The Regulatory Committee of ANRE approved the centralized list of natural gas standardized products to be traded on the centralized markets for the short, medium and long term. The ANRE Decision lists the products that will be available for traders starting January 1, 2019 for each of the three licensed stockholders: OPCOM, BNR and Humintrade.
Thus, all three platforms will have two standardized products for the short term: intra-day products for the rest of the day, respectively products for the day ahead.
In the medium and long-term standardized product category, all operators will offer standard products for the following ranges: gas week, gas month, gas quarter, gas semester, gas year and calendar year for each of the three types of contracts: approved by ANRE, EFET standard or pre-agreed contracts, respectively contracts proposed by the initiating participant of the trading order.
Only BRM has included in the portfolio specific contracts for the cold season (delivery interval – IV and I gas quarters), respectively the warm season (delivery interval – gas and gas trimesters II and III). On the other hand, Humintrade will also propose to the market a product for a weekend delivery, based on standard EFET or pre-agreed contracts, respectively based on contracts proposed by the initiating participant of the trading order.
According to ANRE, the centralized list of standardized products will provide increased predictability and it will allow market participants to analyze how they can optimize their portfolios for trading on these markets, including in the context of the obligation established by the Electricity and Gas Law 123/2012, with subsequent amendments and completions, for trading a certain percentage of the sold / purchased quantity on the centralized markets.
The regulator also expects the development of standardized product markets to increase transparency and competition in the gas market and to create price benchmark leading to fair competition for gas operators in favor of consumers and to fair prices for end customers.