The European Union Agency for the Cooperation of Energy Regulators (ACER) announced on Tuesday (17 October) that it is planning a public consultation to assess the current market rules and collect views from stakeholders on potential reforms.
The public consultation is set to open on 14 November until 5 January 2024. ACER will also hold a workshop on 12 December this year.
The European regulator will “benefit” from this information when it may recommend amendments to the market rules regulating gas transmission capacity allocation in Europe (Capacity Allocation Mechanisms Network Code).
“With gas markets being impacted by a global pandemic (2020) and a European energy crisis (2022), the resilience of the current market rules (also known as “network codes”) has been tested. Although they have mostly ensured a proper market functioning (see ACER’s Market Monitoring Reports and congestion reports), lessons have yet to be learned to further enhance market resilience,” ACER said in a press release.
The European gas market must also ensure “its readiness to align with the latest policy and technological developments, guaranteeing that the decarbonisation targets set by the Green Deal can be met,” the European regulator added.
The importance of having gas market rules which can “adequately reflect” this evolution was emphasised at the European Gas Regulatory Forum earlier this year. This “prompted” the revision of the Capacity Allocation Mechanisms Network Code, ACER said.
The rules for allocating gas transmission capacity have been in place since 2017, when the current version of the Network Code on Capacity Allocation Mechanisms was adopted. These market rules harmonise how network users can utilise the gas transmission network to enter or exit a market, and how these capacity rights can be obtained.