Upcoming auction info

Weekly auctions between 15 May 2025 – 5 June 2025

GSB is planning up to four (4) auctions which are scheduled on a weekly basis during the period from 15 May 2025 up and to including 5 June 2025.

The maximum supply of 3.175 TWh will be made fully available at the first auction. Any unsold volume will be available for the subsequent auction and so on until no volume is left. The volume on offer cannot be lower than zero (0). Once there is no volume left, any subsequent auction(s) will be cancelled.  All the auctions do have a minimum price of 2.20 €/SBU and having in place an SSSA 2.0 is one of the pre-conditions to qualify in participating in the auctions or any of them.

Please note that TAQA may cancel the auctions or change the process at its sole discretion at any time.

Qualified bidders will be informed at the latest one (1) business day prior to the relevant auction date how bids can be submitted.

Weekly auctions between 15 May 2025 – 5 June 2025:

*The date on which the capacity bought at an auction will be available to the bidder (the “Start Date”)  depends on bidder’s IT set up with GSB. If the bidder already has capacity with GSB for storage year 2025 or is already set up as an interruptible-only customer for storage year 2025, the allocated capacity will be available as indicated above. In all other cases, the allocated capacity will be available as soon as reasonably possible, which is expected to be no later than 20 business days.

In order to qualify for participation in an auction, customers wishing to participate must at least four(4) business days prior to the day of the relevant auction:

1. accept and agree to the GSB Storage Auction Rules (the “Auction Rules”) and provide GSB with a duly signed Annex I of the Auction Rules;
2. provide GSB with a duly executed power of attorney (Annex II of the Auction Rules) with all supporting evidence as requested in Annex II;
3. have entered into an SSSA 2.0;
4. provide GSB with all KYC information GSB requests for their KYC screening;
5. successfully pass GSB’s customers screening; and
6. if requested – provide its most recent financial figures in order to establish a bidder limit.

Optimization Agreement 

No later than 26 February 2025, TAQA Gas Storage B.V. (GSB) will allocate the new volumes under the Optimization Agreement SY25  (OA25).  This is a two-legged process, resulting each year in three to four customers that are selected to optimize the capacity on GSB’s behalf.

The first step is to award volume for SY25 to the current Optimization Agreement SY24 customers that generated most value for GSB during SY24. The second step is to award volume for SY25 to one or more other customers by way of tender. Bids under the tender can be made for 1 TWh.

The total available volume for SY25 is 7 TWh. In case not all available volume is allocated under this two-legged process, GSB, in its sole discretion, may allocate (part of) that volume to any of the selected customers.

Any SSSA 2.0 customer interested to participate in the tender is invited to reply on the following four points in writing:

1. a firm proposal for the GSB share (%) of the Additional Value and, if applicable, for the Financing costs;
2. a pitch (one-page maximum) why your company is well equipped to maximize the Additional Value;
3. your agreement with the terms and conditions of the OA25; and
4. only if requested by GSB: provide additional information for a credit check.

The reply should be sent to GSB by e-mail to: gsb@taqaglobal.com, ultimately on 19 February 2025, 5 PM CET.

Based on the responses on 1- 4 and subject to receipt by GSB of:

• a valid power of attorney by the customer, substantially in the form of Schedule C to the OA25, demonstrating the attorney’s authority to submit a firm proposal and to enter into the OA25 on behalf of the customer (if any volume will be allocated);
• evidence that the person signing the power of attorney is authorized to represent the customer; and
• copies of valid ID’s of both the person signing the power of attorney and the attorney,

a volume under the OA25 will be allocated to the customers with the most attractive proposition, each time at GSB’s sole discretion. Subsequently, an OA25 will be entered into between GSB and each of the three to four selected customers.

In case a customer has breached or breaches any of its obligations under the applicable SSSA or under any Primary Capacity Agreement, or does not pass GSB’s KYC screening, GSB is entitled to disqualify that customer (in each case at its sole discretion) from participation and/or allocation.