Information on the marketing of storage capacity for storage year 2018 and further will follow. Please see ‘Operational information’ for the specific volumes available for next storage years.
Profit Sharing Agreement 2017
TAQA has sold the remaining 5 TWh for the 2017-18 storage year via a tender on a Profit Sharing Agreement (PSA) basis to several customers. The nature of the PSA means that it can capture the upside of increasing DA-winter spreads during the summer and share any additional profits between the storage owner and capacity contractors.
TAQA has sold the remaining 2 TWh for the 2016-17 storage year on 23 June 2016.
TAQA sold the available capacity with a cut-off fixed price of 2.50 €/SBU and a weighted average fixed price of 2.51 €/SBU. There was no reserve price applicable.
Overall demand was more than seven times the capacity on offer. All capacity for the 2016-17 storage year has now been sold.
TAQA had previously sold 39 TWh of capacity for the 2016-17 storage year. In September 2015 we auctioned and sold 5 TWh as short-term capacity for Storage Years 2016-2018.
TAQA sold the available capacity with a cut-off multiplier of 1.22 and a weighted average multiplier of 1.29. Participants could submit up to five bids, for one, two or three years starting from April 2016. The total volume of 5 TWh has been allocated to the three year product.
Overall demand was more than five times the capacity on offer.
In the open seasons held prior to 2014, 13TWh has been sold as long-term capacity. In September 2014 we auctioned and sold 13TWh as short-term capacity for Storage Years 2015-2017.
The auction results were as follows
|Tenor||Offered||Sold||Cut off multiplier|
|3 years||3 TWh||3 TWh||1,15|
|2 years||3 TWh||3 TWh||1,16|
|1 year||7 TWh||7 TWh||1,17|
Overall demand was more than double the capacity on offer. The weighted average multiplier of the capacity sold is around 1,2.
Should you have any questions or comments, or if you wish to be kept informed regarding Gas Storage Bergermeer please contact us.