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Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced the results of the ICE Endex gas storage auction held on November 18, 2015, on behalf of GasTerra.
On November 18, a total of 4,549,451 Standard Bundled Units (SBUs) for the contract period 2016/2017 were offered to the market and after three auction rounds, 1,757,577 SBUs were allocated. The outcome of the auction is an average weighted price per SBU of 2.00 EUR.
The remaining 2,791,874 SBUs will be added to the 4,549,450 SBUs already on offer in the auction on February 10, 2016 for the contract year 2016/2017, making the total SBUs on offer 7,341,324 SBUs.
ICE Endex auctions gas storage services in the Netherlands on behalf of GasTerra. The storage services are sold in the form of Standard Bundled Units or SBUs, which allow market parties to input or withdraw natural gas from a virtual storage facility. Almost 2 billion cubic meters of gas storage, in the form of 13.2 million SBUs, is offered via auction annually via one-year or five-year products. ICE Endex has developed a custom built, single-sided auction mechanism which ensures that SBUs are auctioned in a transparent, independent and market-based approach. Market parties who bid in the auction remain anonymous.
ICE Endex provides transparent and widely accessible continental European markets for trading natural gas and power derivatives, gas balancing markets and gas storage services, including the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands, NetConnect and Gaspool trading points in Germany, UK On-the-Day Commodity Market (OCM) and Belgian Zeebrugge Trading Point (ZTP).
