Upcoming auction info
Short-Term Auction 11th March 2025
Gas Storage Bergermeer (GSB) is organising an auction for 3.495 TWh Standard Bundled Units (SBU’s) of capacity for a period of one storage year on 11 March 2025. The auction (fixed price) has a minimum price of 2.20 €/SBU.
As per 1 April 2025, the SSSA 1.5 will be replaced by the SSSA 2.0 . The SSSA 2.0 is an update from the current version of the SSSA (version 1.5) . Having in place the SSSA 2.0 is one of the conditions to qualify for participation in the auction.
Please note TAQA may terminate or change the processes as shown below at its sole discretion at any time.
Short Term Auction Tuesday 11th of March 2025
Date | 11 March 2025 |
Time | 11:00 – 11:30 CET |
SBUs on offer | 3.495 TWh |
Pricing methodology | Fixed Price |
Start Date | 1st April 2025 |
Tenor | 1 Storage Year |
Minimum price | 2.20 €/SBU |
In order to qualify for participation in this auction, customers wishing to participate must at least six business days prior to the day of the auction:
- Accept and agree to the Auction Rules and provide GSB with a duly signed Annex I of the Auction Rules Short-Term Auction March 2025 .
- Provide GSB with a duly executed Power of Attorney ( Annex II of the Auction Rules) with all supporting evidence as requested in Annex II.
- Have entered into an SSSA 2.0 .
- Provide GSB with all KYC information GSB requests for their KYC screening;
- Successfully pass GSB’s customers screening
- If requested – provide 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:
- a firm proposal for the GSB share (%) of the Additional Value and, if applicable, for the Financing costs;
- a pitch (one-page maximum) why your company is well equipped to maximize the Additional Value;
- your agreement with the terms and conditions of the OA25; and
- 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.