The European Union Agency for the Cooperation of Energy Regulators (ACER) launches today a public consultation to assess the possibility of setting a cap for multipliers used to calculate reserve prices applied to day-ahead and within-day capacity products in comparison with the reference prices applied to yearly capacity products.
The Network code on Harmonised transmission tariff structures for gas introduced a number of provisions on multipliers that are used to calculate the reserve prices of quarterly, monthly, daily and within-day capacity products. More specifically, Article 13 of the Network Code sets out that the level for day-ahead and within-day multipliers for standard capacity products shall be no less than 1 and no more than 3. In duly justified cases, the level of the respective multipliers may be higher than 3.
It also provides the possibility for the Agency to issue a recommendation to cap day-ahead and within-day multipliers to 1.5 (which means that these products could not be more expensive than 150% of the corresponding yearly reference prices).
By inducing different prices for yearly and shorter-term products, multipliers affect the booking behaviour of network users. This consultation aims at understanding the various impacts of day-ahead and within-day multipliers on market integration, competition, recovery of TSOs' revenues, etc.
The Agency invites stakeholders to provide their views on the impact of day-ahead and within-day multipliers in order to assess the possibility of publishing a recommendation to limit the level of day-ahead and within-day multipliers.
All interested stakeholders are invited to submit their views by 9 December 2020, 23:59 (CET).
