Update on introduction of new Virtual Interconnection Points (VIPs) with Trading Hub Europe (THE)
On 17 December 2020 we informed you with this newsitem that the integrated German market (Trading Hub Europe) will be operational as of 1 October 2021. Because of this market merger the existing four VIPs (VIP-TTF-NCG-L&H and VIP-TTF-GASPOOL-L&H) with Germany will be merged into two new VIPs that will be created between TTF and THE. One for H-gas: VIP TTF-THE-H and one for L-gas: VIP TTF-THE-L.
Recently the German TSOs informed us that they will not be able to realize both VIP mergers as of 1 October 2021.
The merging of the L-gas VIPs is still planned for 1 October 2021, but the merger of the H-gas VIPs has been postponed until 1 April 2022.
Based on constructive considerations with our German neighboring network operators we come to the conclusion that postponing the H-gas VIP merger is inevitable.
Together we will continue the preparations for the merger of the L-gas VIPs and we will define an adjusted (time)route for the merger of the H-gas VIPs.
Auctions
The first time the new VIP TTF-THE-L will show up in an auction will be the Day Ahead auction on 30 September 2021. All prior auctions with effect as of 1 October 2021 or later (Yearly, Quarterly and Monthly) will be executed on the current L-gas VIPs. Contracts resulting from the current market situation (Gaspool, NCG) will be part of the transfer process described below.
Automatic transfer of your current L-gas VIP contracts
As informed previously the existing VIP-TTF-GASPOOL-L (301547) and VIP-TTF-NCG-L (301544) will be merged into the new L-gas VIP between TTF and THE: VIP TTF-THE-L (301568).
The current L-gas VIP contracts will be transferred automatically to the new VIP TTF-THE-L (301568). This will take place after the results of the Monthly auction for October 2021 on 20 September 2021 are known. Your transferred VIP TTF-THE-L contracts will be available for use from 1 October 2021. Each individual shipper will be informed with regards to the new booking-IDs that result from this automatic transfer.
The VIP transfer servicewill remain available for you. With that service you can transfer (parts of) contracts on the underlying IPs to the merged VIP. Because we will change the L-gas IP-VIP setup in September the IP-VIP transfer service will not be available from 1 September 2021 until 1 October 2021.
H-gas VIPs
The transfer of contracts on the H-gas VIPs will be handled in a similar way. Once the date for that merger is final we will update you on the exact timing.
If you have any questions you can contact our Customer Desk at +31 50 521 33 33 or [email protected]