EnergyStock intends to extend its storage volume in October 2014. This would mean that per 1 October 2014 EnergyStock is able to offer additional storage volume. EnergyStock intends to offer the additional storage volume to the market via an auction process. This auction has been scheduled for Friday 29 August 2014. Registration will close on Monday 25 August 2014 at 14:00h LET.
The auction consist of two different services (Lots):
- “Working Gas Volume only” service, flange delivery
This service (Lot) consists of a total of 120,000 MWh WGV divided in four Tranches. The volume will be build up over time. By the start of the 1st week (Gas Day Wednesday 1 October) from Start Date there will be 30,000 MWh available, by the start of the 2nd week (Wednesday 8 October) 30,000 MWh will be added, by the start of the 3rd week (Wednesday 15 October) another 30,000 MWh will be added and in the 4th week (Wednesday 22 October) the final 30,000 MWh will be added. As of that date to the End Date 120,000 MWh will be available. The Start Date is 1 October 2014 06:00h LET; the End Date is 1 April 2015 05:59h LET.
EnergyStock maintains a reserved price for this service. The reserved price for this service in this auction will be € 3,00 per MWh WGV.
- “Working Gas Volume combined with Injection Capacity and Withdrawal Capacity” service, TTF delivery
This service (Lot) consists of a total of 120,000 MWh WGV, 167 MWh/h SI for 30 successive Gas Days as of Start Date and 120 MWh/h SO as from 1 January 2015 06:00h LET until End Date. The Start Date is 1 October 2014 06:00h LET; the End Date is 1 April 2015 05:59h LET. During withdrawal, per gas day the maximum withdrawal duration is 24 hours at maximum withdrawal capacity. EnergyStock has the right to interrupt SO during the SO period for 2 days in total, which will be announced at the latest at 16:00h LET at D-1. The service is offered including cost for injection and withdrawal.
EnergyStock maintains a reserved price for this service. The reserved price for this service in this auction will be € 4,00 per MWh WGV.
Final allocation of services as a result of the auction, is subject to an investment decision to be taken by EnergyStock. This investment decision is subject to the total revenue of the auction. EnergyStock maintains a reserved total revenue for this auction. EnergyStock is not obliged to allocate lots below the reserved total revenue.
More information on this auction can be found in EnergyStock Auction Procedure – Indian Summer 2014 which describes the auction-procedure that will be applied by EnergyStock, the process on how to join the auction as well as the processing of bids.
In order to have the auction process completed in time, parties that are not currently registered as a EnergyStock customer are requested to go trough the registration process to become a customer. This process should be completed at the latest on Monday 25 August 2014 at 14:00h LET. More details on this registration process are described in the above mentioned auction-procedure.
The investment decision and therefore the auction is subject to a final board approval on 25 August 2014. If a rejection is given EnergyStock withholds the right to cancel the auction. The outcome will be announced to the participants on 26 August 2014.