On approval of the Rules for organization and conduct of auction bidding, including qualification requirements for auction participants, the content and procedure for submitting an application, types of financial security of an application for participation in the auction and conditions for their submission and return, the procedure for summarizing and determining winners

466 on December 21, 2017, to approve the Rules for organization and conduct of auction bidding, including qualification requirements for auction participants, the content and procedure for submitting an application, types of financial security of an application for participation in the auction and conditions for their submission and return, the procedure for summarizing and determining winners. The Rules were developed in accordance with subparagraph 5-5) of Article 6 of the Law of the Republic of Kazakhstan dated July 4, 2009 "On support for the use of renewable energy sources." The Rules define key terms, including auction price, auction bidding, register of auction bidding winners, participant, auction bidding organizer, bank guarantee, beneficiary, debtor, unilateral auction, renewable energy sources, accounting and financial center, maximum allowable power of RES facilities, facility for using of RES, applicant, standby letter of credit, ranked list, purchase contract, trading system, trading session, authorized body, marginal auction price, and point of connection to the electrical network. The Rules outline the procedure for organization and conduct of auction bidding, including qualification requirements for auction participants, the content and procedure for submitting an application, types of financial security of an application for participation in the auction and conditions for their submission and return, the procedure for summarizing and determining winners. The auction bidding organizer is responsible for organizing and conducting the auction bidding process, while the accounting and financial center is responsible for centralized purchase and sale of electric energy produced by facilities for the use of renewable energy sources. The Rules also specify the types of financial security, including bank guarantees and standby letters of credit, which must be submitted by participants to participate in the auction bidding process. The Rules further outline the procedure for summarizing and determining winners, including the formation of a ranked list of applications and the selection of winners through a unilateral auction process. The Ministry of Energy of the Republic of Kazakhstan is responsible for ensuring the implementation of the Rules, including state registration, official publication, and placement on the official Internet resource of the Ministry of Energy. Control over the implementation of the Rules is entrusted to the supervising Vice-Minister of Energy of the Republic of Kazakhstan. The Rules shall be enforced upon expiry of twenty-one calendar days after their first official publication.