The owners of underground storage participate as counterparties in the auctions related to the purchase of cushion gas. Shall the owners of underground storage companies register as market participants?
Yes, the owners of underground storage are counterparties of transactions related to wholesale energy products under REMIT that shall be reported to the Agency. Therefore, they will be required to register as market participants under REMIT.
Please note that Article 3(1)(vi) of Commission Implementing Regulation (EU) No 1348/2014, refers to other contracts for the supply of natural gas with a delivery period longer than two days where delivery is in the European Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
Last update: 31/07/2015
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