TRADING PROCEDURE ON THE CENTRALIZED MARKET FOR NATURAL GAS BILATERAL CONTRACTS

EXCERPT:

“1.      PURPOSE

 1.1. The provisions of the Procedure on the operation of the Centralized market for natural gas bilateral contracts according to which the contracts are awarded through a combined process of auctions and continuous negotiation, hereinafter referred to as the PCGN Procedure, are in accordance with the provisions of the Regulation on the organized trading framework of natural gas bilateral contracts, approved by Order of the ANRE President no. ……………

The PCGN procedure has the purpose of specifying the conditions regarding:

• The specification of market operation principles;
• The registration for participation to transactions;
• The organization of auction sessions for the centralized trading of natural gas bilateral contracts – the PCGN-LN trading modality;
• The publication of information.

 1.2. The principles underlying the award of contracts for the natural gas supply under this Procedure are the following:

a)      non-discriminatory access to auctions organized for all the Supply license holders, Distribution operators and the Transmission System Operator;

b)     use of the competitive mechanisms for awarding contracts covered by this Procedure;

c)      transparency – by publication in advance, according to the terms specified in this Procedure, of information regarding the contracts to be traded and the related auction sessions, as well as by publishing the results;

d)     non-discrimination and objectivity – by applying in a non-discriminatory manner the selection criteria and the criteria for the award of contracts as to give equal chances of contract award to the participants to auctions. “

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