News / Newsletter – Gas Market Info 12 February 2020

Newsletter – Gas Market Info 12 February 2020

Gasgrid Finland’s first Gas Market Info event, held on 12 February 2020 at Finlandia Hall, had a turnout of around 100 attendees. In addition, more than thirty viewers watched the live presentations over the internet.

In his welcoming address, CEO Olli Sipilä expressed his gratitude to all parties for the successful opening of the gas market at the turn of the year. He noted that the objective of the transmission system operator is to create a safe, cost-efficient, easy-to-use, and environmentally friendly platform that contributes to the pursuit of carbon neutrality through gases.

Before the event, stakeholders were given the opportunity to complete a survey of the experiences of the first steps on the open market. The feedback was both positive and constructive, and the company will pursue active dialogue with the stakeholders to develop its activities in the right direction.

The Finnish gas transmission network is extremely reliable: over the last ten years, the percentage of unserved energy of the total volume is measured in one hundredths of per mill. Commissioned in Inkoo at the turn of the year, Finland’s first electricity-run compressor station has also operated reliably.

Interest in the open market has been higher than expected. 58 operators have registered in the Finnish gas market. These operators hold a total of 115 market roles. According to Gintaras Buzkys from the GET Baltic gas exchange, the average number of daily purchases and sales transactions in the regional gas exchange doubled after the Finnish market opened. All of the 22 traders registered in Finland are active. All of this also shows that there has been a strong case for the Balticconnector gas pipeline which was commissioned at the turn of the year.

In Finlandia Hall, speakers representing Gasgrid Finland were Anni Sarvaranta, Ville Rahkonen and Janne Grönlund. The company has decided to update strategy during 2020, and the scenario phase focusing on gas market development in Finland should be completed in the summer. In February, a survey will be sent to stakeholders, and in April, representatives of the market participants and stakeholders will be invited to a scenario workshop. Both are essential information sources for strategy work. Scenario results will be presented to the sector as soon as they become available.

Gasgrid Finland is running two processes in parallel, one of which aims to evaluate and facilitate a common tariff area between Finland, Estonia, Latvia, and Lithuania, while the other one seeks to deepen market integration and harmonisation. In his speech on behalf of the Ministry of Economic Affairs and Employment, Arto Rajala analysed the current legislation for the sector as well as the deepening of the market integration from the Ministry’s perspective and conveyed the Ministry’s congratulations for the successful opening of the market. Seemingly many smiley faces have been spotted in the corridors of the Ministry!

The audience also heard updates by Meri-Katriina Pyhäranta and Heikki Mannermaa from the Energy Authority about the tariff process and market term specification for 2020, for which they welcomed contributions from all parties.

The gas market has, indeed, been successfully opened and the focus is already on the future. All speeches are available online at https://www.mediaserver.fi/live/gasgrid and the presentation material can be downloaded from here.

Further information:

Anni Sarvaranta, Senior Vice President, Strategy and Market Development, Gasgrid Finland Oy, tel. +358 50 348 2071, anni.sarvaranta@gasgrid.fi.

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