The two ways contracts will allow covering the operators on the risk prices
(Sustainabilityenvironment) – A confirmation has arrived at the green light for the new regulatory measures to encourage the filling of gas storage in Italy. This was announced by ARERA (Regulatory Authority for Energy Networks and Environment) by publishing the criteria of the so-called “two-way contracts” (CD2V).
These are the conventions to be combined with the allocation of gas storage capacity for services with monthly injection as an alternative to the “stock premium”. Tools are designed specifically to cover any differences between gas prices in the injection period and those during the winter delivery period.
As the same the Authority explains, the CD2V “will allow greater covers for the operators on the risk of strong oscillations of the prices – legacies to the crisis Russian-Ukrainian – between the current values and those of the winter period of consumption“. Thus contributing to the goal of achieving greater availability of gas in the next cold season.
Accelerates filling of gas storage before winter
The choice of CD2V Delta is also the result of the consultation launched by ARERA in recent weeks, and which saw this measure as a favorite of respondents. This scheme provides a reference to the price of gas both in the injection phase and in the supply phase, effectively establishing an indicative value for operators with regard to the summer-winter margin. And covering additional risks due to the application of safeguard clauses.
The consultation also revealed the request to have the Italian PSV Day Ahead market as the main reference for calculating prices. “The counterparty that will have to prepare the model contract – reads in the press note – will be responsible for balancing”.
The contract for different two ways so as the premium warehouse will have to stimulate actively the filling of the storage gas with the objective to facilitate the attainment of at least a 90% in the national supplies. But they will not be the only tools. ARERA has also approved further measures to encourage the use of regasification capacity available at national terminals (Resolution 190/2022/R/gas).