Procedure use neutral gas price

26 Jun 2017

Starting Tuesday June the 27th of 2017, the procedure of using the neutral gas price will change: if no neutral gas price is published by ICE ENDEX for a particular gas day, GTS will use a day-to-day reference price of PEGAS.

The neutral gas price is used, among other things, for the settlement of off-line allocations and Linepack Flexibility Service. The neutral gas price per gas day, as defined in the Transmission Code Gas TSO, is determined as the weighted average price of all contracts concluded on the gas exchange during the day, the day before and two days before the day of delivery.

The Transmission Code Gas TSO does not define how to determine the neutral gas price when it is unavailable for a shorter or longer period. Until recently, the unavailability of the neutral gas price occurred incidentally and in that case GTS used the last neutral gas price available. In order to have a more actual reference price in case of absence of the neutral gas price for a longer period, GTS looked for a temporary alternative. We have chosen to use the day-to day reference price of PEGAS. We will use the DRP index that you can find through this link, TTF DA for weekdays, TTF SAT for Saturdays and TTF SUN for Sundays.

In parallel, GTS is in contact with ICE ENDEX and is working on a structured and formalized solution in the Transmission Code Gas TSO for which we will consult the market. We hope to provide you with more information on this in short notice.