Release of surplus transmission system operator’s flexibility
Article 51
1. Where long term contracts for the procurement of flexibility in force at the date of entry into force of this Regulation provide the transmission system operator with a right to off-take or input specified volumes of gas, the transmission system operator shall aim to reduce these amounts of flexibility. 2. While determining the amount of surplus flexibility available for input or off-take under a long term contract in force, the transmission system operator shall take into account the use of the short term standardised products. 3. The surplus flexibility may be released either: (a) pursuant to the terms and conditions of the existing contract where it contains provisions permitting to reduce the gas quantity committed and/or to terminate the existing contract; or (b) as follows in the absence of such contractual rights: (i) the contract remains in force until its termination pursuant to the applicable terms and conditions; (ii) the contracting parties shall consider additional arrangements in order to release back to the market any surplus gas not required for balancing purposes to give access to the other network users to greater amounts of flexibility. 4. Where the contract in force provides for reducing the flexibility by amounts consistent with the surplus availability, the transmission system operator shall reduce such flexibility as soon as reasonably possible as from the entry into force of this Regulation or as soon as the existence of the surplus can be established. 5. The transmission system operator shall consult stakeholders on specific proposals to be implemented as interim measures for release of any surplus flexibility under a long term contract in force. 6. The transmission system operator shall publish information on its balancing actions undertaken pursuant to the long term contract in force. 7. The national regulatory authority may set targets for the proportion by which the long term contracts should be reduced in order to increase the liquidity of the short term wholesale gas market.