News


28 Nov 2019
Operational start of integrated management of guarantees (netting) in the MGP and MI energy markets and in the spot gas market (MP-GAS)

Following the previous notices dated 7/8/2019, with reference to the operational start-up of integrated management of guarantees (netting) in ​​the MGP and MI energy markets and in the spot gas market (MP-GAS), we hereby inform that, starting from today, the above amendments become effective:


        -  Integrated Text of the Electricity Market Rules (hereinafter: ME Rules);
        -  Natural-gas Market Rules (hereinafter: MGAS Rules);

approved by the Ministry of Economic Development with Ministerial Decree of 2 August 2019.

Along with the aforementioned amendments, the following new versions of the Technical Rules of the ME and MGAS will become effective starting from today, adjusted following the amendments to the ME Rules and the MGAS Rules for the introduction of the netting mechanism.


ELECTRICITY MARKETS:
  • Integrated Text of the Electricity Market Rules :
  • Technical Rule no. 03 rev6 ME: Loss of Qualifications or Default by the Bank Issuing the Bank Guarantee
  • Technical Rule no. 04 rev7 ME: Submission, compliance, allocation and return of guarantees
  • Technical Rule no. 05 rev1 MTE: Closing of contractual positions upon default
  • Technical Rule no. 07 rev8 ME: Adequacy Verifications of Guarantee Coverage
  • Technical Rule no. 08 rev13 ME: Invoicing of Payables/Receivables and Settlement of Payments
  • Technical Rule no. 18 rev1 MPE: How to submit the trading offers/bids on the MPEG;
 GAS MARKETS:
  • Natural-gas Market Rules:
  • Technical Rule no. 07 rev2 M-GAS: Types of contracts, Duration of the Trading Period and Cascading Mechanism
  • Technical Rule no. 12 rev1 M-GAS: Closing of open positions
  • Technical Rule no. 14 rev1 M-GAS: Loss of Qualifications or Default by the Bank Issuing the Bank Guarantee
  • Technical Rule no. 15 rev1 M-GAS: Bids/Asks Adequacy Verification of Guarantee Coverage
  • Technical Rule no. 16 rev5 M-GAS: Invoicing of payables/receivables and settlement of payments
  • Technical Rule no. 17 rev1 M-GAS: VAT Taxation in the Gas Market
  • Technical Rule no. 19 MGAS: Submission, compliance, allocation and return of guarantees

Finally, we would also like to inform that the amendments to the OTC Registration Platform Rules (hereinafter: PCE Rules) and to the relevant Technical Rules become effective starting from today - approved by the Regulatory Authority for Energy, Networks and Environment (ARERA) with Resolution no. 411/2019 of 15/10/2019 - made in order to adjust the provisions contained therein to the amendments to ME Rules and the MGAS Rules for the introduction of the netting mechanism.


OTC REGISTRATION PLATFORM (PCE):
  • Rules Governing the OTC Registration Platform  
  • Technical Rule no. 04 rev3 PCE: Validation and technical adequacy verifications and Guarantee Coverage
  • Technical Rule no. 06 rev15 PCE: Time periods and procedure for invoicing and settlement of payments
  • Technical Rule no. 10 rev6 PCE: Submission and return of guarantees
  • Technical Rule no. 11 rev3 PCE: Loss of qualifications or failure to fulfil guarantee obligations by the bank issuing the financial guarantee



Gestore dei Mercati Energetici S.p.A.
Sole Shareholder: Gestore dei Servizi Energetici - GSE S.p.A., as per art. 5, Legislative Decree 79/99
Company subject to the management and coordination of Gestore dei Servizi Energetici – GSE S.p.A.
Share Capital: € 7,500,000.00 fully paid up
Registered Office - Viale Maresciallo Pilsudski, 122/124, 00197 Rome tel.no. +39-06-80121, fax no. +39-06-80124524, email: info@mercatoelettrico.org
Rome Companies' Register, VAT and Taxpayer's Code: 06208031002 Rome Economic and Administrative Index: 953866