Concerns regarding the Italian proposal to eliminate the PSV-TTF gas price spread

Read the full joint letter here.

Eurogas and Energy Traders Europe note with concern the Italian draft legislative proposal requiring the national regulator ARERA to adopt measures to eliminate the spread between the Italian PSV hub and the Dutch TTF hub.

The proposal foresees either:

• the introduction of negative entry tariffs at Passo Gries, or
• a “liquidity service”, managed by the TSO, where market participants can compete in order to:
  • offer gas to the Italian hub, entering the network at predetermined entry point(s), at TTF-linked prices.
  • receive a compensation for providing the service.

Eurogas and Energy Traders Europe share the Commission’s objective of further integrating European gas markets. However, such unilateral measures risk undermining EU market integration and raise questions of legal compatibility with EU tariff and market integrity rules.

Read the full joint letter below.