Code Modification Forum Clayton Hotel, Cork Wednesday, 26 - - PowerPoint PPT Presentation

Code Modification Forum

Clayton Hotel, Cork Wednesday, 26 September 2018

Agenda (1 of 2)

1. Review of minutes from last meeting 2. Review of Action Items from last meeting 3. GNI Scheduled Maintenance Update –Operational /IT/ Maintenance report on Pipeline between Correcunna and Raheen AGIs 4. Emergency Exercises 2018

• 5. Intra-day Nomination Patterns and Profiles / Cod Mod Proposal A086-Incentives for Intra-day Balancing
• 6. Code Modification Proposal A087- Implementing a new framework for Suppliers to contract their payment

channels for PPM customers

• 7. Biogas update including review of 1) Code Modification Proposal A091- Modification of oxygen content levels for

Renewable Natural Gas (RNG) injected from RNG Entry Points and, 2) Code Modification Proposal A093-RNG Outline Code Modification

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Agenda (2 of 3)

• 8. Code Modification Proposal A095- Adjustment of Daily Shipper Imbalance Charges/ Code Modification Proposal

A094 – Changes to Shipper Portfolio Tolerances 9 . Brexit and ROI Gas Market

• 10. Data Sharing Agreement
• 11. Shrinkage Gas Report
• 12. Gas and Electricity Interaction
• 13. Transparency Data Update
• 14. Website Feature Update
• 15. Trading Platform Update- GNI Participation
• 16. AOB

Next Code Modification Forum Meeting

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1. Review of minutes from last meeting

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2. Review of Action Items from last meeting

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ID Action Responsibility Status Priority C538 Transporter to continue consultation process surrounding intra-day nomination patterns and profiles Transporter Open High C566 Transporter to publish data on regular intervals in relation to IBP System Marginal Prices Transporter Open Medium C567 Transporter to carry out development work on its Website to make it more user friendly for Shipper Transporter Open Medium

Code Modification Forum – Open Actions (Slide 1 of 2)

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3. GNI Scheduled Maintenance Update

Code Modification Forum

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Network Maintenance Update

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Location Nature of Works Planned Timings (Subject to change) Duration (days) Entry/Exit Points Affected Impact on flows at entry/exit points affected

NOTHING TO REPORT

• 1. Upstream Operator Maintenance

GNI have been advised of the following scheduled Maintenance Upstream of Entry Points:

2017/ 2018 GNI Proposed Maintenance Days

Maintenance Programme Gas Year 2017/2018 Date Duration Entry Points Commentary 7th Feb 2018 1 day Corrib Not required 1 day Inch Not required 31 May-1June 9 May 1 day Corrib SCADA signal validation testing . Now postponed due to deferment of SEPIL transition date 1 day Inch In-Line Inspection (ILI) run between Inch, Lochcarrig Lodge and Caherlag. Date to be finalised with pigging contractor/Odorant tank refill at Inch. Zero flow whilst this takes place. 4th Jul 2018 1 day Corrib Fuel gas skid connection at Cappagh South. May not affect flow. Now postponed, was scheduled to tie-in with maintenance which is now deferred 1 day Inch Not scoped yet 12th Sep 2018 1 day Corrib Not scoped yet 1 day Inch Not scoped yet

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Note: Dates and maintenance programme may be subject to change

2018/ 2019 Maintenance Days

Maintenance Programme Gas Year 2018/2019

Date Duration Entry Points Commentary 8th November 2018 1 Inch Deferred in line inspection. Risk to flow during intelligent pigging run 7th March 2019 1 Bellanaboy Station testing, valve check and validations at Cappagh South. 9th May 2019 1 Inch Odourant injection system planned maintenance 4th Jul 2019 1 Moffat Station testing, valve checks and validations at Beattock and Brighouse Bay compressor station 12th Sep 2019 1 Bellanaboy ESD testing at the Corrib Terminal

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IT Maintenance Update

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Nature of Works Planned Timings (Subject to change) Duration (days) Systems Affected Nothing to report

Please note the above works/timings/duration are subject to change

Gas Networks Ireland

Repair of Pipeline 07 – Anglesboro

Liam Murphy – Regional Operations Manager - South

Background

• Following an in-line inspection (ILI) of pipeline PL07, Goatisland to Curraleigh West,

by Baker Hughes-GE, a corrosion anomaly of depth 25% of the nominal pipeline wall thickness was identified between the Corracunna and Raheen above ground installations (AGIs). The corrosion was scheduled for excavation and detailed inspection as one of 12 pipeline anomalies in GNI’s ILI verification programme. Upon excavation and inspection, the corrosion anomaly was measured to have a depth of 51% of the local pipeline wall thickness and was found to be interacting with a larger area of general corrosion spanning a girth weld.

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Location and Extent of the Defect:

• The corrosion pit was discovered at the 4 o’clock position under a field fitted shrink

sleeve at a girth weld. It was not located in the girth weld heat affected zone (HAZ) however it was found to be interacting with a larger area of general corrosion which spans the girth weld. Based on the available information, the corroded area is broadly rectangular shaped, area of general corrosion, including a number of pits with a peak metal loss depth of 3.164 mm (51% local wall thickness), axial length 360 mm and circumferential width 400 mm.

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Repair Options

• The installation of an Epoxy Resin Sleeve
• Double Stopple and Bypass
• Welded Steel Sleeve

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Pressure Reduction for Repair

• Required Pressure of 23 bar
• Isolation of Pipeline 07 to Achieve Reduction
• Line Shut in at Raheen AGI and Corracunna AGI
• Line Pressure Reduced by demand at Mitchelstown
• Pipeline Pressure Reduction Started at 00:01 03/09/18
• Pipeline back in Service 04:30 06/09/18

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Laser Scan to determine levels of corrosion

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Pipeline shot blasted to SA 2.5

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Shell of Epoxy Resin Sleeve positioned

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Shell bolted and torqued

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Ends sealed and shell filled with epoxy

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Pipeline wrapped and excavation backfilled

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Code Modification Forum

• 4. Emergency Exercises 2018

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NEC Exercise Zeus - 3rd & 4th October

• Exercise Zeus is the UK Gas Industry’s annual Network Gas Supply Emergency (NGSE)

Network Emergency Coordinator (NEC) validation exercise.

• Exercise will simulate a high demand day (1st March 2018) with a scenario set to trigger a

NGSE.

• Exercise will seek to test communication methods between National Grid’s Network

Emergency Management Team (NEMT) and all exercise participants including GNI.

• Further Information available at:

‒ https://www.nationalgridgas.com/safety-and-emergencies/network-gas-supply-emergencies- ngse

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NGEM Exercise - 24th October

• The National Gas Emergency Manager (NGEM) exercise will take place on the 24th October.
• Validation of the Natural Gas Emergency Plan (NGEP); plan available at:

‒ https://www.gasnetworks.ie/corporate/company/our-network/

• Exercise will simulate a high demand day with a scenario set to trigger a natural gas

emergency.

• Gas Emergency Response Team (GERT) will be convened as part of the exercise (GERT

members: DCCAE, CRU, EirGrid, GNI).

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• 5. Intra-day Nomination Patterns and Profiles /Code

Mod Proposal A086 –Incentives for intra-day Balancing

Code Modification Forum

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Outline of proposed GNI Modification A086

• Modification Raised by GNI to address concerns that the aggregate system imbalance intra-day is creating
• perational difficulties.
• At times, there are large deviations between the prevailing exit nominations on the system and the prevailing

entry nominations. GNI wish to introduce an incentive to encourage more alignment of entry and exit

• PROPOSAL: At check points during the gas day (11:00, 17:00, 23:00) a shippers portfolio Nomination Imbalance

position will be recorded.

• A tolerance will be applied at each point
• Worked Example:

A shipper has 24 units of Aggregate Exit Nomination at 11:00. ‒ Deemed flow at Exit = (24 units * 6hrs/24hrs) = 6 units ‒ Total Entry Nomination = 4 units ‒ Apply a [10%] tolerance: Adjusted Nomination Imbalance Position

• Nomination Imbalance Position = (6 * 90 %) – 4 = 1.4 units

‒ The Adjusted Nomination Imbalance Position at the 3 time checks will be added ‒ The total for the day will be multiplied by [SAP] * [x%] ‒ The amounts for each day in a month will be invoiced at month end.

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Impact if Code Mod was applied in November 2017 –August 2018

• There was a marked improvement in Shipper Nominations following discussions of the proposed modification at

recent code mod forums. The estimated monthly financial impact dropped from €334k (November) to €67k (January).

• However, during Mid February to June late day nominations (attributable to 3 Shippers) has resulted in almost

hourly batches late in the gas day, causing operational difficulties once again for both GNI and National Grid.

• July showed an improvement in the behaviour of these 3 Shippers,
• August shows a further improvement of shippers 1 & 3. Shipper 2, although having a 3% decrease in July, has a

64% increase on potential costs from July to August.

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Impact if Code Mod was applied in November 2017 –August 2018

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50000 100000 150000 200000 250000 300000 350000 400000 450000 500000 NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST

Euro

Intraday Imbalance Nov 2017 - August 2018

Impact if Code Mod was applied in November 2017 –August 2018

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June 2018

• 3 Shippers would have received charges ranging from €52k to

€295k

• Total charges: €452k
• 99% of charges attributable to same 3 shippers

July 2018

• 3 Shippers would have received charges ranging from €25k to

€73k

• Total charges: €156k
• 98% of charges attributable to same 3 shippers

August 2018

• 4 Shippers would have received charges ranging from €9k to

€89k

• Total charges: €145k
• 99% of charges attributable to 4 Shippers

Shipper May to June Increase/ Decrease June to July Increase/ Decrease July to August Increase/ decrease 1 191% Increase 92% Decrease 63% Decrease 2 0% Increase 3% Decrease 64% Increase 3 229% Increase 26% Decrease 59% Decrease 4 N/A (0 potential charge in May) 43% Increase 445% Increase

• 6. Code Modification Proposal A087-,Implementing a

new framework for Suppliers to contract their own payment channels for PPM customers

Code Modification Forum

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A087: Proposal for new contractual arrangements for PPM front

• ffice services
• The front office service providers

(Payzone, An Post) provide a service to gas suppliers and gas customers i.e. they facilitate customers topping-up (vending) and collect money from customers to be subsequently re- distributed to the relevant gas supplier.

• Suppliers pay the front office providers

for the service.

• GNI proposes to change current

arrangements so that Suppliers, rather than GNI, procure and contract for these services.

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Figure: Proposed contractual arrangements

A087: Discussed at GMARG with mixed views from suppliers

Comment

Supplier 1 In favour of proposals Supplier 2 Concern that smaller suppliers and/or new entrants would be disadvantaged Supplier 3 Concern that larger suppliers would be able to negotiate better terms than smaller and concern related to resolution of industry wide issues Supplier 4 Opposed to the proposal

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Table: GNI received 4 written submissions from suppliers

Other issues raised in discussions included

• Contingency
• Timeline for implementation

A087: Discussed at GMARG with mixed views from suppliers

Comment

Supplier 1 In favour of proposals Supplier 2 Concern that smaller suppliers and/or new entrants would be disadvantaged Supplier 3 Concern that larger suppliers would be able to negotiate better terms than smaller and concern related to resolution of industry wide issues Supplier 4 Opposed to the proposal

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Table: GNI received 4 written submissions from suppliers

Other issues raised in discussions included

• Contingency
• Timeline for implementation

A087: Transporter view

• GNI maintains its view that it should not be within the remit of the DSO to procure this

service on behalf of suppliers.

• The risk associated with a single procurement of front offices services, which was

highlighted during the last procurement process, can be lessened by multiple procurements.

• GNI have put in place two front office service providers that suppliers already have existing

relationships with.

• Suppliers should be free to contract with whatever front office providers they can reach a

commercial agreement with and GNI should not be involved in these negotiations.

• GNI accepts it will maintain a co-ordination role across the market.

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7.Biomethane Code Modifications/ Biomethane Project

• Code Modification Proposal A091-Modification of
• xygen content limits for Renewable Natural Gas

(RNG) – under review

• Code Modification Proposal A093 –RNG Outline Code

Modification at legal drafting

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Code Modification Forum

8.Code Modification Proposal A095- Adjustment of Daily Imbalance Charges/Code Modification Proposal A094- Changes to Shipper Portfolio Tolerances CRU MINDED TO OPINION

Code Modification Forum

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Code Modifications - Live

Number Title of Proposal Proposer Status A085 Profiling of Gas Flows at Entry Points IOOA Live/Parked A086 Intra-day Nomination Incentive Proposal GNI Not yet issued A087 New Framework for Suppliers in PPM Market GNI Live/Consultation A090 Proposed new Invoice Dispute Resolution Procedure BGES Live/ Parked A091 Modification of oxygen content limits for Renewable Natural Gas (RNG) injected from RNG Entry Points GNI Live A092 GNI Trading Platform participation GNI Live/Legal Drafting A093 RNG Outline Code Modification GNI Live/ Legal Drafting A094 Changes to Shipper Portfolio Tolerances GNI Live/Consultation A095 Adjustment of Daily Imbalance Charges GNI Live/ Consultation

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Code Modification Forum

9. Brexit and ROI Gas Market

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Brexit – next steps (from last CMF)

• White Paper published

July 12th 2018

• Ongoing negotiations between EU and UK

July – September

• EU Summit – most likely opportunity for a final agreement on the

UK divorce from the bloc and a statement on future relations

October 18/19th 2018

• Emergency summit?
• A further EU summit could be needed to finalise the divorced deal if

the deadlock on Ireland continues in October.

November 2018

• The last European Council of 2018
• Widely seen as the last practical date for an Article 50 divorce deal

to be signed off by Britain and the EU

December 13/14th 2018

VERY LITTLE/NO PROGRESS CURRENTLY RULED OUT LIKELY TO GO AHEAD CURRENT BEST CASE SCENARIO

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 GNI have ongoing interaction with DCCAE, CRU, BEIS & Ofgem with regard to Brexit in addition to National Grid, PTL and other EU TSOs directly impacted by Brexit where discussions have recently focussed on a ‘no deal’ scenario  We would welcome any comments/concerns you may have particularly in the event of a ‘no deal’ Brexit

Brexit – Stakeholder engagement

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 22nd August - EU energy legislation: letter announcing an upcoming statutory instrument

https://www.gov.uk/government/publications/eu-energy-legislation-letter-announcing-an-upcoming-statutory-instrument

• 6th September – Brexit: energy and climate change

https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8394

 10th September - What if there’s no Brexit deal?

https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8397

Brexit - some recent documents published containing energy related items

Code Modification Forum

• 10. Data Sharing Agreement Update

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• Conference call held on 5th July
• In advance of the call Energia had circulated a note with detailed comments
• After the call Shippers were asked for input on 3 questions

1. Should DSA be by Ancillary Agreement or incorporated into Code 2. Shippers were asked to provide comments on the content of the Draft Agreement (v181613 GNI Data Sharing Ancillary Document ISSUED) 3. Shippers were asked to provide comments on the points raised by Energia

• Shipper comments to be returned by 26/07/18

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• 10. Data Sharing Agreement Update

• 5 Shippers returned detailed comments
• Wide divergence of opinions
• GNI has submitted details of the comments to CRU
• GNI supports inclusion of individual clauses into Code of Operations

‒ Data Controller to Data Controller is a key concept, generally accepted by industry ‒ Current Code needs to be amended to reflect this and other GDPR points

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• 10. Data Sharing Agreement Update

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• 10. Data Sharing Agreement Update

Shipper Best Structure of Agreement: Ancillary/Code Mod/Bilateral Comments on Energia Comments Comments on previous Draft DSA Other Comments Energia Code Provisions N/A As circulated to GMARG/ Code lists Shipper 2 Code Provisions Broadly agreed, minor edits proposed re warranties, indemnities Minor edits proposed |Indemnity to be reciprocal Shipper 3 Note 1 Shipper 4 Code Modifications Support Comments Shipper 5 Negotiated Bilateral Agreements Generally Supports comments Minor edits proposed Concern on potential CRU function regulating Data Protection GNI Position Code Provisions Reconsidering warranties, Indemnities N/A Code needs to address GDPR, recognise Controller to Controller relationship

• 1. Shipper indicated it would not be able to submit comments within the timeframe due to leave periods, comments to follow

(REF) Data Sharing Agreement

• At Code Mod Forum discussion on the Regulatory risk potential of “double jeopardy”
• Risk potential of “double jeopardy” identified as key issue
• GNI working to explore options to minimise risk and will revert to industry

Code Modification Forum

• 11. Shrinkage Gas Report

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Background on Shrinkage

• In accordance with Part E Section 2.3.2 Shrinkage Costs shall be recoverable by the Transporter.

"Shrinkage Gas" is defined as Own Use Gas and/or Natural Gas required to replace Unaccounted For Gas: ‒ Own Use Gas means “Natural Gas which is used by the Transporter…including at compressor stations and/or pre-heating and venting purposes; and ‒ Unaccounted For Gas means “Natural Gas which is lost or otherwise unaccounted for from the Transportation System or any localised part thereof.

• Shrinkage Costs are recovered through a combination of:

‒ Monthly Shrinkage Invoice: “each Shipper shall be liable to pay to the Transporter …on a Monthly basis the cost in respect of any Shrinkage Gas apportioned to such Shipper pursuant to Section 2.4.3…”; and ‒ Annual “Stock” Charge: “all other Shrinkage Costs (excluding the costs actually recovered by the Transporter pursuant to Section 2.5.2) …shall be recoverable from Shippers … in accordance with Section 1.4…”

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Total Shrinkage had been increasing recently.

• In December 2017 the Corrib field came off max

production and has been reducing since. This has resulted in an increase in gas transported via the UK and corresponding increases in fuel gas requirements.

• Gas entering the Irish Gas Network at Inch has been

reducing however the level of compression has remained the same leading to an effective increase in own use gas.

• Meter replacement programmes in both Dx and Tx

have led to much greater accuracy of measurement.

• It should be noted that the current level of UAG is

within the range of metering uncertainty expected under the Code (±1%).

54 Note: The volatility in Dec ‘15/Jan ‘16 was due to under accounting of a city-gate meter in Dec ‘15 which was corrected in Jan ‘16

(100,000,000) (50,000,000) 50,000,000 100,000,000 150,000,000 Jan-2014 Mar-2014 May-2014 Jul-2014 Sep-2014 Nov-2014 Jan-2015 Mar-2015 May-2015 Jul-2015 Sep-2015 Nov-2015 Jan-2016 Mar-2016 May-2016 Jul-2016 Sep-2016 Nov-2016 Jan-2017 Mar-2017 May-2017 Jul-2017 Sep-2017 Nov-2017 Jan-2018 Mar-2018 May-2018 Jul-2018

kWhr

Total Shrinkage and its components

Metered Own Use Gas Total Shrinkage Tx UAG

Shrinkage recovered through “Stock” increased.

• Purchases of shrinkage gas were reduced in 2016

in line with the commissioning of the Corrib field as Own Use Gas fell.

• Daily shrinkage purchases, which determine the

monthly invoices, are based on ex ante estimates

• f daily Shrinkage.
• The ex post monthly calculation of total Shrinkage

shows an increase since Sept 2016. GNI did not increase its purchases of Shrinkage to match this increase.

• The difference between total Shrinkage and the

Monthly Shrinkage invoice is contained in the monthly “Stock” statement.

• The Disbursements account currently contains a

cumulative charge for Gas Year 17/18 to date of c. €5.9m. €3.1m was also charged to Shippers in 2016/17.

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(20,000,000) 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 140,000,000 Jan-2014 Mar-2014 May-2014 Jul-2014 Sep-2014 Nov-2014 Jan-2015 Mar-2015 May-2015 Jul-2015 Sep-2015 Nov-2015 Jan-2016 Mar-2016 May-2016 Jul-2016 Sep-2016 Nov-2016 Jan-2017 Mar-2017 May-2017 Jul-2017 Sep-2017 Nov-2017 Jan-2018 Mar-2018 May-2018 Jul-2018

kWhr

Total Shrinkage vs Shrinkage Purchased

Shrinkage Purchased Total Shrinkage

GNI proposes a credit to Shippers.

• In practice, the undersupply of Shrinkage gas has been alleviated by:

‒ Shipper imbalances (i.e. Shippers leaving the system long); and ‒ balancing actions driven by system pressure requirements.

• Based on the current Stock Reconciliation figures, GNI notionally has/will have c. €8.95m to purchase

additional shrinkage gas to address the under purchase of Shrinkage.

• In the current operating environment, there is no system requirement for additional gas. If GNI were

to purchase any significant amount of gas it would prompt a corresponding balancing sell action.

• Therefore, GNI proposes to credit Shippers with c. €8.95m rather than purchase additional gas. The

credit will be processed as follows:

‒ Credit would be issued via the disbursements account after the annual audit is completed; ‒ Credit to be pro-rata to the Shipper’s throughput for the relevant year; and ‒ Stock invoices (based on monthly Stock statements) to be issued for payment after audit.

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Other initiatives to address Shrinkage issues

• GNI has updated its estimation and is now purchasing increased amounts of shrinkage gas
• n a daily basis in line with what the Network requires.
• GNI is reviewing the Code provisions and may raise a Code Modification to allow it to

correct for any daily under/over purchase of Shrinkage in a more transparent manner.

• GNI is reviewing its stock model tool in order to identify any necessary improvements.

Increased stock model accuracy may help reduce variability in Tx UAG.

• GNI are also assessing the effect of CV shrinkage on the network with respect to UAG.

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Code Modification Forum

• 12. Gas / Electricity Interaction

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• 13. Transparency Data Update

Code Modification Forum

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Transparency Platform: Overview

• 11th May 2018 GNI launched a new Data Transparency Portal.
• The platform’s functionality allows for:
• Data visualisation
• Hourly, daily and Monthly updates and graphical representation of gas-related data:
• Functionality available for users to download historical data
• Hourly inlet and outlet pressures, with mapping to strategic locations on the network

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• Entry/ Exit Flows
• Balancing (Actions & Prices)
• Nominations/Renominations
• Capacities
• System Imbalance Position
• Gas Quality
• VRF
• Shrinkage and Stock Gas
• Activity at the IBP
• Macroenvironment

Transparency Platform Update: Imbalance Prices

• August NBP and IBP Shadow Prices are now available on the Transparency Platform:

https://www.gasnetworks.ie/corporate/gas-regulation/transparency-and-publicat/dashboard-reporting/balancing-actions-and- prices/imbalance-prices/

• Rolling 30 day NBP and IBP Shadow Imbalance Prices will be added to the Transparency Platform, fortnightly: start

and mid month.

• NBP Prices are indicative only and will be subject to subsequent billing invoices
• In the interim, IBP Shadow Prices will use a 3.5% multiplier, applied to Second Tier only

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Transparency Platform: Overview

• 11th May 2018 GNI launched a new Data Transparency Portal.
• The platform’s functionality allows for:
• Data visualisation
• Hourly, daily and Monthly updates and graphical representation of gas-related data:
• Functionality available for users to download historical data
• Hourly inlet and outlet pressures, with mapping to strategic locations on the network

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• Entry/ Exit Flows
• Balancing (Actions & Prices)
• Nominations/Renominations
• Capacities
• System Imbalance Position
• Gas Quality
• VRF
• Shrinkage and Stock Gas
• Activity at the IBP
• Macroenvironment

Transparency Platform: Statistics, August 1st to August 31st

• Sessions/ Visits to the platform: 532
• Number of Users: 152
• Unique Page Views: 2,143
• Average time on visit to Data Transparency Platform: 06:01

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Most viewed pages include:

• 1. Entry flows
• 2. VRF
• 3. Shrinkage and Stock Gas

Code Modification Forum

• 14. Website Feature Update

“For Shippers” Tab on Homepage with relevant links is being developed

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Code Modification Forum

• 15. Trading Platform Update – GNI Participation

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Trading Platform: Overview of activity on EBI platform

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• The EBI platform is trending towards increased levels of activity with up to 777,000 therms/day being traded
• GNI’s participation in the EBI trading platform continues to operate well
• All gas balancing requirements in the month are sourced through the platform and at more competitive prices

than the balancing services contracts

Trading Platform: Overview of activity on EBI platform, August 2018

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2 4 6 8 10 12 100 200 300 400 500 600 700 800 900

K Therms/day

Volume Traded and #Trades

Volume Traded (Left Axis) # of Trades (Right Axis)

Trading Platform Activity – August 2018

Number of trades Total Volume Traded 113 (average of 4 per day)

• 8,264 ktherms (Average of 267 ktherms/day)
• Max 777ktherms 01/08/2018

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Number of trades involving GNI Total Volume Traded 6 (6 Balancing sells) 450 ktherms Platform in General GNI participation

Trading Platform Activity – August 2018

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0.0 20.0 40.0 60.0 80.0

pence\therm

UK NBP SAP Versus IBP SAP

SAB IBP (p/therm) SAP NBP (p/therm)

IBP traded prices continue to track NBP equivalent prices

Code Modification Forum

• 16. AOB

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1.

Upcoming Code Modification Forum Meetings

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CMF Dates 2018 Location

7th March 2018 (Wednesday) Cork 2nd May 2018 (Wednesday) Dublin 13th June 2018 (Wednesday) Cork 8th August 2018 (Wednesday) Dublin 26th September 2018 (Wednesday) Cork 28th November 2018 (Wednesday) Dublin Next Meeting

Thank you for your participation