RAE Regulatory Authority for Energy : 17.01.2020 WEIGHTED AVERAGE IMPORT PRICE (WAIP) OF NATURAL GAS IN GREECE More...

According to the provisions of the Ministerial Decision No Δ1/Γ/400 (Government Gazette Issue Β' 33/19.1.2007), entitled «Determination of the procedure applied to collect and process the data required to calculate the weighted average import price of natural gas', the companies importing Natural gas in the National Natural Gas System (NNGS) are required to submit to RAE, every three months, data about the quantities and prices of imported natural gas.

RAE, within the framework of its competence regarding monitoring of the energy market, following the provisions of par. 1 of article 5 in Law 2773/1999, publicized for the first time on 3.8.2011 the data on the calculated weighted average import price (WAIP) of Natural Gas in the NNGS of Greece, on a monthly basis. Publicized data on WAIP prices were the result of calculations performed on the data provided by importers according to the provisions of the aforementioned Ministerial Decision, and for the period of March 2008-March 2011.

The chart below has been updated with the monthly data on WAIP for the period of July 2016 -June 2019 and presents the trend of the monthly data on WAIP against the trend of the monthly data on daily price of balancing gas (HTAE) for the period July 2016 - June 2018, Balancing Gas Reference Price (RP), Balancing Gas Marginal Buy Price (MBP) and Balancing Gas Marginal Sell Price (MSP) for the period July 2018 - June 2019. All the relevant price data is announced on Transmission System Operator's (DESFA) internet site.

Following the entry into force of the 4th Amendment of the National Natural Gas System's Network Code and the operation of the Balancing Platform on the 1st of July 2018, prices RP, MBP and MSP are calculated and announced daily by the TSO, on its internet site, according to the provisions of the NNGS Balancing Manual (RAE Decision 546/2018, Government Gazette Issue B' 29.6.2018).

* For the purpose of this presentation:

(a) Just the monthly data for the last three-year period (from July 2016 to June 2019) is presented in the updated chart. For the full set of data, please refer to the Gas Prices Document.

(b) The monthly average of the HTAE, RP, MBP and MSP as reported on DESFA's internet site, was used to calculate the relevant prices on a monthly basis.

(c) The fluctuation in the HTAE value during the Dec. 2016-Feb. 2017 period is the result of the gas supply shortage observed during the aforementioned period in the country. More specifically, during the 21.12.2016-26.12.2016 και 09.01.2017-13.02.2017 periods an exceptionally highly gas demand was observed in the country, presenting an increase of 47% compared to the gas demand of the previous 2015-2016 winter period mainly due to increased gas demand for heating because of low temperatures observed and increased gas demand from power producers for electricity exports.

(d) Following the entry into force of the 3rd amendment of the Gas Network Code (1/6/2017) natural gas quantities imported in Greece are allocated daily by the Greek TSO DESFA in kWh (25 oC, reference combustion temperature). Previously natural gas quantities were allocated in MWh (0 oC, reference combustion temperature).

Please refer to the permanent section on RAE's website entitled Import Prices for all announcements related to this subject.