Market for Flexible Medium and Long Term Products for Natural Gas
Trading Program
Trading Program
An auction session will be organized for each initiating offer submitted to OPCOM.
OPCOM publishes the Announcement of the organization of the auction session containing:
1. Date of the auction session;
2. Time of the auction session.
The auction session will be organized on the day and at the time established by OPCOM through the Announcement of the organization of the auction session. This will be held, according to the schedule published on the website of OPCOM S.A., in two successive stages:
I. AUCTIONING STAGE – 30 minutes
- PPF-TL participants interested in submitting response offers, who notified their participation in the auction session, enter their offers in the trading platform specifying the quantity (MWh / day) and the price offered (Lei/MWh, Euro/MWh or USD/MWh )
- Throughout the auction session, PPF-TL participants taking part with response offers may enter, modify and/ or cancel their own sale/ purchase offers
- The trading platform automatically updates and orders, in real time, according to the best price, all the valid responding offers entered, so that they can be viewed by all participants in the auction
- Even if there are compatible offers, they are not correlated
II. THE STAGE OF ESTABLISHING THE WINNING OFFERS
- At the end of the time period allotted for the submission of response offers, the winner(s) of the auction session is determined on the basis of existing orders in accordance with the principles described in the Procedure for trading on the Market for Flexible Medium and Long Term Products for Natural Gas
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