The Commercial team 30/11/2018
Storengy UK is pleased to announce that as of the end of yesterday's auction all gas storage capacity at Stublach available for the 2019/20 storage year has now been allocated in auction. This totalled 1.7TWh making up three different products auctioned over the last 3 weeks.
The high level of customer engagement during the design of the products including the introduction of options for relief from the potential impact of the Gas Charging Review reduced the uncertainty for customers and this was reflected in the high demand for the products on offer.
The three products on offer consisted of two “3-phase” debrining products, which allow successful bidders to use the capacity as a normal Storage product in the 3rd Phase, after a baseload injection period (Phase 1) in June or July followed by a parking period (Phase 2). The third product was our standard 30:30 product which gives constant injection and withdrawal rights over all stock levels for the whole storage year.
Whilst Storengy UK does not publish the cleared or reserve prices for its auctions we can confirm we are pleased with the results of the auction and that the auctions showed a clear demand for the products on offer as the capacities in all 3 auctions were 5 times oversubscribed by the bids received.
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