ICE Endex Announces Results of European Gas Storage Auction for GasTerra
November 25 2020 - 8:00AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, today announced the results
of the ICE Endex gas storage auction held on November 25, 2020, on
behalf of GasTerra.
On November 25, a total of 1,696,084 Standard Bundled Units
(SBUs) for the contract period 2021/2022 were offered to the market
and after five auction rounds, all SBUs were allocated. The outcome
of the auction is an average weighted price per SBU of 3.35
EUR.
ICE Endex has successfully operated auctions for virtual gas
storage services in the Netherlands since 2011, with auctions
taking place twice a year.
Gas storage services are sold in the form of SBUs, which allow
market participants to inject or withdraw gas from a virtual
storage facility. An SBU has a capacity of 1,440 kWh and
participants may withdraw between 0.6 and 1.0 kWh per hour and
inject up to 0.3333 kWh per hour. The total annual gas storage
space is almost 5 billion kWh of natural gas or 3,392,168 SBUs. The
natural gas from this virtual storage is delivered at the Title
Transfer Facility (TTF). TTF is the most liquid European natural
gas benchmark, followed by ICE’s UK Natural Gas Futures.
Amid the liberalization of liquefied natural gas and the
corresponding globalization of natural gas markets, TTF is evolving
into a global natural gas benchmark. TTF Futures and Options volume
is up more than 50% year over year, while Open Interest is up more
than 20% year over year.
As a leading energy exchange in Continental Europe, ICE Endex
provides transparent and widely accessible continental European
markets for trading natural gas and power derivatives, gas
balancing markets and gas storage services.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500
company and provider of marketplace infrastructure, data services
and technology solutions to a broad range of customers including
financial institutions, corporations and government entities. We
operate regulated marketplaces, including the New York Stock
Exchange, for the listing, trading and clearing of a broad array of
derivatives contracts and financial securities across major asset
classes. Our comprehensive data services offering supports the
trading, investment, risk management and connectivity needs of
customers around the world and across asset classes. As a leading
technology provider for the U.S. residential mortgage industry,
ICE Mortgage Technology provides the technology and
infrastructure to transform and digitize U.S. residential
mortgages, from application and loan origination through to final
settlement.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at
http://www.intercontinentalexchange.com/terms-of-use. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
ICE-CORP
Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20201125005619/en/
ICE Media Contact: Rebecca Mitchell
rebecca.mitchell@theice.com +44 7951 057 351 media@theice.com
ICE Investor Contact: Warren Gardiner
warren.gardiner@theice.com +1 770-835-0114 investors@theice.com
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