What action will GTS take if your exposure exceeds, or is likely to exceed, the credit limit?

GTS monitors hourly whether the exposure referred to in article B1.5 of the Transmission Code Gas TSO exceeds, or is likely to exceed, the credit limit.

• If GTS indicates that exposure is likely to exceed the credit limit due to a short POS position, the party concerned is requested to adjust its exposure so that it remains within its credit limit by either adjusting its POS to zero, providing additional securities, paying its invoices or a combination of these.
• Based on article 2.13.1 of the TSC, GTS may suspend TTF registration if a shipper has a short POS and has exceeded the credit limit or GTS has reasonable doubt that payment will be on time.
• If at any time exposure exceeds the credit limit, the party concerned must immediately provide GTS with additional financial security under article B1.10 paragraph 2 of the Transmission Code Gas TSO. GTS may also, under article B1.10 paragraph 3 of the Transmission Code Gas TSO, reject some or all of the nominations or renominations of the approved programme-responsible party.
• If exposure substantially exceeds the credit limit at any time, the approved programme-responsible party no longer complies with the conditions for approval specified in article 3.2.0 of the Transmission Code Gas TSO and GTS may revoke the licence with immediate effect as set out in article B1.10 paragraph 4 of the Transmission Code Gas TSO.Article B1.10 paragraph 5 of the Transmission Code Gas TSO stipulates that the credit limit has been substantially exceeded if:
  • exposure exceeds the credit limit by €100,000 or more; or
  • exposure exceeds the credit limit by more than 5%; or
  • exposure exceeds the credit limit for more than 24 hours