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Gas Hub Development Group TTF

Gas Hub Development Group TTF. Industry Forum - Prague 8.June.2004 Adam Cooper: Entergy Koch Trading. TTF Trading. Participants : Electrabel Essent Nuon EDF BP Centrica/Accord RWE Norsk Hydro Gaselys Stadwerke Hanover Distrigaz D Gas

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Gas Hub Development Group TTF

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  1. Gas Hub Development GroupTTF Industry Forum - Prague 8.June.2004 Adam Cooper: Entergy Koch Trading

  2. TTF Trading • Participants: • Electrabel • Essent • Nuon • EDF • BP • Centrica/Accord • RWE • Norsk Hydro • Gaselys • Stadwerke Hanover • Distrigaz • D Gas • Trading focused on prompt with some activity in W04/05 and GY05

  3. TTF Annex to EFET contract • Annex now an Appendix • Need to strengthen framework for trading through an EFET, in particular: • Credit liability • Firmness • Developed and agreed by GHDG mid April • Distributed to EFET membership mid April • Comments received mid May • Conference call to discuss issues held on 19.May.04 • With EFET for Board approval this week – Done! • EKT to prepare guidance note to accompany Appendix

  4. Discussions continue with GTS • Credit issue • Ability of GTS to transfer their credit exposure to non defaulting customer is unacceptable • Issue arises because they have limited information on allocation in near term • However GTS should not transfer resultant risk to non defaulting parties • GTS must ensure appropriate processes are developed and implemented • GTS indicated that they are seeking a more appropriate solution • Firmness • TTF is a notional point • Physical constraints outside TTF should not result in constraint at a notional point • GTS considering amendments for TSC05 Meetings on these issues also held between GHDG and Dte/MEA

  5. Future Improvements - Roles • Role of Market Operator (MO) • Announcement of a gas exchange for WID and DAH trading • MO and gas exchange fully supported by GHDG • Role of Gasunie Trading and Supply • GHDG welcome recent announcement that GuTS will participate in the gas exchange • GHDG would wish to see GuTS active in TTF in a similar way to Distrigas at Zeebrugge (and British Gas at NBP in the nineties)

  6. Other Factors Affecting Liquidity • Transparency of information • Limited transparency undermines liquidity • Emden entry capacity • Limited information available (compared to Zeebrugge/NBP etc) • Entry/Exit capacity • Limited firm capacity available • Interruptible capacity available • Quality Conversion • Fully booked • Interruptible capacity available from GTS

  7. Gas Hub Development GroupTTF Industry Forum - Prague 8.June.2004 Adam Cooper: Entergy Koch Trading

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