GAZ-SYSTEM Joins Polish Power Exchange

May 22, 2014

GAZ-SYSTEM S.A. became the member of the market operated by the Polish Power Exchange. This is yet another step in the cooperation between the companies, which is expected to contribute to further development of a competitive gas market in Poland.

Already on 11 October 2012 both companies signed a cooperation agreement in order to create conditions supporting the activities of companies interested in trading natural gas on an exchange market. The combination of market-based pricing mechanisms offered by the exchange with the physical delivery of the commodity ensure by the pipeline operator means that market participants are able to operate in a secure, competitive environment and be sure that their fuel will be delivered.

“With the membership in POLPX GAZ-SYSTEM S.A. will be able to purchase the gas volumes required for balancing purposes on market terms. The accession of GAZ-SYSTEM S.A. to POLPX not only fulfils the requirements of the European Network Code Balancing but also opens up further opportunities for market participants. The Intraday Market to be established soon by POLPX will offer gas supplier the possibility of balancing their deliveries also with respect to GAZ-SYSTEM S.A. As the transmission system operator we are convinced that the provision of sophisticated and flexible solutions, jointly with the gas exchange, is just as important role of the operator as are our intensive efforts to upgrade and expand the transmission system,” said Jan Chadam, President of the Management Board of GAZ-SYSTEM S.A.

“Owing to our extensive cooperation with GAZ-SYSTEM we can ensure a flexible and quick response to the needs of the players operating on our gas market. We have introduced seasonal instruments (summer and winter) with semi-annual delivery term. Soon, we are going to launch weekend contracts with two-day delivery term on Saturday and Sunday. The inauguration of the Intraday Market will be particularly instrument here as it will enable daily balancing of gas supply by interested parties,” said Ireneusz ‎Łazor, President of the POLPX Management Board.

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Press Release, May 22, 2014; Image: GAZ-SYSTEM S.A