Greece, Launch of wholesale natural gas spot market is expected by the end of March

, SEE Energy News

According to Greek Regulatory Authority for Energy (RAE), the launch of wholesale natural gas spot market is expected by the end of March.

RAE has already approved regulations for natural gas trading on the Greek energy exchange (HenEX). It also approved a decision concerning risk management procedures and the transaction clearing system, as well as product specifications for the exchange’s gas trading platform.

The gas trading platform will incorporate a day- ahead market with products covering three-day periods, as well as an intraday platform.

The wholesale gas spot market, promising more competitive prices as well as greater transparency, will come as an addition to bilateral contracts, currently the only trading method available for transactions between importers,suppliers and large industrial consumers.