Uniper Global Commodities SE auctioned virtual gas storage in an auction procedure via ICE Endex on 7 December 2017 The virtual gas storage service, as described in the EFET Individual Contract (Uniper Terms & Conditions below) as virtual gas storage, entitles the customer to hand over quantities of gas to Uniper and Uniper is obliged to return equal quantities of gas upon the customer’s request. The Auction comprised of 1 Bundled Unit (BU) as described in the product specification below.
ICE Endex has developed a custom built on-line single-sided auction mechanism which ensures that the Gas Storage Services are sold in a transparent, independent and market-based way. Market participants bidding in the auction remain completely anonymous and all information regarding participant's auction bids remains confidential.
The auction process, product specifications, rules for price determination and capacity allocation are further detailed in the Auction Rules.
For more information please contact us via Sales-Utilities@TheIce.com.
Uniper Global Commodities SE