SPP to hold first auction sale of natural gas for next year

The Slovak natural gas utility, Slovenský Plynárenský Podnik (SPP), will hold its first auction sale of natural gas between August 20 and September 8, 2010 at which the company will sell natural gas to be delivered in 2011 and possibly also for the following two years, the SITA newswire wrote.

The Slovak natural gas utility, Slovenský Plynárenský Podnik (SPP), will hold its first auction sale of natural gas between August 20 and September 8, 2010 at which the company will sell natural gas to be delivered in 2011 and possibly also for the following two years, the SITA newswire wrote.

The price for the commodity at auction will be proposed by the bidder. The winners will be the bidders offering the best price per 1 MWh of natural gas, SPP spokesman Ondrej Šebesta told SITA.

SPP is bringing the auction form of sale of natural gas to Slovakia on the basis of experience with similar auctions abroad. Both Slovak and foreign businesses will be able to attend the auction.

Bidders may bid for gas supplies for 2011, whereby each bidder submitting a bid for 2011 will be entitled to submit bids also for 2012 or 2013, with the condition that the contracted quantity for individual years must be equal. A bidder can choose between fixed and flexible supply or a combination of the two.

The point of supply is the virtual home-point, namely the exit point from the transmission network. SPP will also provide a gas supply to an off-take point specified by the bidder.

The Slovak government holds 51 percent of SPP shares via the government privatisation agency, the National Property Fund (FNM). A consortium of E.ON Ruhrgas and GDF Suez controls the remaining 49 percent.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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