European Gas Market

Regulation (EU) 1227/2011 of 25 October 2011 (REMIT)   

It is important to ensure that consumers and other market participants can have confidence in the integrity of electricity and gas markets, that prices set on wholesale energy markets reflect a fair and competitive interplay between supply and demand, and that no profits can be drawn from market abuse.

Wholesale energy markets are increasingly interlinked across the Union. Market abuse in one Member State often affects not only wholesale prices for electricity and natural gas across national borders, but also retail prices to consumers and micro-enterprises. Therefore the concern to ensure the integrity of markets cannot be a matter only for individual Member States. Strong crossborder market monitoring is essential for the completion of a fully functioning, interconnected and integrated internal energy market.

Manipulation on wholesale energy markets involves actions undertaken by persons that artificially cause prices to be at a level not justified by market forces of supply and demand, including actual availability of production, storage or transportation capacity, and demand. Forms of market manipulation include placing and withdrawal of false orders; spreading of false or misleading information or rumours through the media, including the internet, or by any other means; deliberately providing false information to undertakings which provide price assessments or market reports with the effect of misleading market participants acting on the basis of those price assessments or market reports; and deliberately making it appear that the availability of electricity generation capacity or natural gas availability, or the availability of transmission capacity is other than the capacity which is actually technically available where such information affects or is likely to affect the price of wholesale energy products. Manipulation and its effects may occur across borders, between electricity and gas markets and across financial and commodity markets, including the emission allowances markets.

Regulation (EU) 1348/2014 of 17 December 2014 (Imp. REMIT)  

Regulation (EU) No 1227/2011 requires the Agency for the Cooperation of Energy Regulators (‘the Agency’) established by Regulation (EC) No 713/2009 of the European Parliament and of the Council ( 2 ) to monitor wholesale energy markets in the Union. In order to enable the Agency to fulfil its task it should be provided with complete sets of relevant information in a timely manner.

Market participants should report to the Agency on a regular basis details of wholesale energy contracts both in relation to the supply of electricity and natural gas and for the transportation of those commodities. Contracts for balancing services, contracts between different members of the same group of companies and contracts for the sale of the output of small energy production facilities should be reported to the Agency only at its reasoned request on ad-hoc basis.

In general, both parties to the contract should report the required details of the concluded contract. To facilitate reporting, parties should be able to report on each other’s behalf or use the services of third parties for this purpose. Notwithstanding this and to facilitate data collection, the details of transportation contracts acquired through primary capacity allocation of a transmission system operator (TSO) should be reported by the respective TSO only. The reported data should also include filled and unfilled capacity requests.

Regulation (EU) 2017/459 of 16 March 2017 (CAM – NC) 

This Regulation has wider scope than Regulation (EU) No 984/2013 principally in terms of the rules for the offer of incremental capacity and clarifies certain provisions related to the definition and offer of firm and interruptible capacities and to improving the alignment of contractual terms and conditions of respective transmission system operators for the offer of bundled capacity. Provisions in this Regulation relative to the coordination of maintenance and the standardisation of communication should be interpreted in the context of Commission Regulation (EU) 2015/703.

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Regulation (EU) 2017/460 of 16 March 2017 establishing a network code on harmonised transmission tariff structures for gas (TARIFF-NC)  

A crucial step in reaching these objectives is to increase the transparency of transmission tariff structures and procedures towards setting them. Therefore, it is necessary to set out the requirements for publishing the information related to the determination of the revenues of transmission system operators and to the derivation of different transmission and non-transmission tariffs. These requirements should enable network users to understand better the tariffs set for both transmission services and non-transmission services, as well as how such tariffs have changed, are set and may change. Additionally, network users should be able to understand the costs underlying transmission tariffs and to forecast transmission tariffs to a reasonable extent. The transparency requirements set out in this Regulation further harmonise the rule laid down in point 3.1.2(a) of Annex I to Regulation (EC) No 715/2009.

COMMISSION REGULATION (EU) …/… of XXX establishing a network code on harmonised transmission tariff structures for gas

EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT accompanying the COMMISSION REGULATION (EU) …/… of XXX establishing a network code on harmonised transmission tariff structures for gas and the COMMISSION REGULATION (EU) No …/.. of XXX establishing a Network Code on Capacity Allocation Mechanisms in Gas Transmission Systems and repealing Commission Regulation (EU) No 984/2013

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Regulation (EU) 312/2014 of 26 March 2014 (BAL-NC)   

Network users are to bear the responsibility of balancing their inputs against their off-takes, with the balancing rules designed to promote a short term wholesale gas market, with trading platforms established to better facilitate gas trade between network users and the transmission system operator. The transmission system operators carry out any residual balancing of the transmission networks that might be necessary. In doing so, the transmission system operators should follow the merit order. The merit order is constructed so that transmission system operators will procure gas taking account of both economical and operational considerations, using products that can be delivered from the widest range of sources, including products sourced from LNG and storage facilities. The transmission system operators should aim to maximise the amount of their gas balancing needs through the purchase and sale of short term standardised products on the short term wholesale gas market.

Regulation 703 from 2015

Regulation 703 from 2015 – Establishing a network code on interoperability and data exchange rules (INT-NC)

This Regulation establishes a network code which sets out rules regarding interoperability and data exchange as well as harmonised rules for the operation of gas transmission systems.

This Regulation shall apply at interconnection points. With regard to data publication, Article 13 shall apply to relevant points defined in paragraph 3.2 of Annex I to Regulation (EC) No 715/2009. In addition to interconnection points, Article 17 shall apply to other points on transmission network where the gas quality is measured. Article 18 shall apply to transmission systems. This Regulation may also apply at entry points from and exit points to third countries, subject to the decision of the national authorities.

This Regulation shall not apply to interconnection points between Member States as long as one of these Member States holds a derogation on the basis of Article 49 of Directive 2009/73/EC, unless agreed otherwise by the respective Member States.

Regulation 312 from 2014

Regulation 312 from 2014 – Establishing a network code on Gas balancing of transmission networks (BAL-NC)

This Regulation shall apply to balancing zones within the borders of the Union.

This Regulation shall not apply to balancing zones in Member States that hold a derogation on the basis of Article 49 of Directive 2009/73/EC. 3. This Regulation shall not apply to reconciliation that would be necessary between the allocations and actual consumption subsequently derived from final customer meter readings when obtained.

This Regulation shall not apply in emergency situations where the transmission system operator shall implement specific measures defined under the applicable national rules and on the basis of Regulation (EU) No 994/2010 of the European Parliament and of the Council of 20 October 2010 concerning measures to safeguard security of gas supply (4), as appropriate.

The respective rights and obligations originating from this Regulation with regard to network users shall only apply to those network users which have concluded a legally binding agreement, being a transport contract or another contract, which enables them to submit trade notifications in accordance with Article 5.

Decision no. 490 from 2012

Decision no. 490 from 2012 – Conditions for access to the natural gas transmission networks – amending annex I from Reg. 715

In order to ensure that congestion management procedures are applied in the most effective way at all interconnection points and with a view to maximising available capacities in all adjacent entry-exit systems, it is of great importance that national regulatory authorities and transmission system operators from different Member States and within Member States closely cooperate amongst themselves and with each other.

In particular national regulatory authorities and transmission system operators should have regard to best practices and endeavour to harmonise processes for the implementation of these Guidelines.

Acting in accordance with Article 7 of Regulation (EC) No 713/2009 the Agency and the national regulatory authorities should ensure that the most effective congestion management procedures are implemented at the applicable entry and exit points across the Union.

Decision no. 685 from 2010

Decision no. 685 from 2010 – amending Chapter 3 of Annex I to Regulation (EC) No 715 from 2009

Regulation (EC) No 715/2009 sets up guidelines on the definition of the technical information necessary for network users to gain effective access to the system.

The guidelines should introduce transparency requirements in order to ensure effective access to natural gas transmission systems and to provide a minimum guarantee of equal market access conditions in practice.

The measures provided for in this Decision are in accordance with the opinion of the Committee referred to Article 28 of Regulation (EC) No 715/2009.

Chapter 3 of the Annex I to Regulation (EC) No 715/2009 is replaced by the text in the Annex to this Decision.


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