The Pricing Commission Approved the Regulations of the Natural Gas Exchange and Fees for the Services

2012-12-20

The Regulations of the Natural Gas Exchange and fees for the services of UAB GET Baltic were approved at the meeting of the National Control Commission for Prices and Energy held on 20 December. The Regulations of the Natural Gas Exchange mean the set of trading rules establishing fundamental requirements to the natural gas market players who want to carry out trade in natural gas at the Exchange. The Regulations set forth rules for the submission, amendment, and withdrawal of commissions, entering into deals, price fixing, the terms and ways of settlement, the procedure for the supervision of trading at the Exchange, and etc.

“The Regulations and fees for services approved are the latest steps before the beginning of trade at the Exchange. All that is left to do is to enter into contracts with market players and start trading. We are going to do this already at the beginning of January of the next year,” said Haroldas Nausėda, CEO of UAB GET Baltic.

To enable market players to try this new instrument of trade in natural gas, UAB GET Baltic applies 100 % discount rate to the initial registration fee and the annual membership fee for 2013.Thus, in 2013, the participants of the Exchange will only pay if they fulfil commissions to buy or to sell natural gas, in this event they should pay for the Exchange services as per tariff: LTL 3.00 per thousand cubic meter of gas.

Trade at the Exchange is an alternative means for trade in natural gas, the exchanges of this type are widely operating in other Member States as well. The Natural Gas Exchange allows natural gas market players to plan their routine activity and the development of their activity and other procedures even more flexibly.

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