Fluxys Belgium and Creos Luxembourg informed they have launched the first ever gas market integration between two EU member states, namely Luxembourg and Belgium.
The merging of the Luxembourg and Belgian gas markets is the result of around two years of collaboration between Creos Luxembourg, Fluxys Belgium and their respective regulators, the Luxembourg Regulatory Authority (ILR) and Belgium’s Regulatory Commission for Electricity and Gas (CREG).
Pascal De Buck, Chairman of the Executive Board and CEO of Fluxys Belgium said: “ We firmly believe that market integration is the best way to enhance the functioning of the liberalised gas market and boost security of supply in Europe.”
“ With annual consumption of around 20 billion cubic metres and some 70 active suppliers, the integrated market opens up more opportunities for competition and boosting liquidity at the Zeebrugge Trading Point (ZTP). Since transmission costs will no longer be included in suppliers’ gas prices, consumers will have better price transparency ,” said Claude Seywert, CEO of Creos Luxembourg.
Image: Fluxys