French balancing price to be implemented as of 31st August
French network operator GRTgaz is to use the price emerging from its balancing platform as a reference price when billing its customers for a part of imbalances on the network from 31st August, GRTgaz announced on Friday.
The balancing platform, executed by French exchange operator Powernext, was launched in April and numbers eleven players so far. A maximum of 9 GWh (0.837 million cubic metres, Mm3) is traded on a daily basis. Initially, GRTgaz planned to implement the price in July.
The move is part of a string of changes in the French balancing regime. In July, an optional imbalance tolerance replaced balancing services previously offered by storage operators. The SEJ, Service d’Equilibrage Journalier, is no longer provided by storage operator DGI, Direction des Grandes Infrastructures controlled by Gaz de France. Also, as part of a new offer, imbalances would not be billed to shippers if they managed to physically balance their position via bilateral transactions with other shippers on the virtual gas exchange points (PEGs). FS
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