Until the company website of the KIB AG
launches, all relevant information will be published on this page
The Keep in Balance AG
The Keep in Balance AG (KIB AG) is a wholly owned subsidiary of Trading Hub Europe GmbH (THE) with its headquarter in Wien, Austria. The target date for the start of the Balancing Entity is presumably 1 October 2022.
Jörg Ehmke, Managing Director of THE, and Markus Sammut, Head of the Market Development & Analysis at THE, have been appointed as Managing Directors of KIB AG. Both will fully rotate to KIB AG as the company starts. Further employees will be hired. THE will be acting as service provider for a few operative tasks in order to create synergies relating to human resources and IT systems.
Starting point for the founding of the KIB AG has been the tendering procedure for the appointment of the Balancing Entity which was launched by E-Control in February 2020.
THE KIB AG is appointed for a duration of five years.
Which tasks will be performed:
In the course of the gas market model regulation (GMMO-VO 2020) a new market model in Austria will be implemented on October 1, 2022. The KIB AG depending on legal certainity ) shall ensure the harmonisation of the balancing rules in transmission and distribution networks within an integrated daily balancing framework. The tasks of the KIB AG include the accounting tasks of the clearing and settlement agents (CSAs) as well as the integrated daily balancing in the market areas of “East”, “Tyrol” and “Vorarlberg”. It will also be responsible for the operation of the platform for gas supplier change.
Further information will shortly be available.