Storage capacity auction calendar for the 2024/2025 storage cycle is confirmed

Public Utilities Commission (PUC) has approved the capacity auction calendar for the 2024/2025 storage cycle of the Inčukalns underground gas storage (UGS) of the joint stock company Conexus Baltic Grid (Conexus).

According to the amendments to the Regulations Regarding the Use of Inčukalns UGS approved by PUC in December 2021, Conexus must publish an auction calendar for the next storage cycle agreed with PUC on its website www.conexus.lv by January 10 each year.

According to the auction calendar, auctions for two-year bundled capacity products will be held every Tuesday, from January 30 to May 21, 2024 (inclusive). The auctions for the bundled capacity products will be held every Thursday from February 1 to June 6, 2024 inclusive. The auctions for the interruptible capacity products will take place every Thursday from June 20 to September 26 inclusive.

At the same time, Conexus informs that the tariff for the Inčukalna UGS stock transfer product is determined in accordance with the Natural Gas Storage System Service Tariff Calculation Methodology and is calculated using the results of the two-year bundled capacity product auctions in 2023. The tariff for the stock transfer product for the next storage cycle is therefore EUR 3,226/MWh. This tariff will apply to natural gas remaining in storage after April 30, 2024 and for which a two-year bundled capacity product has not been purchased.