The Dutch gas transmission system owner and operator, Gasunie Transport Services, and the operator of the pan-European gas trading platform PEGAS, Powernext, announced that both companies will expand their cooperation: as of 1st July 2018, Gasunie Transport Services will use PEGAS as the exclusive platform for the determination and provision of the Neutral Gas Price (NGP).
Gasunie Transport Services informed that it is pleased that after a temporary use of the day-a-day reference price of PEGAS, GTS and PEGAS found a future-proof solution for determining the neutral gas price. GTS will use the neutral gas price, among other things, for the settlement of off-line allocations and Linepack Flexibility Services for shippers. The price will be provided and published by an Exchange, according to European and Dutch regulations. The neutral gas price will be defined as the volume-weighted average price of all trades on PEGAS TTF Spot market for each gas day and will be available on the Powernext website. Because of the amount of trades on the PEGAS TTF Spot market, a representative and reliable price can be calculated and used for the customers of GTS.
Karl Vogel, manager Customer Sales & Service at GTS:
As a service organization, we aim to further develop our service provision. Thanks to an extensive market consultation, we have taken an important step in providing reliable balancing price information to our customers, by determining the neutral gas price via PEGAS.
Egbert Laege, President of Powernext, commented:
PEGAS is very pleased with the evolution of its relationship with Gasunie Transport Services, the system operator of the most liquid gas market in Europe. Being appointed as the exclusive exchange to determine balancing prices for Dutch market participants is a further milestone of our strategy to partner with European gas infrastructure providers to become the preferred European gas trading platform.