Berlin/Ratingen, 24 May 2022 • The first tender to ensure the security of supply in the Trading Hub Europe market area for the product "Strategic Storage-Based Options" (SSBO) level 1 has been completed. The total costs (regarding the components service fee and capacity charge) of the awarded lots amount to approx. 370 million EUR.
The background to the tender is the amended Energy Industry Act, which provides fill level specifications for gas storage facilities. Trading Hub Europe GmbH (THE) has received a catalog of measures by law to contribute to security of supply. In stage 1, the storage tanks are filled primarily by market participants, flanked by tenders from stage 1 SSBOs as an additional incentive for storage tank filling. In stage 2, THE can carry out further tenders. In stage 3, THE can purchase and store gas itself.
Bids for the first tender could be submitted to THE in the period from May 9, 2022 to May 23, 2022. Despite the short lead time, a double-digit number of bidders took part in the tender. The tendered requirement in the H-East, H-South and L-Gas storage zones was fully covered, the tendered requirement in the H-North and H-West storage zones was largely covered. A total of around 48 TWh was awarded.
With the award, the provider undertakes to commit to storage with proof of filling level on the key date and to secure a partial amount available for THE to call up at any time. In order to meet these obligations, the provider must either store gas quantities or fall back on gas quantities that have already been stored.
"With this tender, we have taken a first important step towards increasing the security of supply in the coming winter months," says Torsten Frank, Managing Director of THE.
The tender results of the SSBO Stage 1 tender are published on THE website.