The Utility Regulator today publishes its decision to approve the Northern Ireland Gas Transmission Network Code. This single network code will replace the four separate codes which currently exist. The new code will have effect from 1 October 2017. The existing commercial regime will remain largely unchanged by the new network code. However it will result in a significant reduction in the level of complexity faced by market participants. This will reduce costs and lead to a more dynamic gas market in Northern Ireland.
The single network code is one part of a larger project to deliver Single System Operation from 1 October 2017. In our GT17 price control final determination we estimated that Single System Operation would lead to a net reduction in consumer costs over the five year price control period of £1m. On 9 June 2017 we published our decision to modify transmission conveyance licences to facilitate Single System Operation.