Belgian and Greek regulatory bodies as well as Belgian and Greek natural gas system operators agreed to foster natural gas sector cooperation between the two countries.
The aim is to exchange best practices and know-how in market regulation including gas hub developments.
The Commission of Regulation for Electricity and Gas of Belgium and Regulatory Authority for Energy signed a memorandum of understanding in order to cooperate in facing the important role national energy regulatory authorities are called upon in the implementation of the EU legislation and national regulatory issues. Pursuing synergies will undoubtedly have a positive impact on the development of the energy market and the economy of both countries. By signing this agreement, CREG and RAE endorse the objective to promote effective market opening for all customers and suppliers and to ensure appropriate investment conditions, taking into account long-term objectives. Timely and meaningful exchange of information and views regarding all sectors of their competence will contribute to integrated and effective regulatory decisions.
At the same time, Fluxys and DESFA have signed an agreement with a view to creating a virtual trading point in Greece. Through its subsidiary Huberator, Fluxys operates the Zeebrugge Beach (first physical trading point on the European mainland, created in 1999) and the Zeebrugge Trading Point (virtual trading point established in 2012 in the wake of the entry into force of the Belgian entry-exit model). The agreement aims at conducting a feasibility study for the creation of a liquid wholesale gas market in Greece, which entails the setup of a notional point where market players can exchange gas commodity and contribute to a well-functioning market-based balancing regime in line with the European legislation.
Press Release; Image: TAP