Albanian distribution system operator OSHEE has bought 265,200 MWh of electricity for the period from 21 December 2016 to 31 January 2017 at an average price of 50.41 EUR/MWh (49.08 EUR/MWh for the period 21-31 December 2016 and 50.99 EUR/MWh. The tender has been known in previous through a press release dated 14-12-2016. The contract foreseen the agree to sell and deliver, and buy and accept electricity during delivery period, continuous delivery from Monday to Sunday from hours 00:00 through 24:00 of CET.
Delivery of electricity shall be guaranteed during the full Contract term except where the Seller's non-performance is excused by an event of Force Majeure and/or non-performance due to remounts and tripping of the interconnection transmission lines, or the Buyer's failure to comply with the terms and conditions of the Contract. The cross-border-capacities on the Montenegrin/Serbian/Greek – Albanian borderand from Internal Sources shall be provided by the Seller for the whole delivery period. Title to, and risk of loss of, energy delivered shall pass from the Seller to the Buyer at the delivery point.
Parties shall confirm the schedules of electricity delivery/acceptance with the Administrator of the Contract for the whole electricity supply in accordance with all applicable rules and other customary industry practices and procedures. The daily schedule shall be agreed between Parties with weekly agreements, i.e. each Thursday up to 12:00 h; daily programs shall be declared and agreed for the next week, Monday till Sunday.
In case that the agreed weekly programs are changed, the Parties are obliged to inform each other thereof until 12:00 h CET on day ahead or intraday basis. The delivery program will be agreed under mutual confirmations. In case of changes to the Weekly Delivery Schedules pursuant to above mentioned paragraph, the Daily Delivery Schedules shall be considered fulfilled with a maximum daily tolerance of ± 10% baseload.
All taxes resulting from the implementation and execution of this Contract inside Albania shall be borne by the Buyer and outside Albania by the Seller. On the request of each Party, the other Party shall provide all necessary and relevant information and documents concerning tax duties to the other party always in due time.
Any dispute, controversy or claim arising out including the validity, invalidity, breach or termination thereof, shall be settled by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Chambers of Commerce. The seat of the arbitration shall be in Zurich. The language of arbitration is to be English governed by Swiss law.
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