BERLIN, Sept 7 (Reuters) - Germany's nationwide gas market trading hub, Trading Hub Europe (THE), published the contract terms for its new Load Reduction (LRD) product that focuses on the activation of switch-off potentials of industrial consumers for the use of balancing gas.
"With the new product LRD, industrial consumers can make their switch-off potential available to the balancing gas market," said the operator in a statement on Wednesday.
It explained that if there is a need for balancing gas, the offer is submitted via the balancing group manager, and the provider can specify the lot size and lead time when submitting the offer, and also has a choice between two price models.
The submission of offers for the product is expected to be possible from mid-September, and offers will be retrieved from Oct. 1 at the earliest, according to THE. (Writing by Miranda Murray, editing by Rachel More)