Austrian Gas Market Model 2013
The new market model in Austria brought major changes for gas trading. CEGH reacted to these challenges with innovative services, thus enabling its traders to tap the full potential of these regulations and to turn challenges into opportunities.
The implementation of the 3rd EU Energy Package required the establishment of a new entry-exit regime. Instead of Point-to-Point transportation physical movements of gas are executed via entry and exit points, independent from transport routes. This turned the market area in the east of Austria into one single zone with regard to the integration of transport, supply and storage activities. A further consequence is the transformation of the separated trading locations throughout Austria into one Virtual Trading Point, which is operated by CEGH.
The entry-exit regime brings new regulations for balancing in the market area, demanding a non-discriminatory trading of balancing energy. All nominated gas volumes are checked on an hourly and daily basis. In case of imbalances, which are not re-nominated in due time, the Market Area Manager has to balance the respective volumes, on behalf and for the account of the balance group responsible parties. CEGH therefore implemented a Within-day market, offering possibilities for transparent trading based on an exchange price. The Within-day market not only enables the Market Area Manager to comply with the law but also offers active traders an opportunity to complement their trading activities.