GAZ-SYSTEM S.A. supports exchange-based trade in gas
GAZ-SYSTEM S.A. is prepared to proceed with the execution of orders placed by the Polish Power Exchange based transactions formed on the gas market.The physical delivery of gas transmission services from entry points to exit points in the system, in respect of transactions formed on the gas market will be enabled owing to the solutions implemented in the new Transmission Network Code, which sets out the technical arrangements and conditions for exchange-based trade in this commodity. The Network Code enters into force as of 1 January 2013. 'The gas exchange in combination with the development of the technical capabilities of the domestic transmission system through the expansion of new gas pipelines that we are currently undertaking will enable the creation of a competitive market for gas and flexible trade in gas driven by the laws of supply and demand' said Jan Chadam, President of GAZ-SYSTEM S.A.
In addition to enabling the purchase of gas at the exchange and providing the guarantee of transmission security, GAZ-SYSTEM S.A. worked out a more flexible model for the relationships with companies engaged in gas trade.
As a prerequisite to taking part in exchange trade, they are required to conclude a transmission contract with GAZ-SYSTEM S.A. and obtain an allocation of transmission ability at a virtual point designated as the “gas exchange”.
'We have adapted the contracts with customers to the terms of the new Network Code and become technically prepared to take orders from the Polish Power Exchange in respect of the transactions formed on the gas market. After the closing of the market trading, the orders for transmission of contracted gas volumes to the designated exit points in the system will be sent to the National Gas Dispatch Centre. The execution of deliveries will begin on the next day following the receipt of the orders' explains Piotr Bujalski, Deputy Director of the National Gas Dispatch Division.
