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Gas Regional Initiative Region North-West Secondary Markets Betsy Annen, CRE

Gas Regional Initiative Region North-West Secondary Markets Betsy Annen, CRE Bernhard Schaefer, E.ON Ruhrgas. Introduction & status quo. Purpose of secondary markets. Primary transport capacity is mainly booked long-term - but often underused

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Gas Regional Initiative Region North-West Secondary Markets Betsy Annen, CRE

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  1. Gas Regional Initiative Region North-West Secondary Markets Betsy Annen, CRE Bernhard Schaefer, E.ON Ruhrgas

  2. Introduction & status quo

  3. Purpose of secondary markets • Primary transport capacity is mainly booked long-term - but often underused •  Shippers should offer unused capacity back to the market to the largest extent possible

  4. Relevance of secondary markets • Flexible secondary trading is essential for optimizing the usage of primary capacity … • … it thus helps improving shippers’ access to capacity •  In particular secondary trading of cross-border capacities supports regional integration

  5. The start: „day-ahead capacity pilot“ • Project initially suggested by EFET • Aim: firm day-ahead capacity marketing (auctions) to improve capacity situation • Pilot at cross-border points BOS and Ellund • Voluntary, intensive work of TSOs and platforms (trac-x, APX) • Participation of regulators (NL, D, DK) and EFET  Significant achievements already in the first phase of the project Ellund (DK/D) Bunde / Oude Statenzijl (NL/D)

  6. Day-ahead pilot focused on ”capacity transfer“

  7. Secondary trading platforms are little used • (Day-ahead) trading implemented at a number of interconnection points • Currently 3 platforms offer secondary capacity trading in the North-West region The problem is: • Very few transactions on these platforms (in spite of their sophisticated design) • Hence the liquidity of the secondary market is still very low and has not improved the access to capacity

  8. Now the GRI project has been extended •  Regional project now covers secondary marketing in general

  9. Discussion

  10. What do YOU think? • Does the product range need improvement? • Is the choice of IPs wrong? • Are processes too complicated? • Does day-ahead trading mean too much effort? • Is coordination with spot markets not optimal? • …

  11. Way forward

  12. Way forward • We aim at improving situation for network users • Need to first understand the barriers to trade! •  Detailed questionnaire to come • address active and “inactive” shippers • supplemented by analysis of trading data • confidentiality • Results will serve as a basis to • further improve products and/or processes? • include additional booking points? • standardize platforms? • … • Your input is essential to ensure that problems are solved and changes are market driven!

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