ACER Recommendations For The European Gas Market Welcomed By Stakeholders

The Agency’s recommendations for meeting the new challenges faced by the European gas market were well received by stakeholders from across the sector, who participated today in a workshop organised by ACER in Brussels.  These recommendations are aimed at improving competitiveness to ensure security of supply; facilitating the emergence of a well-functioning and transparent wholesale market and optimising the role of gas in complementing renewable energy source generation. The report also includes  an in-depth study of all relevant hubs and their trading activity, which shows that hub based pricing is already used for the majority of operations. Therefore it is of growing importance that the price formation on these hubs can be trusted,  is robust and based on a well-functioning, deep and liquid market.
 
Walter Boltz, Chair of the ACER Gas Working Group, said “increasing uncertainty about future gas demand raises the need to ensure that the liquidity of gas markets is maintained and enhanced. Our work on the Gas Target Model considers how to address this challenge.”
 
Dennis Hesseling, Head of the Agency’s Gas Department, said “A well-functioning European gas market means competitive prices for European consumers, regardless of where they are located, and a minimal risk of supply interruptions. Our recommendations identify how Europe can reap the benefits of a secure, fully implemented internal gas market for all its citizens. We invite all energy actors to work together to realise this vision."
 
The event, attended by over 120 stakeholders, marked the recent publication of ACER’s updated Gas Target Model and provided an opportunity for stakeholders to hear the results of the update of the regulatory vision for European gas market. Many also followed the event online via webstream. The Gas Target Model was finalised after a year-long process with frequent stakeholder interactions.
 
The presentations and the recording of the whole event will be available soon here.