Public Utilities Commission of Latvia (Sabiedrisko pakalpojumu regulēšanas komisija – SPRK) in cooperation with the storage operator are proposing amended regulations for the usage of Inčukalns Underground gas storage. SPRK announces public consultation on the proposed amendments.
“With higher gas market integration comes the increased interest of market participants for flexible operation of the gas storage. We can clearly observe it now as the regional gas marked has started its operation. Therefore, after discussions with the storage operator and the market participants, we are proposing amendments corresponding to market demands. These amendments will ensure not only efficient, secure and stable operation of the storage facility, but also promote interest from other market participants,” explains SPRK’s Director of Energy Department Liga Kurevska.
The proposed amendments will introduce new storage capacity product. It is envisaged to put in place the stored amount transfer product, aiming at minimising the residual of stored amount at the end of withdrawal season. Capacity products will be allocated after a 24h period for submitting the product reservation bids, that will ensure equal opportunities for all market participants.
There are also proposals on revising procedures for the use of capacity products and congestion management. At the same time the storage operator will face additional requirements on information transparency – information on available and technical storage capacity will have to be published not only for the current season, but also for the next season. This is necessary for better planning of storage use.
Taking into account the high interest of market participants to start reservation of the storage capacity for 2020/2021 storage cycle as soon as possible, broader scope of amendments, with active involvement of the stakeholders, will take place later this year.
Market participants can submit their proposals and comments on the proposed amendments by 4th March, 2020 to [email protected].
Consultation document available here: https://bit.ly/3aeHkFn