Library / Gas Trading and Settlement Regulations 2023
Gas Trading and Settlement Regulations 2023

Page 14 of 31
B  156
(c)  discharge the responsibility of activities mentioned in these
Regulations in respect of all contracts transacted at the exchange ; and
(d)  build a disaster recovery site and alternate trading facility in case of
emergency, within three months from the date of the issuance of licence.
27.—(1)  The scheduling and delivery of contracts on the gas exchange
shall be in accordance with the Network Code, pipeline and virtual pipeline
system rules.
(2)  Subject to the provisions of these Regulations, operationalisation of
scheduling of transactions through the gas exchange shall be in accordance
with the detailed procedure issued by the Authority under the Network Code
or virtual pipeline system rules.
(3) The detailed procedure in subregulation (2) may cover —
(a) submission and processing of the application for scheduling of
transactions for different contracts ;
(b)  scheduling of intra-day, day-ahead and term-ahead transactions ;
(c)  procedure for real-time curtailments ;
(d)  coordination with pipeline and virtual pipeline system operators for
availability of capacity and estimating flows for the traded contracts ;
(e)  transportation tariff, various other charges, fees and other commercial
conditions ;
(f )  payments and defaults in payments ; and
(g)  any other issue pertaining to operationalisation of scheduling of
multiple transactions through the gas exchange.
(4) The charges or penalties for defaults such as imbalances, overruns
and other similar defaults shall be in accordance with the Network Code or
other rules issued by the Authority.
(5)  All data transfer between pipelines and virtual pipeline system
operators and the gas exchange shall be done electronically through a secure
communication channel.
(6) The gas exchange, shippers, pipelines and virtual pipeline system
operators, transporters, sellers, and buyers would have rights and obligations
as defined in theNetwork Code, rules and bye-laws of the gas exchange.
28.  The Authority may call for information on redressal of any specific
complaints and grievances by the gas exchange.
Delivery
procedure
Grievance
redressalof
members
and clients