Gas transmission and storage operator TIGF starts today implementing the modification of the price reference used to value the stored gas transferred within the context of the re-allowances of storage capacity rights between shippers at the beginning of every French gas season. This modification therefore applies for the first time to transfers relative to the 1st November re-allowances in the TIGF area.
Until now, that value was based on the price references established by Belgium’s Zeebrugge hub. From now on, it will be calculated based on the historical data of Powernext Gas Spot DAP price references that are determined every day by Powernext for the French market. “We are very pleased that the existence of the Powernext Gas exchange has enabled the emergence of quality French price references. TIGF using these price references is now a very natural choice”, comments Monique Delamare, CEO of TIGF.
“TIGF’s decision confirms the development of the liquidity on the French market and its growth in comparison with other European markets. We will continue to strongly encourage the infrastructure operators to use our price references as it is essential for their institutionalization and for the development of Powernext Gas", declares Jean-François Conil-Lacoste, CEO of Powernext.