On 9 January 2019, the Secretary of the Government of Energy ("SE") published and put into consideration and evaluation of all interested parties a proposal for the "Auction for the Supply of Natural Gas in Firm Condition for Supplying the Distributors of Public Gas Demand"("Auction"). The SE proposed a period for interested parties to make comments, observations or modifications until 25 January 2019.
The main features of the Auction are:
- Gas producers (sellers) will participate on one hand, and distributors (buyers) on the other.
- Its purpose is to implement a market mechanism to achieve the contracting of the gas volumes required by users by means of successive rounds of negotiation that will be performed as reverse auctions (that is, that the producers will compete by reducing the prices for obtaining the contract) in an electronic platform.
- Offers must be submitted in firm condition, they will not be interruptible.
- There will be different areas of negotiation and modalities of purchase and sale.
- The Gas Electric Market S.A. (MEGSA) will enable in its platform the rounds for the entry of gas volumes to be auctioned and firm sale offers on 11/02/2019, each of thirty (30) minutes duration.
- If price equality occurs, the offer presented in advance in the corresponding round will be prioritized.
In the Resources section of this page, you can find the bid model and general conditions of the Auction.