On September 27, 2022, Trading Hub Europe GmbH (THE) invited tenders for the provision of balancing services for the balancing gas product Long Term Options (LTO) in the Rest of the day (RoD) product variant. The key data of the call for tenders can be found under this link. Offers could be submitted until October 18th, 2022.
After evaluating off the bids submitted, THE decided not to award any offers in the tender for the period from January up to and including March 2023.
The bids submitted are in the extraordinary high euro range compared to previous tenders. The current offers (capacity charge) were cumulative in the three-digit million range.
The results of the tender and the further procedure are currently being evaluated together with the transmission system operators and the authorities. As an option, a new tender is being considered. Further information will be published in a good matter of time.
You can find more information about the product here.