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Upcoming auction info

Gas Storage Bergermeer (GSB) has a total of 19.75 TWh Standard Bundled Units (SBU’s) capacity available for Storage Year 2023. TAQA will auction 8 TWh on a fixed priced basis, 5.25 TWh on indexed basis, of which a maximum of 3 TWh will be for a tenor of 2 Storage Years. 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. 

A precondition for joining the auction is the signing of our Standard Storage Services Agreement (SSSA).

For any additional information, contact gsb@taqaglobal.com


Auction dates in 2023

Auction 1

   

Date

13 December 2022

 

Time

11:00 – 11:30 CET

 

SBUs on offer

5.25 TWh

 

Pricing methodology

Indexed Price

 

Duration

5.25 TWh SY23, Maximum of 3 TWh SY23 + SY24

 

Minimum multiplier

1.0 (in combination with a minimum SW spread of 2.20 €/MWh)

 

Auction 2

 

Date

13 December 2022

Time

13:00 – 13:30 CET

SBUs on offer

4 TWh

Pricing methodology

Fixed Price

Duration

SY 2023

Minimum price

2.20 €/MWh

       

Auction 3

 

Date

14 February 2023

Time

11:00 – 11:30 CET

SBUs on offer

4 TWh

Pricing methodology

Fixed Price

Duration

SY 2023

Minimum price

2.20 €/MWh

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 SY23 
  2. Provide a Power of Attorney: see Annex II in Auction Rules. This includes evidence that the person signing this document is authorised to represent the company; like an excerpt Chamber of Commerce or comparable, max. three months old).
  3. If requested – provide most recent financial figures in order to establish a bidder limit.
  4. Filled in KYC GSB form: to be filled in once and upon changes by customers, required for all new customers. 


Optimization Agreement 
A precondition for joining the auction is the signing of our Standard Storage Services Agreement (SSSA).

The allocation of 6.5 TWh under the Optimization Agreement (OA) 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 SY22 with 5 TWh in total for SY23. The second step is to award a new customer the remaining 1.5 TWh for SY23.

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 3th of February 2023, 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 
  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.