The objective of Market Energy Platform is to support the operation of a flexible daily market and to assist to maintain trade balance. The product was developed as part of the FGSz (Natural Gas Transmission system operator) Information Technology (IP) Platform but its technology poses many new features. Its exchange-like operation ensures a flexible daily marketplace where shippers can anonymously trade with natural gas volumes, capacities, and other flexible products, through a clearing house. Besides, realisation of the trades, the Market Energy Platform always checks if the orders to be realised can be implemented from the aspect of physical gas transmission.
The following market actors are present on the product:
Shippers (i.e. registered natural gas traders and authorised consumers of the transmission system), as trade partners.
The transmission system operator (FGSz), as a partner in balancing type orders and trades.
The clearing house, as the organisation responsible for the financial settling of the trades realised on the market.
NFKP supports the following activities:
D-1 day natural gas trading will be displayed and settled on the virtual network point of the system, which is established specifically for this purpose.
Intra-day natural gas trading is referred to decrease the commercial imbalances of gas trading (formally is the same as D-1 day trading).
Daily capacity trading is handled just like as intra-day natural gas trading. In this case the trade is subject to the necessary capacity required for gas transmission.
Trading with hydraulic balancing gas (referred to as HEG – the Hungarian abbreviation): It serves specifically the interests to maintain the physical balance of the transmission system, this implies that one of the partners is always the transmission system operator.
Tracking options for trading with hydraulic balancing gas (referred to as HEGO): The options for trading with hydraulic balancing gas constitute a market of balancing reserves for the transmission system operator.
Trading functions:
Input of selling and buying orders: The application checks if the orders are feasible with respect to capacity limits and the current deposit level of the bidder.
Anonymous display of orders: The input orders can be viewed by all users having trade authorisation; they also can input counter-offers where the bidder remains anonymous.
Order coupling: The system automatically joins the reverse-sided orders that meet order conditions.
Trade realisation: After coupling, the product removes the joined orders from the order book, and sends their data to the clearing house, along with other data of the trade realisation. Subject to the realised trade data, the system automatically performs TSO nomination, and checks whether the involved shippers enter their nomination regarding the physical shipping tasks within the prescribed deadline.
Supervision of trading: the product helps marketplace supervisors with graphical user interfaces and reports. Automatic checks are also provided. The supervisor has the permission to
suspend user or shipper trade activities,
temporarily phase out capacity points from trading,
cancel any trade order,
open/close or activate/inactivate various trading periods,
start/stop automatic system jobs.
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It gives solution to the transparent and market-based balancing tasks meeting the requirements of the European Union.
It supports the daily commercial imbalance trading, furthermore D day, intra-day trading of hydraulic balancing gas.
Actors can also trade with natural gas and secondary (bilateral) capacity products presented on the market according to the available sources.
D-1 and D day trading realized on the same platform gives the same chance to all the actors to end imbalance. Both traders and shippers have the chance to transact business. Only transactions with guaranteed shipment and financial acquitting can be concluded thanks to the integration of IT Platform and the clearing house.
Market transactions settlement is provided by the clearing house as a central party to the contract, so all-inclusive guarantee system (common on stock exchange) is reachable for all the market actors.