Energy trading is based on trust and integrity which are amongst the most important values that a market place may possess. Central European Gas Hub AG (CEGH) is committed to promote these values on its markets and business areas and to support compliance with applicable rules and regulations. To this end CEGH has enacted a binding Code of Conduct that is followed and adhered to.
Management and staff of CEGH have to sign up and to observe a set of internal regulations including a Compliance Code. These regulations ensure equal treatment of our members and that strict confidentiality regarding all trading activity is obtained. CEGH follows a strict zero tolerance policy towards any conduct by its members, customers, employees or third parties that is not in line with its values and regulations.
According to the legal requirements of the Austrian Gas Act 2011, CEGH has appointed a dedicated Compliance Officer that is responsible towards Energie-Control Austria and reports directly to the Executive Board. The Compliance Officer is responsible for monitoring abidance with rules and regulations and the further development of compliance matters. Management and staff of CEGH are trained and advised on a regular basis by the Compliance Officer.
VAT & customs regulations for trading and supply of gas at the Austrian Virtual Trading Point (VTP)
The supply of natural gas through an Austrian natural gas transmission or distribution system or any network connected to such a system is (Gas Supply) is subject to the rules of the European Union on the common system of value added tax (VAT).
Gas Supplies which are taxable in Austria are subject to a reverse charge system if (a) the supplier has neither his place of business in Austria nor an Austrian permanent establishment involved in the Gas supply and (b) the purchaser is registered in Austria for VAT purposes.
Natural gas traded on the Austrian Virtual Trading Point (VTP) is subject to the customs legislation of the European Union.
The handling of customs declarations, documents of origin and duties is each party’s own responsibility. Central European Gas Hub AG (CEGH) shall not be subject to any obligations or liabilities in this respect.
For detailed information regarding VAT and customs regulations please click here.
Data Protection Statement
Please find here our CEGH data protection statement