PRESS RELEASE

(Bucharest, July 31, 2018)

On July 31^st 2018 took place the first trading session on the Day Ahead Market for Natural Gas, administrated by OPCOM, for delivery of the natural gas on 01.08.2018.

The Day Ahead Market for Natural Gas gives the market participants the possibility to adjust their own trading portfolios and to mitigate and/or avoid the imbalance situations of the network users due to effective situations existent in the market and term commitments performance.

Following the experience achieved during last 10 years in administration of short term transactions for electricity by assuming the counterparty role, OPCOM is assuming the counterparty role for all the trades concluded on Day Ahead Market for Natural Gas, assuring towards the participants to trading sessions both the related services based on that the payments for bought natural gas and the collections  for the sold natural gas to be done in maximum 2 banking days, through the market central account for which the services are provided by Banca Comerciala Romana (BCR) based on the excellent experience in functioning of this mechanism during the 10 years BCR-OPCOM cooperation,  as well as the related service for automated notification of fulfilled trades towards SNTGN Transgaz SA (The Romanian Transmission System Operator), in accordance with the applicable provisions of the Natural Gas Transmission Network Code.

Until date compliant documents were submitted by 6 companies that are eligible for submitting market orders.

During the today trading session that took place in accordance with the schedule between 10:00 – 15:00, 3 market participants get connected to the trading platform, both sellers and buyers, according to the trading rights provided as per the compliant documents submitted for participation in the market.

The IT protocols and related applications implemented for integrated functioning of the Day Ahead Market for Natural Gas were fully functional that gives a high professional degree for the services that are at the market participants disposal through the cooperation between SNTGN Transgaz SA, BCR and OPCOM and offers the market participants the confidence of a reliable trading mechanism, meant to go far towards discovering of the reference price for the natural gas traded in the Virtual Trading Point of the National Transmission System for Natural Gas.   

For more information please contact:

OPCOM SA, Victor Ionescu, Director General, tel. 021 3071 450, e-mail: secretariat@opcom.ro and pcgn@opcom.ro. 

PRESS RELEASE 31.07.2018