Weighted Import Prices

According to the provisions of the Ministerial Decision No Δ1/Γ/400 (Gazette Β’ 33/2007), entitled «Determination of the procedure applied to collect and process the data required to calculate the weighed average import price of Natural Gas”, the companies importing Natural gas in the National Natural Gas System (NNGS) are required to submit to RAE, every three months, data about the quantities and prices of imported Natural Gas. RAE, within the framework of its competence regarding monitoring of the energy market, following the provisions of par. 1 of article 5 in Law 2773/1999, is publicizing data on the calculated weighted average import price (WAIP) of Natural Gas in the NNGS of Greece, on a monthly basis. Publicized data on WAIP prices are the result of calculations performed on the data provided by importers according to the provisions of the aforementioned Ministerial Decision.

The publication of data on WAIP, in combination with the publication of data on daily prices of Balancing Gas Reference Price, the Balancing Gas Marginal Buy Price and the Balancing Gas Marginal Sell Price in DESFA’s internet site, allows current and future participants in the natural gas market to gain a better understanding of the price conditions prevailing in the Greek market, and therefore to exploit business opportunities and enhance competition to the benefit of consumers of Natural Gas. Furthermore, the publication of wholesale prices constitutes a necessary prerequisite for the organization, in a later stage, of a wholesale gas market, where the prices will be determined by the supply and demand in real time terms.