Balansys is a joint undertaking founded by Creos Luxembourg (50%) and Fluxys Belgium (50%). The mission of Balansys is to act as balancing operator for the balancing in the BeLux area, being composed by the integrated H-gas market of Luxembourg and Belgium and the L-gas market in Belgium. Balansys is a company limited by shares (“société anonyme”) under the laws of the Grand-Duchy of Luxembourg.
Tasks and responsibilities of Balansys
Balansys shall perform the following activities:
- Performance of the market-based balancing of the BeLux area, i.e. (a) aggregating the balancing positions of the shippers on the respective grids of Creos Luxembourg and Fluxys Belgium and on the ZTP and communicating such balancing positions to the shippers and the aggregated balancing position of the overall market, (b) purchasing and selling gas for balancing purposes, and (c) invoicing balancing charges to the shippers;
- Performance of certain regulatory tasks consisting of drafting, designing and submitting the Balancing Agreement, Balancing Code, Balancing Programme and Balancing Tariff to ILR and CREG, within their scope of competence, and concluding the Balancing Agreement with each shipper.