Virtual trading point
In the natural gas industry, a virtual trading point (VTP) is a fictitious delivery point that acts as a transfer point when processing gas deliveries within a market areaserves. The virtual trading point is not assigned to any physical entry or exit point and enables gas buyers and sellers to buy or sell natural gas without booking transport capacity. Apart from the entry and exit capacities, no separate capacities are required for access to the VTP. Customers who have entry capacity in the market area can use it to bring gas to the VTP, and those who have exit capacity can use it to transport gas away from the VTP. Virtual trading points thus serve to separate the prices for natural gas on the one hand and its transport on the other.
backgrounds
Virtual trading points are a prerequisite for trading participants to set prices for natural gas and for handover to take place at a fixed point. The gas can be traded in the period between its injection and its withdrawal ( entry-exit model ). Strictly speaking, the virtual trading point is not assigned to any physical entry or exit point. It enables network users to transfer natural gas between their balance groups in the market area without booking capacity , since the same point is always chosen as the trading base. Dealers and network users can buy and sell at the VTP without booking capacity.
In the entry-exit tariff model, natural gas is fed into the virtual trading point VHP (a virtual 'Gassee') via so-called entry points. These are located in the form of natural gas storage facilities either at national borders or in Germany. The required and booked capacity is withdrawn from this gas lake at the exit points, which are also located at the state borders for transit or inland for domestic supply. The fee is no longer determined as a function of distance, but rather based on fixed, officially approved tariffs.
The European gas market was significantly changed by the 'Directive 2009/73 / EC of July 13, 2009 on common regulations for the internal gas market' of the EU. One of the main objectives of this directive is the complete separation of the operation of transmission systems from the production and trading of natural gas. This is intended to enable the ownership unbundling of integrated companies that operate both and the establishment of independent network operators.
European trading points
The most important virtual trading points in Europe are:
- Title Transfer Facility (TTF) in the Netherlands, since 2003
- National Balancing Point (NBP), UK gas trading virtual point, since 1996
- NCG Hub in Germany ( NetConnect Germany , formerly EGT), since 2009
- Gaspool Hub (GPL) in Germany, since 2009
- Zeebrugge Hub ( ZEE ) in Belgium traded on APX since 2003
- Points d'Echange de Gaz (PEG), France, since 2004
- Central European Gas Hub (CEGH), Austria, since 2005
- Punto di Scambio Virtuale (PSV), Italy, since 2003
- Punto Virtual de Balance (PVB), Spain, since 2016
Individual evidence
- ↑ Archived copy ( Memento of the original dated February 14, 2012 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Design of the market model for the Austrian natural gas market
