AMSTERDAM--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the results of the ICE Endex gas storage auction held on November 30, 2016, on behalf of GasTerra.
On November 30, a total of 4,549,451 Standard Bundled Units (SBUs) for the contract period 2017/2018 were offered to the market and after four auction rounds, 4,549,451 SBUs were allocated. The outcome of the auction is an average weighted price per SBU of 2.07 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 “standard bundled units” (SBUs), which allow market participants to inject or withdraw gas from a virtual storage facility. A 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 20 billion kWh of natural gas or 13,229,456 million SBUs. The natural gas from this virtual storage is delivered at the Title Transfer Facility (TTF), which is the benchmark Dutch natural gas trading hub.
As the 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.
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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, 2015, as filed with the SEC on February 4, 2016.
SOURCE: Intercontinental Exchange