Update of Technical Rules no. 07 and no. 18 MGAS and of the IG Index GME methodology

GME informs market participants that, on 1 October 2025, the new version of Technical Rule no. 07 MGAS – Types of Contracts, Duration of the Trading Period and Cascading Mechanism will enter into force. This Technical Rule has been amended to update the reference timetable for trading spot products in the natural-gas market (hereafter: MGAS) and the related naming conventions.

With the changes introduced, in particular, the working and non-working days included in the products will always be harmonised with those of the products traded on the main European trading platforms, eliminating the differences that currently exist during some holiday periods (e.g., Easter, Christmas), thereby enabling market participants to optimise their trading and hedging strategies.

GME will thus adopt a reference timetable based on the British timetable, which will be published on GME’s website and in the MGAS platform (hereafter: MGAS reference timetable) and is also provided below for informational purposes only. At the same time, a new spot product will be introduced into the MGAS, the “Working Days Next Week”, which will complement the Week-End product. In particular, the updated version of Technical Rule no. 07 MGAS, published below for informational purposes only, will involve the following changes within the MGP-GAS:

1. redefinition of the week-end contract (hereafter: WE), which normally includes the gas-days corresponding to Saturday and Sunday, but may also include the gas-days preceding and/or following Saturday and Sunday, if such days are regarded as holidays according to the MGAS reference timetable (e.g.: the Easter WE will consist of 4 gas-days, from Good Friday to Easter Monday;
2. redefinition of daily contracts, which normally include the gas-days G+1, G+2, and G+3. However, if the market session takes place on a gas-day G, which is a working day according to the MGAS reference timetable and is followed by at least three holidays, the daily contracts tradable in the MGAS will be those referring to periods until the first working gas-day following the last holiday, G+4 or beyond (e.g., on Thursday before Easter, the G+5 product, corresponding to Tuesday after Easter, will be available);
3. introduction of the “Working Days Next Week” contract (hereafter: WK/DY NW), with a delivery period equal to the individual consecutive gas-days, consisting of the set of the working days, according to the MGAS reference timetable, from Monday to Friday of the week following the one in which the contract is traded. If Saturday or Sunday are preceded and/or followed by holidays, according to the MGAS reference timetable, such days will not be included in the WK/DY NW product.

In this regard, it is worth pointing out that the above products will also be available on Trayport with the naming conventions (DA, WE, WK/DY NW, Monday, Tuesday, etc.) adopted on the main European exchanges, as indicated in the MGAS reference timetable.

Moreover, beginning on 1 October 2025, consistently with the changes made to Technical Rule no. 07 MGAS, the following documents will be published on GME’s website and enter into force:

1. the new version of the document containing the Calculation method of the Italian Gas Index IGI, which has been amended to align the listing of the IGI with the new naming conventions for the products tradable in the MGAS;
2. the updated version of Technical Rule no. 18 MGAS - Market Making Activity; this version now provides that the Market Making activity will take place on the days and in the time window during which the IGI will be listed, i.e. on the working days defined in the MGAS reference timetable. These documents are provided below for informational purposes only. In this regard, it is worth noting that, if a Market-Making participant does not want to accept the changes and additions made to Technical Rule no. 18 MGAS and its Annexes, he/she/it may terminate the “Participation Agreement for carrying out the Market Making Activity referred to in Article 27 of the Natural-Gas Market Rules” under article 2, subpara. a) thereof, by sending an appropriate notice under the established procedure and to the address indicated therein.

For further details, please refer, for informational purposes only, to the new versions of:

1. Technical Rule no. 07 MGAS
2. Technical Rule no. 18 MGAS
3. Document containing the Calculation method of the Italian Gas Index IGI
4. MGAS reference timetable.

GME and GSE announce that an informational seminar (in webinar format) will be held on Wednesday, 16 July 2025, at 15:00.

The webinar will be focused on the consultation documents regarding:

1. the design of GME’s platform for trading PPA contracts (PPA Market - MPPA);
2. the Operating Rules and GSE’s role as a last-resort guarantor.

Participation Requirements

The webinar will take place on the Microsoft Teams Platform. Participation in the webinar requires registration, to be completed by 12:00 (noon) on Tuesday, 15 July 2025, via the appropriate online form. The technical details for access to the webinar will be provided to registered participants.

Agenda:

Webinar with Market Participants

16 July 2025 at 15:00

AGENDA

In its Consultation Document no. 1/2025, GME presents a proposed model of operation of the market for trading PPA contracts (MPPA), aiming to gather comments and insights from interested parties.

The proposal has been formulated on the basis of the guidelines given by the Minister of Environment and Energy Security (MASE), jointly with the Minister of Economy and Finance (Ministerial Decree n° 152 of June 20^th 2025 , adopted in compliance with article 28, paragraphs 2 and 2 bis of Legislative Decree 199/2021).

All interested parties are invited to submit their comments in writing to GME’s Governance Department, info@mercatoelettrico.org, by July 18^th 2025 (end date of this consultation).

Parties wishing to keep all or part of their documents confidential are invited to specify which parts of their documents are to be kept confidential. Consultation Document no. 1/2025

Please note that that, as of 30 September 2025, the FTP channel, currently used to access the data available in the “Results” section of Gestore dei Mercati Energetici S.p.A.’s website, will be decommissioned.

From that date onwards, the above-mentioned data will be exclusively available via the FTPS (File Transfer Protocol Secure) channel, already active at FTPS://download.ipex.it.

All users of the FTP channel are kindly invited to update their configurations and migrate to the FTPS protocol (using the same credentials currently associated with the FTP) as soon as possible to ensure uninterrupted access to the service.

Additional details will be provided via an appropriate communication sent by e-mail to already registered users.

For further clarifications or assistance, please contact GME’s ICT support service at Sistemi@mercatoelettrico.org

Following the notice date 19 January 2018, it is hereby announced that the "time window" relating to the collection of data on the monthly storage and transit capacity of mineral oils referred to the third quarter of 2025, is scheduled between 1st and 22nd August 2025 from Monday to Friday, from 09:30 am to 5:30 pm.Specifically, in the aforementioned period, the persons subject to the notification obligation referred to in Article 2, paragraph 2.1, of the Ministerial Decree of 5 July 2017, no. 17433, are required to send to GME - through the Mineral-oil storage and transit capacity data reporting platform (PDC-oil) – the data on the monthly storage and transit capacity of mineral oils referred to the period September-December 2025.Please note that, as provided for by the Ministry of Economic Development with Circular Letter no. 0014614 dated 05 June 2018, the notification of data relating to LPG depots for automotive purposes is excluded from the monthly data collection of the monthly storage and transit capacity of mineral oils.

The parties subject to the notification obligation which are not yet registered on the PDC-oil must access the platform and carry out the registration procedure described in the “PDC-oil participant’s guide”.For further information, please contact the following e-mail address logistica@mercatoelettrico.org or contact the telephone numbers 06 8012 4337/4500.Circular Letter no. 1612 of 19 January 2018Annex A Monthly Collection of Available Storage CapacityAnnex B Monthly Collection of Available Transit Capacity

GME announces that the Italian version of its Annual Report 2024 is now online (Relazione Annuale 2024). The report provides a comprehensive overview of the evolution observed in European and national energy markets during the year.

Following some reports received by telephone and email to Gestore dei Mercati Energetici S.p.A. ("GME"), it seems that these telephone calls are made by a supposed "GME Office" and/or so-called GME operators, regarding proposals to change the electricity and/or gas supplier due to increases in cost of energy, not properly specified, or problems in the current supply, which were followed, in some cases, by emails with similar content.

It should be remembered that GME is completely unrelated to the event mentioned above. We would like to clearly state that we do not provide, in any way, commercial services such as those described above. Furthermore, we do not use communication methods with our clients such as those outlined above.

When in doubt, we always suggest to make sure of the above by contacting your current electricity and/or gas supplier according to the contact methods made available by the same. In any case, we suggest to avoid any possible follow up about proposals such as those highlighted above, in order not to face any unpleasant inconveniences.