24 Jun Memorandum BRM – TGE – ENEX
The CEO of the Hellenic Energy Exchange Group, Professor George Ioannou, the President of the Polish Power Exchange (TGE), Mr. Piotr Zawistowski and the President of the Romanian Commodities Exchange, Mr. Gabriel Purice, have signed a Memorandum of Understanding (MoOU) on Wednesday the 23rd of June 2021.
This Memorandum symbolizes a common willingness to promote a fruitful and long-term cooperation for the mutual benefit of all three organizations. It creates a framework for the Parties to evaluate opportunities in the field of energy exchanges (natural gas and power) and identify areas of practical work to improve and create new services to market participants. Given the interest and upcoming developments of the gas markets in Europe and specifically in East and South East Europe the Memorandum lays out a set of objectives and opens the way for combined efforts and endeavours which will add value to the market environment.
During the signing of the Memorandum, Professor George Ioannou stated that this Memorandum is the expression of a long standinglong-standing spirit of cooperation between the three parties and a roadmap that will be developpeddeveloped with further action which will promote inovativeinnovative and sustainable solutions.
Piotr Zawistowski noted that this Memorandum will start the cooperation between three different markets from north to south of the CEE and SEE, which in his opinion will help create added value of electricity and gas markets in this part of the continent.
Purice Gabriel expressed his belief concerning this cooperation and considers the promoted ideas and solutions will successfully facilitate using regional resources more efficiently. At the same time the initiative represents an attractive model to which other regional Central and Eastern European players would be interested to join. ….(+possible other comments)
Polish Power Exchange is the licensed commodity exchange in Poland operating under the Act on Commodity Exchanges. TGE runs a regulated market and an OTF in accordance with MIFID II. TGE is also Nominated Electricity Market Operator (NEMO) in Poland. TGE carries out activities for the organization and conduct of exchange trading in electricity, natural gas, property rights and CO2 emission allowances markets.
EnExGroup consists of Hellenic Energy Exchange S.A. and EnEx Clearing House S.A. HEnEx has been designated by the Greek Regulator (Regulatory Authority for Energy-RAE) as the single Nominated Electricity Market Operator (NEMO) in Greece for the operation of the Day-Ahead and Intraday Electricity Markets and is also operating the Energy Financial Market, as Market Operator of the Energy Derivatives Market. EnExClear is a subsidiary of HEnEx, responsible for the clearing and settlement of transactions concluded in the Day-Ahead and Intraday Markets, as well as the clearing and settlement of positions in the Balancing Market. HEnEx will soon operate a Natural Gas (NG) Trading Platform assuming the role of TPO (Trading Platform Operator) under EU 312/2014. EnExClear will be responsible for the clearing and settlement of the transactions concluded in the NG Trading Platform.
BRM a legal entity that carries out activities for the organization and conduct of exchange trading in the natural gas market of Romania. BRM operates the Balancing Market on behalf of the Romanian TSO (Transgaz S.A.), concluding clearing transactions for the Romanian SPOT, Forward and recently Future Markets, through its department BRM CCP. The Romanian Commodities Exchange is an operating commodities exchange founded in 1992, with growing business activity in the field of commodities and a diversified range of products developed on the energy market (natural gas, power and petroleum products, as well as agricultural products, cereals and CO2 certificates).