FGSZ Ltd is committed to conducting its activity in compliance with the effective legislation of the European Union and the Hungarian laws.
The Company operates in strictly regulated market conditions, in a so-called ITO model, i.e. it operates as an independent transmission system operator.
We are proud to be among the forerunners to create appropriate conditions for the introduction of the ITO model – complying with Directive (EC) 2009/73 concerning common rules for the internal market in natural gas, facilitating the liberalisation of the gas market –, as a result of which FGSZ Ltd became one of the first independent transmission system operators holding an ITO certificate.
Resolutions relating to the certification of the transmission system operator:
MEH Resolution No. 34/2012: Certification of the transmission system operator (Final Resolution – only in Hungarian)
MEH Resolution No. 749/2011: Certification of the transmission system operator (First Resolution – only in Hungarian)
In compliance with the legal provisions, the company holds a transmission system operation license. The Hungarian Energy Office (“Magyar Energia Hivatal” or “MEH”, the legal predecessor of the Hungarian Energy and Public Utility Regulatory Authority) issued the license via its resolution no. 630/2012 dated 28 June 2012 based on Section 114(1)(b) of Act XL of 2008 on Natural Gas Supply (“GET”).
The transmission system operator license and its amendments:
MEH Resolution No. 630/2012 and its annexes (only in Hungarian)
1st amendment – Resolution No. 656/2012 of the Hungarian Energy Office (only in Hungarian)
Compliance programme and reports
In accordance with the statutory provisions (Section 121/G(1) of Act XL of 2008 on Natural Gas Supply), FGSZ Ltd is obliged to prepare a Compliance Programme in every four years and implement it upon its approval by the Hungarian Energy and Public Utility Regulatory Authority.
The Compliance Programme contains the measures and conditions that ensure non-discriminative, independent operation in accordance with Directive (EC) 2009/73 concerning common rules for the internal market in natural gas facilitating the liberalisation of the gas market.
At the transmission system operator, implementation of the compliance programme is monitored by an independent compliance auditor appointed by the Supervisory Board (without prejudice to the powers of the Authority).
FGSZ Ltd’s compliance programmes and reports and the MEKH resolutions approving them: