PRISMA to welcome three new shareholders to its companyLeipzig | press release
- Three new shareholders from the UK and France to join PRISMA from January 2014*
- PRISMA to launch new integrated secondary market functionality on its platform on 1 January 2014
From 1 January 2014, PRISMA will expand its circle of shareholders. Three further transmission system operators (TSOs), the British National Grid, the Northern Irish Premier Transmission and the French TIGF, will then be new shareholders of the PRISMA European Capacity Platform company*.
The new shareholders are the first to join the PRISMA company since its foundation one year ago. The PRISMA shares of all partners will be re-allocated based on the ENTSOG voting rights. TIGF will start offering transport capacity via the PRISMA platform from March 2014. National Grid and Premier Transmission are scheduled to market capacity via the platform in 2015.
Steve Fisher, Gas Charging and Capacity Manager at the British TSO National Grid, said on the occasion of the signing of the contracts. "National Grid is committed to fully implementing the European Codes and playing its full part in the development of an integrated EU gas market. We foresee that PRISMA will have an important and increasing role in the market. We have consulted with shippers and other stakeholders in the UK and there is widespread support for National Grid to adopt PRISMA as its joint capacity booking platform as envisaged in the CAM code. We are delighted to be joining the other TSOs in becoming a shareholder of this business."
Götz Lincke, Managing Director of PRISMA, welcomed the new shareholders and added: “With our early implementation of the CAM Network Code and the first PRISMA auctions in April 2013, PRISMA marked a major milestone towards an efficient and functioning European gas market. We are very pleased to welcome National Grid, Premier Transmission and TIGF in to our circle of shareholders and believe that the involvement of the new shareholders contributes to a liquid and integrated European Gas Market."
In order to support PRISMA to act as European platform operator for all the shareholders in accordance with ENTSOG’s Network Code on Capacity Allocation Mechanisms (NC CAM), the European Energy Exchange EEX will exit as a shareholder from 1 January 2014.
Moreover, from 1 January 2014, PRISMA will launch a new secondary functionality on its platform. The new functionality, which will be integrated into the PRISMA platform, will step by step replace the existing secondary platforms. With the new secondary market tool, shippers will be able to book primary and trade secondary transport capacity at European network points through one single platform.
"This new offer to the market, which comes only nine months after the launch of the PRISMA platform, shows that all of our involved partners are not only focused on the early implementation of the future European requirements but also take the needs of the market very seriously. The new secondary functionality is an important tool to simplify capacity trading and will bring significant benefits for energy traders across Europe", Götz Lincke said.
* subject to the Cartel Authorities clearing the transaction
The latest changes to its shareholder structure mean that PRISMA will have a total of 22 shareholders from eight different European countries: Baumgarten-Oberkappel Gasleitungsgesellschaft m.b.H., Bayernets GmbH, Energinet.dk, Fluxys Belgium NV/SA, Fluxys TENP GmbH, Gas Connect Austria GmbH, GASCADE Gastransport GmbH, Gastransport Nord GmbH, Gasunie Transport Services B.V., Gasunie Deutschland Transport Services GmbH, GRTgaz Deutschland GmbH, GRTgaz S.A., National Grid plc., Nowega GmbH, ONTRAS Gastransport GmbH, Open Grid Europe GmbH, Premier Transmission Ltd., Snam Rete Gas S.p.A, terranets bw GmbH, Thyssengas GmbH, TIGF and Trans Austria Gasleitung GmbH.