10.4.2017

Survey commissioned by ACER finds market participants still experiencing barriers to EU gas wholesale market trading

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​The Agency publishes today the Image removed.results of a survey conducted among wholesale market participants - mainly shippers, suppliers, traders and energy intensive customers - across the EU on the remaining barriers to gas wholesale market trading. The survey was commissioned by the Agency and conducted by a Consultant.

The Image removed.results of the survey provide input into the assessment of developments in gas wholesale markets which the Agency performs every year for the preparation of its Market Monitoring Report (MMR). In fact, one of the legal requirements of the MMR is to detect and assess market barriers hindering the implementation of the European Internal Energy Market. However, at this stage the results of the survey only reflect the opinions of those market participants that participated in the survey. They do not necessarily reflect the views of the Agency nor those of the National Regulatory Authorities (NRAs).

The main identified barriers were categorised by the Consultant by hub development category. Whereas the most important barriers for established, advanced and emerging hubs overlap to a large degree - albeit at different levels of intensity - those experienced in illiquid hubs differ significantly.     

Main barriers identified by market participants in established, advanced and emerging hubs 

  • For established hubs (Great Britain, Netherlands), advanced hubs (Austria, Belgium, France, Germany, Italy) and emerging hubs (Czech Republic, Denmark, Poland, Spain): non-competitive transmission tariffs, for both short-term and long-term capacity and non-competitive short-term capacity products at interconnection points.      
  • ​Regulatory transparency related to transmission tariffs at the interconnection points (methodology and setting) and the overall regulatory framework such as consultations, could be further enhanced.      

Main barriers identified by market participants in illiquid hubs

  • For illiquid hubs (Bulgaria, Croatia, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Portugal, Romania, Slovakia, and Slovenia) weakpolitical support to wholesale market development and the absence of an organised gas hub are cited the most.      
  • Insufficient flexibility in the products offered at the hub and/or at the exchange as well as a lack of a reference (or at least import) wholesale price or unclear price formation mechanism are other major barriers.      
The Consultant’s report can be downloaded Image removed.here.

You can find the latest Market Monitoring Report here. The Agency intends to publish a new edition covering 2016 in November.​