In May 2017 BBLC and GTS announced they were investigating the feasibility of this integration. Since then market consultations took place and both TSO’s discussed the proposal with the regulators, Ofgem and ACM. The conclusion is that the announced market integration can start at 1 January 2018.
Bart Jan Hoevers, managing director GTS: “This collaboration contributes to the further development of the EU’s internal energy market and fits in with the ambitions of ACER’s Gas Target Model. The integration may contribute to a further expansion of TTF as the most liquid gas trading platform in Europe. It becomes easier for shippers to access the expanded TTF market place as acknowledgement of shippers will take place via one counter. By making part of its buffer available, BBL Company helps GTS balance the network, resulting in yearly cost savings for shippers.”
Luuk Feenstra, managing director BBL Company, adds: “A direct connection between the two market areas would allow shippers to anticipate on tariff differences between TTF and NBP more easily and more efficiently. Improved arbitrage opportunities should also lead to fewer price differences and fluctuations between the two trading places.”