September 13, 2017
Helsinki, Finland – UAB GET Baltic has taken into the production Enoro's natural gas trading platform with implicit capacity allocation model (ICA) according to the original schedule on the 1st of July. The trading volume of the first two months has grown 47-fold to 188 GWh in comparison with 4 GWh in reference period in 2016. The trading platform strengthens the cooperation of the Baltic countries, promotes the development of a liquid and competitive regional market, and improves the security of energy supply.
The ICA model enables the day-ahead trading of natural gas between Baltic states by taking transmission capacities between the states into account.
“By implementing a unique project jointly with the transmission system operators of the Baltic States and ENORO, GET Baltic significantly contributed to the creation of the single regional natural gas market and the development of the wholesale gas market. The natural gas market of the Baltic States becomes interesting not only for local large energy enterprises but also for international commodity traders. After the commencement of the regional trading platform the trading volumes on the GET Baltic Gas Exchange boosted from 4 GWh in July and August 2016 to 188 GWh in July and August 2017. Therefore, when developing technological solutions, we always take into consideration the needs of market players and offer more effective and more convenient services and new products”, says Mr. Gintaras Buzkys, the acting CEO of GET Baltic.
About UAB GET Baltic
UAB GET Baltic, incorporated in 2012, is a licensed natural gas market operator under the supervision of the National Control Commission for Prices and Energy (NCC). Company organizes physical trade of natural gas for a short term products based on the fully automatized electronic trading system. GET Baltic constantly listens to its customers to enhance its service and deliver it with the highest degree of reliability and integrity. The long term goal of the GET Baltic is to become the regional natural gas exchange operating in the East Baltic region, encouraging competition and generating value for the regional gas market and the players thereof. www.getbaltic.com
Enoro develops and delivers software solutions and services to create competitive advantage to energy utilities in Europe and beyond. With over 20 years’ experience and more than 250 employees, we have a unique industry experience. More than 400 companies in Europe use Enoro’s solutions daily to enhance their operations and 28 million energy customers rely on data from Enoro. Enoro’s energy data management systems draw on a deep understanding of the energy trade, regulatory environment, IT systems and business processes. Since July 2017 Enoro is part of Hansen Technologies, a leading global provider of billing and customer care technologies for Utilities, Telcos and Pay TV operators.