“Gas traders of Ukraine” requires the payment of debt from Ukrtransgaz

The Association “Gas Traders of Ukraine” calls on the National Energy and Utilities Regulatory Commission, and the executive branch, to take decisive actions to curb violations of the GTS Code by the GTS operator JSC Ukrtransgaz and strengthen control over legislation compliance.  The press service of the company reports it.  

Within three months after the introduction of the daily balancing regime at the natural gas market (from March 1, 2019), JSC Ukrtransgas does not fulfill its obligations in terms of payments for positive imbalances to suppliers.

According to Ukrtransgaz, the total amount of positive imbalances to be paid to market participants during the two reporting months of 2019 was 530 million UAH.  The statements of Ukrtransgaz about the lack of resources to pay positive imbalances to market participants and about the pre-default condition undermine the credibility of market participants and in fact confirm the default status for three months already.

The most tangible losses were inflicted on small and medium-sized suppliers, who are actually in a situation of struggle for survival today.

The Association believes that silencing the problem of debt obligations, placing them on the shoulders of suppliers, carries with it the risks of a collapse in the market and the threat of a stable passage of the autumn-winter maximum of 2019-2020.

Source: kosatka.media

Tags: gas, contracts, hydrocarbon production, court, NEURC, Ukrtransgaz, GTS

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