New Gas Balancing Market Cooperation of APX-ENDEX and GTS Enhances Liquidity on Dutch TTF

Amsterdam/London/Groningen | press release

APX-ENDEX, the Anglo-Dutch energy exchange, and Gas Transport Services B.V. (GTS), the Dutch gas transmission system operator, today announce their cooperation for the development of the new gas balancing market planned to go live on 1 April 2011. The concept of network balancing is being developed in close consultation with GTS customers. In this new model, information on both the balance position of the individual portfolio and of the GTS transportation system are available in real time. This enables shippers to manage their own balance position – and thus related costs - on the TTF. In this new balancing concept GTS will only undertake balancing actions when this is needed for balancing of the total system. Volumes for balancing will be allocated in near-real time at the marginal price of the bid ladder to shippers who are in an imbalance position.

“This is another step forward in the development of the market. In time we aim to fully integrate the gas balancing and Within-Day market”, says Bert den Ouden, CEO of APX-ENDEX.

Geert Graaf, managing director of GTS says: “Our goal is to improve market access on TTF by continuous optimisation of services and by enhancing liquidity on the APX-ENDEX Within-Day market. This step promotes TTF as the leading continental gas hub.”

Bid ladder and Within-Day market cooperation
To this end APX-ENDEX and GTS will sign a Letter of Intent, consisting of three key elements: price transparency, sharing of the order books and order entry, and optimising the collateral of the members/shippers. Price transparency is achieved by developing an integrated, near real-time view for shippers, showing Within-Day and the bid price ladder markets through a dedicated GTS portal.
The order book / order entry allows a shipper to enter an order using EuroLight®, the APX-ENDEX trading platform, which will then appear on Within-Day market as well as on the bid price ladder.
The Letter of Intent also aims to enable members of APX-ENDEX to optimise their collaterals for their creditworthiness position required by GTS.

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