Since 2012, the National Natural Gas Transmission Network (RNTGN) has a Virtual Interconnection Point (or VIP) on the border with the interconnected network. This virtual point, created within the scope of the Southern Gas Regional Initiative in collaboration with the Spanish Transmission Network Operator and the Portuguese and Spanish Regulators, anticipated a Capacity Allocation Network Code resolution for the interconnection points, and is expected to be fully operational by November 2015.
The VIP integrates the two relevant physical points on the Portuguese-Spanish border, specifically the points at Campo Maior-Badajoz and Valença do Minho-Tuy and serves the commercial purpose of supply, allocation and nomination of natural gas capacities through the respective players, the Transmission Network Operator in its Overall Technical Management role (or GTG) and Market Agents.
Currently offered at this point are all capacity products which exist on each side of the border. This includes harmonized products (having the same values on both sides of the border) for annual, quarterly, monthly, daily and intraday capacity products.
The products offered at the VIP are allocated to the same Market Agent on both sides of the border in a market based process, and the Market Agent in question is required to be registered in both countries and have a single Energy Identification Code (or EIC). In order to be able to use the capacity, the Market Agent, to whom the respective capacity product has been allocated, is required to sign a transmission contract with each of the operators of the interconnected network.