Gas: Auctions for ENI’s “gas release” to be held by 3 September
Milan, August 07, 2009
Italian versionBy this coming 3rd September, ENI must finish the auctions for placing a volume of 5 billion cubic metres of gas on the market by means of non-discriminatory competitive procedures.
Today’s resolution by the Italian Regulatory Authority for Electricity and Gas indicates the procedure for carrying out the “gas release” on the basis of the provisions of the decree of the Ministry of Economic Development implementing the “anti-crisis decree-law” (Decree-Law no.78/09, converted into Law no. 103 of 3/08/09).
In fact, the “anti-crisis” Decree-Law no.78/09 states that the Regulatory Authority for Electricity and Gas, in compliance with the lines defined in the same decree of the Ministry of Economic Development, is to outline the terms and conditions on the basis of which ENI will offer a volume of 5 billion cubic metres of gas on the market for the 2009-2010 thermal year.
In accordance with said regulation, the Authority has established that the procedures shall ensure the utmost impartiality and that the total offer shall be broken up into lots, “characterized by constant daily quantities throughout the entire delivery period”.
In particular, the following are envisaged: yearly lots (for delivery from October 2009 through September 2010) and half-yearly lots (for delivery from October 2009 through March 2010).
The lot assignment procedures envisage that a single price be defined for each product type.
Resolution ARG/gas 114/09 may be consulted on the Authority’s website: www.autorita.energia.it.