Evaluation of UBB and resolution of issues with NextHour product

During the Shipper Meeting on 7 November 2024, GTS expressed its concerns about a number of issues observed with the Nexthour product (including limited liquidity and remarkable price setting). Market participants were then asked to make suggestions to improve these. We welcomed the large number of constructive feedback received in response.

On 12 December 2024, this was discussed with the representative organisations (RepOrgs) and here, too, the need to resolve the issues identified was recognised. GTS has started a study into the perceived issues and with which (set of) measures they could be mitigated. The results of this study are expected to be discussed with the aforementioned RepOrgs in April 2025.

Based on this, a preferred direction will be determined. GTS will translate this preferred direction into a formal proposal to be discussed in a GEN meeting with the RepOrgs.

If the final proposal has implications for current regulations, a code amendment proposal will then be submitted to regulator ACM via the procedures usual for this purpose at Netbeheer Nederland.

In the aforementioned meeting on 12 December 2024, the legally required evaluation of the functioning of the rules around preventing undesirable balancing behaviour (UBB), as laid down in Art. 4.1.4.7 and 4.1.4.8 of the Gas LNB Transport Code, was also carried out. The results have been shared with ACM. A copy of this letter can be found here.

For any questions following this notice, please contact our Shipper Customer Desk.