these contracts for similar period(s) or part thereof after obtaining relevant approvals from the Agency, provided that such services shall be rendered against a tariff to be proposed by the Company under proper economic principles and be approved by the Agency. 9. Cooperate with the Ministry in studying the expansion of the electricity production and transmission services to meet the needs of the Consumers. 21

22 10. Through the Market Operator, undertake the procedures of electricity purchase and sale in accordance with the Electricity Market Trade and Settlement Rules. 11. Implement electric connectivity projects duly approved by the Ministry and other electricity exchange projects with the other countries in accordance with agreements to be concluded in this respect, and participate in other companies for this purpose. 12. Organize the transactions of sale, purchase and exchange of electricity on the connectivity networks. 13. Conduct studies, research and developments in its field of activity. 14. Provide information and statistics to the Electricity Utility Stakeholders without favoritism. The Company shall implement its project either solely or in cooperation with third parties, and may assign parts of these projects to third parties. The Company may further undertake other works or activities that are relevant or complementary to its activities, in accordance with its statutes. The Egyptian Electricity Transmission Company shall undertake its specialties, powers and authorities referred to herein above, in accordance with the principles and rules set forth in the Executive Regulations. Article Thirty Two The Egyptian Electricity Transmission Company shall set and amend the electricity transmission rules in coordination with the electricity production and distribution companies and the Qualified and Unqualified Subscribers, provided that these rules and the amendments thereto shall not apply except after a relevant approval is given by the Agency and after being published in the Egyptian Gazette. The said rules shall, in particular, include the following: 1. Technical requirements and determinants that apply to the entities which desire to use or be connected with the electricity transmission network, including but not limited to the specifications of measurement devices and the details and requirement of protection. 2. Confirmation that the technical conditions that apply to the licensees, who desire to use or be connected with the electricity network, do apply the principles of anti-favoritism and equality between all licensees and subscribers. 3. Rules encouraging the efficiency-raising, validity and economics of proper use 22

23 and development of transmission systems. 4. Information and data, as required for operating and planning the electricity transmission system. 5. Rules and principles on operating the electricity transmission system. 6. Rules and principles evaluating the performance of the Egyptian Electricity Transmission Company and its dealers. Article Thirty Three The Egyptian Electricity Transmission Company shall set and amend the Trade and Settlement Rules in coordination with the electricity production and distribution companies and the Qualified and Unqualified Subscribers, provided that these rules and the amendments thereto shall not apply except after a relevant approval is given by the Agency and after being published in the Egyptian Gazette. The said rules shall, in particular, include the following: 1. The mechanisms, prices and conditions that apply to the Electricity Utility Stakeholders in the course of purchase or sale of electricity. 2. Non-favoritism in the course of the transactions conducted between all the producers and consumers. 3. Procedures encouraging efficiency raising and competition in the course of sale and purchase of electricity. Article Thirty Four The Egyptian Electricity Transmission Company shall be assigned to purchase the electric power required for the assisting services, and may undertake the procedures needed in this respect. Nevertheless, it shall consider equal opportunities and avoid favoritism, and shall undertake these procedures in accordance with commercial principles declared to all the Electricity Utility Stakeholders. Article Thirty Five The Egyptian Electricity Transmission Company shall prepare an annual report on electricity feeding security. The report shall describe the electricity consumption and 23

24 all consumption objectives and provide a follow-up of the production and consumption balance and a forecast of the future electric loads and the required additional production capacities that are needed to face such loads on the medium and far ranges, whether these capacities are in the process of construction or planning. The report shall be submitted to the Agency's board of directors, and the Executive Regulation shall specify the main elements of the report and the means of submitting same. The Competent Minister shall raise the findings of the said report, including the recommendations thereof, to the Cabinet. If the report refers to the presence of a production shortfall vis-à-vis consumption, the Cabinet may approve appropriate procedures to face such shortfall. These procedures may permit the Company to enter into contracts with investors to add production capacities and issue the required governmental warranties. The Company shall, in case thereof, undertake procedures for contracting with the investors at prices and for periods to be agreed upon according to the related regulatory legal rules. Article Thirty Six The Egyptian Electricity Transmission Company shall prepare an annual report on the procedures undertaken to ensure anti-favoritism and confidentiality of third party's information that may be received in the course of works, and to confirm the presence of methods to monitor the above. The report shall be submitted to the Agency Board of Director, and the Executive Regulation shall specify the main elements of the report and the means of submitting same. Article Thirty Seven The Egyptian Electricity Transmission Company shall disseminate information on its activities for commercial use by the Electricity Utility Stakeholders without favoritism, in accordance with the procedures set forth in the Executive Regulations. Section Three Distribution of Electricity Article Thirty Eight 24

25 The electricity distribution licensee shall: 1. Establish and implement electricity distribution projects on medium and low voltages. 2. Manage, operate and maintain the electricity distribution networks in the areas where the licensee is licensed to undertake activities. 3. Establish, manage, operate and maintain production units in coordination with the Network Operator, and sell the produced electricity after obtaining license from the Agency. 4. Sell electricity on medium and low voltages to the Unqualified Subscribers against a sale tariff to be proposed by the licensee and approved by the Agency. 5. Propose consideration for the connection with the electricity distribution network, provided that such connection shall take effect after an approval is given by the Agency. 6. Prepare and apply Agency-approved expansion plans for the distribution networks in order to meet the needs of consumers. 7. Conduct studies, research and development in the field of activities. The above specialties, powers and authorities shall be undertaken in accordance with the principles and rules set forth in the Executive Regulations. Article Thirty Nine Electricity distribution licensee shall, without favoritism, permit third parties to use its networks for the purpose of providing the electricity consumers with their needs within the limits of the technical capacities of these networks, provided that such permission shall be given against consideration to be approved by the Agency in accordance with the Agency-adopted distribution rules. Article Forty Electricity may be purchased and sold through authorized distributors in accordance with conditions and rules to be determined by the Agency in the licenses granted to them. The Agency may, however, issue licenses to third parties to perform the same distribution activities in the same geographic zones of the authorized distributors. Section Four Electricity Subscribers 25

26 Article Forty One The licensees shall distribute electricity and the Network Operator shall feed the Unqualified Subscribers with electricity on the various voltages in the geographic zone described in the licenses and according to the contracts and tariff adopted by the Agency. If the Cabinet determines a tariff that is less in value than the tariff adopted by the Agency, the State shall pay the difference between the two tariffs to the licensees, in accordance with the rules and procedures set forth in the Executive Regulations. Article Forty Two The Agency Board of Directors shall lay down the terms and conditions that should be met by the Qualified Subscribers. The contracts between Qualified Subscribers and Electricity Suppliers shall be adopted by the Agency and shall conform to the Transmission Rules and the Trade and Settlement Rules approved by the Agency. Article Forty Three In case a Subscriber requests certain electricity feeding quality specifications that exceed the general electricity feeding quality standards approved by the Agency, an Agency-approved special supply contract shall be concluded to this effect. Article Forty Four If a Subscriber requests an alternative capacity, the said Subscriber shall transact under contracts and at prices to be approved by the Agency. Chapter Four Improvement of Electric Power Use Efficiency Article Forty Five Network Operator or Electricity Distribution Licensees shall purchase or pay for the surplus electric power deriving from the common electricity generation units and the other recoverable energy electricity production units with capacity of less than 50 MW, provided that such transactions shall be conducted under conditions and at prices set by the Agency. 26

27 Article Forty Six Network Operator and Electricity Distribution Licensee shall have the common electricity generation units and the other recoverable energy electricity production units connected with their networks, provided that they shall bear the costs required for their networks expansion while the producer shall bear the networks connection costs. Article Forty Seven Network Operator and Electricity Distribution Licensee may enter into loads-reducing or loads-carrying forward contracts with the Consumers and Authorized Distributors, provided that no favoritism shall be exercised in the course of their transactions. The Executive Regulations shall set the controls to be considered in the course of concluding these contracts. Article Forty Eight Subscribers whose contractual capacity exceeds 500 KW shall appoint officials to be assigned to improve the power usage efficiency and keep a power register, in the manner described in the Executive Regulations. Article Forty Nine Network Operator or Electricity Distribution Licensee shall apply a proposed annual plan to be approved by the Agency for the purpose of implementing projects and programs serving the Consumers in the following fields: 1. Management of Electric power demand. 2. Improvement of electric power usage efficiency. 3. Promotion for renewable energy uses. 4. Raising awareness of power usage efficiency. In the course of issuance of a license validity certificate, the Agency shall verify the scope of applying the annual plan. Article Fifty The entity assigned by the Cabinet to improve electricity usage efficiency shall, in cooperation with the other competent authorities, develop policies aiming to: 1. Expand the scope of developing power efficiency specifications and cards for the electricity-consumptive devices and equipment. 27

28 2. Replace the low-efficiency devices and equipment with others, as set forth in the Executive Regulations. 3. Improve the electric power usage efficiency in the industrial and commercial systems. Article Fifty One Producers and importers of the electricity consumptive devices and equipment shall place power efficiency cards on the electric devices, in accordance with the Ministerial Decrees issued in this respect and the provisions of the Executive Regulations. Chapter Five Electricity Utility Foundations Article Fifty Two For the purpose of applying the present Law, Electricity Utility Foundations shall mean: 1. The plant that produce electric power from various sources, and the annexes thereof. 2. Main electric transformer plants with ultrahigh and high voltages. 3. Aerial lines, land cables and submarine cables with ultrahigh voltages. 4. Aerial lines, land cables and submarine cables with high voltages. 5. Aerial lines, land cables and submarine cables with medium voltages. 6. Aerial lines, land cables and submarine cables with low voltages. 7. Medium voltage network distributors. 8. Transformers and equipment distributing low voltage networks. 9. Foundations affiliating to the electricity production, transmission and distribution companies. 10. Laboratories and research centers of concern. Article Fifty Three Without prejudice to their right to fair compensation and to keep possession and/or make disposition of their owned real estates, real estate owners or possessors shall give access for installation, operation or maintenance of duly permitted aerial networks or land cables on top of their real estates, in case of buildings, and on top of 28

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