Baltic, Energy, EU – Baltic States, Gas, Gas Market , Good for Business
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 09:20
Regional Gas Exchange GET Baltic has launched new market area in Finland
The first trade was registered today at 07:21 AM for the gas
delivery to Finland from the Common Latvian and Estonian market area for an
amount of 1000 MWh at 16,00 EUR/MWh. Both physical spot and forward contracts
are now available for trading via regional trading platform and will lead to
the delivery of natural gas at the Finnish Virtual Trading Point, which is
operated by Gasgrid Finland.
In addition, the implicit capacity allocation model, also
known as GET Baltic’s market integration technology, is applied and will
contribute to the price convergence in the region and will simplify the
cross-border trading between the Finnish and Baltic gas market players. “By
expanding to Finland, GET Baltic has taken a final step in establishing
a one-stop-shop for natural gas trading in the region. Moreover, by integrating
short-term gas markets on the regional gas exchange, we have created favourable
conditions for new gas market players to enter the open Finnish gas market and
to contribute to the higher liquidity, competition and price transparency”,
says Gintaras Buzkys, Chief Business Development Officer at GET
Baltic.
“As GET Baltic, we will continue adapting our
technology-driven organization to evolving market demands and strive to deliver
simple, efficient and reliable gas trading solutions to our customers. We are
therefore confident that our products will match the energy traders’ needs to
find suitable counterparties, inside and outside of Finland, while benefitting
from the GET Baltic’s regional trading platform, which connects
different markets into one liquidity pool”, added Gintaras Buzkys.
The number of participants and transactions concluded on
different market areas of the regional gas exchange is constantly growing.
Currently, 92 market participants are registered on the GET Baltic’s gas
exchange. For 20 leading energy and industrial companies GET Baltic has
granted access to the Finnish market area, including 2 Market Makers who will
take responsibility in maintaining sufficient liquidity and continuous trading
on the Finnish market area by periodically providing natural gas sale and
purchase orders through the trading platform of the regional gas exchange.
GET Baltic operates as a licensed natural gas market
operator with the status of Registered Reporting Mechanism provided by ACER.
The Company administrates the electronic trading system for trading spot and
forward natural gas products with physical delivery in the market areas located
in Lithuania, Latvia, Estonia and from 1st January 2020 Finland. The
development of tailor-made solutions for natural gas trading is intended to
contribute to increased liquidity, competitiveness and transparency of
wholesale gas markets in the Baltic States and Finland.
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