GME informs market participants that the Ministry of Environment and Energy Security (MASE) has issued Decree no. 450 of 20/12/2024 (published on the website of MASE) approving the following amendments to the Integrated Text of the Electricity Market Rules (ME Rules), the Integrated Text of the Natural-Gas Market Rules (MGAS Rules), and the Regulations of the Platform for the Trading of Bids/Offers of Natural Gas (P-GAS Regulations):
- urgent amendments to the MGAS Rules, adopted in accordance with Art. 3.6 of the same Rules, entered into force on 30 January 2024, and concerning the elimination of “bids/offers without a price limit”;
- urgent amendments to the ME Rules, MGAS Rules, and P-GAS Regulations, adopted in accordance with Arts. 3.5 and 3.6 of the same Rules, entered into force on 1 October 2024 and aimed at complying with Regulation (EU) 2024/1106 as regards improving the Union’s protection against market manipulation on the wholesale energy market;
- amendments to the ME Rules, adopted in accordance with Arts. 3.4 and 3.5 of the same Rules, in order to incorporate - with effect from 1 January 2025, day of flow of the Electricity Market - the provisions introduced by ARERA with its Resolution 345/2023/R/EEL, as subsequently amended and supplemented, concerning the new Integrated Text of the Electricity Dispatching Rules (TIDE), and the further provisions laid down in Decree no.151/2004 of MASE regarding: i) the valuing of demand bids in the Day-Ahead Market (MGP) at zonal prices; ii) the calculation of the reference price of electricity traded in the MGP; and iii) the introduction of the compensatory component as a result of the replacement of national single price (“prezzo unico nazionale”).
With a view to facilitating the implementation of the new provisions by market participants as of the day of flow 1 January 2025 (i.e. go-live of TIDE and replacement of the national single price), and following up on its communication of 1 August 2024, GME reminds market participants that the updated version of the ME Rules, as approved pursuant to the above-mentioned decree, is available, for informational purposes only, in the “TIDE” section of its website .
However, until the date of effect of the new provisions indicated above, transactions in the Electricity Market will continue to be governed by the current provisions published in the appropriate sections of GME’s website.