BULGARTRANSGAZ’S COMMERCIAL DISPATCHING SYSTEM WILL RECEIVE AUTOMATIC TRADE NOTIFICATIONS FOR THE TRANSACTIONS CONCLUDED ON THE BALKAN GAS HUB TRADING PLATFORM
As of 1 March 2020, regarding the successful implementation of the respective functionalities of the trading platform and the connection of the information systems of the transmission system operator Bulgartransgaz EAD and the trading platform of Balkan Gas Hub EAD, Bulgartransgaz EAD’s Commercial Dispatching Platform (CDP) will receive automatic notifications of the transactions concluded in the short-term segment and in the long-term anonymous and non-anonymous segment of Balkan Gas Hub trading platform with a place of title transfer, the virtual trading point. Automatic trade notifications will also be implemented for transactions with period for execution after 1 March 2020, including transactions concluded on the trading platform as of launching the platform – from 9 December 2019 to 29 February 2020. In this way, the quantities under the transactions will be allocated automatically to the balancing portfolios of each party to the transaction for each day of the delivery period for these transactions and the clients do not need to enter the quantities under these transactions in the CDP.
There is also an opportunity to manage the average daily quantities under concluded long-term transactions (with a delivery term of no less than one month) through a specialized module developed by Balkan Gas Hub EAD, through individual client profiles. The amended daily average quantity under a long-term contract shall also be sent immediately to the CDP of Bulgartransgaz EAD in order to set up a correct daily balance status. No further action is required for clients after amending the quantity under the long-term transactions by mutual agreement.
Please note that if there are clients who have submitted trade notifications for transactions concluded on the trading platform of Balkan Gas Hub with a delivery period after March 1, 2020 directly in Bulgartransgaz EAD CDP, they should notify Balkan Gas Hub EAD in order to AVOID duplication of quantities on the same transaction.
In addition, Balkan Gas Hub EAD’s information system shall send to the CDP, based on the products (within-the-day, day-ahead, and weekend) traded on the short-term segment, the applicable marginal purchase price and marginal sales price, applicable upon settling daily gas imbalances for a past gas day in accordance with the Methodology for the formation of an imbalance charge, approved by the Energy and Water Regulatory Commission.
All innovations and functionalities are in implementation and in full compliance with the Energy Act, the Rules for Balancing the Natural Gas Market, approved by EWRC and the Trading Platform Rules of Gas Hub Balkan EAD and Regulation (EU) No 312/2014 on Gas Balancing of Transmission Networks.
Тhe new functionalities are implemented in compliance with the regulatory requirements and will contribute to increasing liquidity.
From the Management Bodies of Balkan Gas Hub EAD and Bulgartransgaz EAD