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TAR NC Implementation Document – Second Edition September 2017
Annex H
Article 12(3) – Example of Fixed
Payable Price (Binding beyond the
Subsequent Gas Year) and Floating
Payable Price
FIXED PAYABLE PRICE
A TSO is regulated under the price cap regime. The tariff period matches the gas
year. Fixed payable price approach is offered for the reserve price for the yearly
standard capacity product. In June (30 days before the July auction), the TSO
publishes binding tariffs for such products for the upcoming gas year from October
Y to September Y+1.
In the July auction for gas year 1, Network User 1 buys yearly standard capacity
product over 10 consecutive years starting from gas year 1. The payable price for all
booked capacity products over the period of 10 years is the reserve price for yearly
standard capacity product published in the price decision valid in gas year 1 and the
indexation is applied on it. Further, the risk premium reflecting the benefits of
certainty regarding the level of transmission tariff could be added on top, if decided
by NRA. Also, the auction premium, if any, is added on top. (Please see table 58,
Network User 1)
In the July auction for gas year 2, Network User 2 buys yearly standard capacity
product over 9 consecutive years, starting from gas year 2.
Again the payable price for all booked capacity products over the period of 9 years
is the reserve price for yearly standard capacity product published in the price
decision valid in gas year 2 and the indexation is applied on it. Further, the risk
premium reflecting the benefits of certainty regarding the level of transmission tariff
could be added on top, if decided by NRA. Also, the auction premium, if any, is
added on top. (Please see table 59, Network User 2)
The fixed payable price in each year is calculated according to the formula set in
Article 24 (b) of TAR NC.
P
fix
= (P
Ry
×
IND) + RP + AP
Where:
P
fix
is the fixed payable price;
P
r,y
is the applicable reserve price for a yearly standard capacity product which is
published at the time when this product is auctioned;
IND
is the ratio between the chosen index at the time of use and the same index at the
time the product was auctioned;
RP
is the risk premium reflecting the benefits of certainty regarding the level of
transmission tariff, where such premium shall be no less than 0;
AP
is the auction premium, if any.