Role of gas storage in the context of SoS

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Presentation transcript:

Role of gas storage in the context of SoS GSE workshop on gas storage for DG ENER on 15 July 2015

Role of gas storage in the context of SoS State of play Fundamental change in market conditions: Gas storage competes within a wider flexibility market Flexibility market development from undersupply and limited access → oversupply Unbundling requirements have separated gas storage from the other chains in the value chain → more risk Price for seasonal value (Sum/Win-spread) and optional value (volatility) decreased substantially No willingness for market to pay for SoS No change in regulation: 3rd Energy Package SoS regulation Add speaking notes

Role of gas storage in the context of SoS It‘s definitely not part of our responsibility! The market will surely fix it! Things have always turned out well!

Role of gas storage in the context of SoS Review 994/2010 Physical backing for supply standard needed: gas storage ensures physical availability close to demand and ‘a hub has never produced any gas’ Member States should be able to increase supply standards if needed Member States should be able to make pivotal gas-fired power plants protected customers, provided they are physically backed by firm capacity SoS for industrial customers (not being protected customers) and how to deal with them in crisis situation ENTSOG modelling tool useful but consultation of all infrastructure operators necessary

Role of gas storage in the context of SoS Tool box approch Various Member States have various mechanisms in place, SoS tools depend on a.o.: Import dependency Ability to cover seasonal modulation needs and peak demand Demand ratio between summer and winter. Structure of gas demand (household, industry, power generation etc.) Characteristics of the existing storage facilities Compliance with Regulation 994/2010 on security of supply, etc GSE does not recommend one overall solution to ensure SoS but the ability to have several solutions – market based as well as non-market based

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