Upcoming auction info

Long Term Auction on the 10^th of October 2023

Gas Storage Bergermeer (GSB) has a total of 5.0 TWh Standard Bundled Units (SBU’s) capacity available for period of 5 -10 years whereby the first year starts in Storage Year 2024. The bidder can bid up to 10 years with a minimum period of 5 years. The auction will be on a fixed priced basis and has minimum price of 3 €/SBU. GSB has created a ranking mechanism whereby the bid for the longer tenor are favored.

For the long term auction there is an important precondition that both our existing SSSA and the updated Standard Storage Services Agreement 2.0 are signed. The SSSA 2.0 is an update from the current version and will be applicable from the 1st of April 2025.

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

For any additional information, contact gsb@taqaglobal.com. 

Long Term Auction

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

1. Signed Auction Rules for long-term Auction (Annex I in Auction Rules)
2. Signed SSSA 1.5
3. New SSSA 2.0 (Annex II in Auction Rules)
4. Provide a duly executed Power of Attorney ( Annex III in Auction Rules)

This includes evidence that the person signing this document is authorised to represent the company; like a Chamber of Commerce extract or comparable, such document being not older than three months at the time of the auction).

5. Completed KYC GSB form: to be filled in once and upon changes by customers. This is required for all new customers. 
6. If requested – provide most recent financial figures in order to establish a bidder limit.
   

December Auction
In December 2023 we are planning to offer a fixed and indexed product. Details of the auction will be published after the Long Term Auction on the 10^th of October 2023.

Optimization Agreement 
In February 2024 we will allocation the new volumes under the Optimization Agreement SY23 (OA) 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 the current OA customers that generated most value for GSB during SY23. The second step is to award a new customer for SY24.

Any SSSA customer interested to participate in the tender for this is invited to reply on the below four points before (deadline to be announced):

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 GSB Optimization Agreement 
4. Only if requested by TAQA: provide additional information for a credit check.

Based on the responses on 1-4 and at TAQA’s sole discretion, an OA will be allocated to the three to four customers with the most attractive proposition, at TAQA’s sole discretion.