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TAQA cancels GSB auction 02 March 2017

TAQA has decided to cancel the fixed price auction for two TWh which was planned to take place on Thursday 2 March. The large interest shown by market parties in the new Profit Sharing Agreement (PSA), in combination with the current market spreads, are the principle reasons to market the available two TWh under the PSA. 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.