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Upcoming auction info

Gas Storage Bergermeer (GSB) has a total of 15.5 TWh Standard Bundled Units (SBU’s) capacity available for Storage Year 2021. TAQA will auction 9 TWh on fixed priced basis. The additional 6.5 TWh will be allocated to the Optimization Agreement (OA) via a tender.

Please note TAQA may terminate or change the processes as described below at its sole discretion at any time.

For more information on the product, fees, etc. please check our website (www.gasstoragebergermeer.com) and/or myGSB.

For any additional information, feel free to contact Patricia Platen (patricia.platen@taqaglobal.com) or Mark Bouwman (mark.bouwman@taqaglobal.com).

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Auctions

A precondition for joining the auction is the signing of our SSSA (LINK SSSA).

Auction Short Term 1

Date

15 December 2020

Time

1100 – 1130 CET

SBUs on offer

2 TWh

Pricing methodology

Fixed Price

Duration

One storage year, start SY21

Minimum price

1.50 €/MWh

Auction Long Term

Date

11 February 2021

Time

1100 – 1130 CET

SBUs on offer

Upto 7 TWh

Pricing methodology

Fixed Price

Duration

Start SY2021: 4 upto 10 years

Minimum price

3.00 €/MWh

Auction Short Term 2

Date

18 February 2021

Time

1100 – 1130 CET

SBUs on offer

0 – 7 TWh

Pricing methodology

Fixed Price

Duration

Start SY21: One, two or three storage year(s)

Minimum price

1.50 €/MWh

In order to participate for this auction, customers must have the following in place at least six business days prior to the auction:

Auctions Short Term:

  1. Signed Auction Rules Short Term 2021 (LINK Rules Short Term)
  2. Provide a Power of Attorney: see Annex II in Auction Rules. This includes evidence that the person signing this document is authorized to represent the company; like an excerpt Chamber of Commerce or comparable, max 3 months old).

Auction Long Term:

  1. Signed Auction Rules Long Term 2021 (LINK Rules Long Term)
  2. Provide a Power of Attorney (see Annex II in Auction Rules. This includes evidence that the person signing this document is authorized to represent the company; like an excerpt Chamber of Commerce or comparable, max 3 months old)

For both Auctions:

  1. If requested – provide most recent financial figures in order to establish a bidder limit.
  2. Filled in KYC form: to be filled in once and upon changes by customers, required for all new customers (LINK KYC form)

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Optimization Agreement (OA)

A precondition for joining the tender is the signing of our SSSA (LINK SSSA).

The allocation of 6.5 TWh under the Optimization Agreement 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 the current OA customers that generated most value for GSB during SY20 with 5 TWh in total for SY21. The second step is to award a new customer the remaining 1.5 TWh for SY21.

Any SSSA customer interested to participate in the tender for this 1.5 TWh is invited to reply on the below four points before the 4th of February 2021, 17.00h CET:

  1. 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 GSB Optimization Agreement (LINK OA)
  4. Only if requested; provide TAQA with additional information for a credit check

Based on the responses on 1-4, the remaining 1.5 TWh will be allocated to the customer with the most attractive proposition, at TAQA’s sole discretion.

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