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Auction Announcement Notice – 2018/8

Hungarian Gas Storage Ltd (hereinafter referred to as MFGT) on this day announces an auction for booking available storage capacities for the storage year 2018/19, 2019/2020, 2020/2021 és 2021/2022. The capacity auction is carried out by MFGT in line with the Storage Capacity Auction Regulation II/B document as per Annex No. 1.

Auction Details:

Auction name

2018/8

 

Auction Type

Minimum price

Registration deadline

23.04.2018 10:00 am

 

Partial delivery

Yes

Bid submission deadline

25.04.2018 14:00 pm

 

Currency of the Bid

HUF

Product

Árverés/Auction_2018_2022

 

Maximum bid price

As per Tariff Decree, HUF/kWh

Bid period

01.04.2018 – 31.03.2022

 

Bid price unit of quantity

0.0001

Content of one bundle

 

 

Minimum number of bid bundles

1

piece(s)

 

Working gas capacity

1000000

kWh

 

Maximum number of bid bundles

2000

piece(s)

 

Injection capacity

11111

kWh/day

 

Bid/participant

1

piece(s)

 

Withdrawal capacity

11111

kWh/day

 

The bid price does not include the volume fees or the VAT.

Injection cycle

in relevant storage year from 01.04. to 31.09.

 

Withdrawal cycle

in relevant storage year from 01.10. to 31.03.

 

 

Bidders cannot modify their working gas capacity booked for the storage year 2018/2019 and 2019/2020. With regard to further 2 storage years Bidder may modify their working gas capacity until 15th January preceding each storage year within the following ranges:

Storage Year

Range

2019/20

not modifiable ( the booked working gas capacity through auction)

2020/21

- 100%

2021/22

-100%

 

Bidders may deviate from their working gas capacity booked for the storage year 2018/2019 and 2019/2020 in the positive direction - maximum + 300% - with regard to storage years 2020/2021 and 2021/2022 only with the consent of MFGT.

The Auction can be accessed via MFGT’s IT Platform, following an early registration (https://nom.mfgt.hu/SMCS.html).

Capacity Bidders with valid registration for storage year 2018/2019 are not required to repeat their registration unless the content of the previously submitted document has changed.

For those without a valid registration for storage year 2018/2019, participation in the capacity auction shall be conditional on indicating the intent to participate before the deadline, which shall be in line with the registration process rules announced on 28th February 2018. Acceptance of the registration by MFGT shall be conditional on the full and complete submission of the documents required for registration as specified below, which can take place by mail or by email, however, in the latter case, the original documents shall also be submitted prior to bidding, in the absence of which the registration is rendered invalid, and thus the bid cannot be evaluated. Participant is obliged to inform MFGT of any changes to the content of the documents subsequent to their submission.

Registration

At the capacity auction, bids can be made by only those capacity bidders that are eligible for storage access, and whose documents submitted during the registration process were accepted.

Documents required for registration:

  • Original certificate of incorporation not older than 30 days in case of business organisations registered in Hungary and abroad, and its translated copy in Hungarian or in English (certified translation is not required in case of companies registered in Hungary, the online version by the Hungarian Ministry of Justice is accepted –  http://www.e-cegjegyzek.hu/ ) in case of business organisations registered abroad.

  • The original copy of the power of attorney (Annex No. 8.3 of the MFGT Code of Business Conduct: Storage Capacity Auction Regulation II/B, Annex No. 1) authorizing the Attorney(s)-in-fact to act during the capacity auction process on behalf of the capacity bidding company, the Bidder. The power of attorney shall clearly indicate that the attorney-in-fact is entitled to represent the capacity bidder during the Submission of Bids. (Annex 5.)

  • In case of business organisations registered in Hungary: copy of the notarised specimen signature(s) or sample signature(s) countersigned by an attorney-at-law of the authorised signatory (signatories) signing the Power of Attorney.

  • In case of business organisations registered abroad: copy and translated English or Hungarian copy of the notarised specimen signature(s) (or sample signature(s) countersigned by an attorney-at-law) of the authorised signatory (signatories) signing the Power of Attorney; or the original copy and translated English or Hungarian copy of their sample signature signed in manuscript in the presence of two witnesses, and in the latter case: a Hungarian or English copy of the signed side of a personal document belonging to the signatory (by mail or e-mail).

  • Original copy of “Basic Data for IT Platform (SMCS) Registration”. (Annex 3.)

Accordingly, in order to participate in the capacity auction, the listed documents shall be delivered until the registration deadline specified for this auction. Although registrations received after the deadline specified in the registration process may be accepted, they only qualify the capacity bidder to submit bids on subsequent auctions announced in storage year 2018/2019, as they shall be considered as void in terms of this auction. In the event of any changes in the content/form of the documents (e.g.: changes in signatories/attorneys-in-fact, identification instruments or data concerning the company) as submitted previously (in the same storage year), participant shall inform MFGT and re-submit the relevant document(s) not later than until the end of the 3rd business day preceding the bid submission deadline of the subsequent capacity auction.

Please note, even if you are a customer with valid registration:

In as far as the participant fails to submit the required (and updated) document(s) or fails to inform MFGT of the changes, its registration for the capacity auction shall not be accepted until the correction of such document(s).  Furthermore, participant shall be fully liable to MFGT or to a third party for any direct or indirect damage arising from the failure to provide or to properly provide such information.

MFGT reserves the right to request deficiency correction from the participant – if any formal or substantive deficiency or other non-conformity (e.g.: delay) is detected during the specific review of the documents submitted –, and the participant may not have valid registration for the auction unless such deficiency correction is performed within the deadline – set forth by MFGT.

Deadline for submitting to MFGT the documents required for registration in relation to this auction: 23rd April 2018, 10:00 am.

In case of a valid registration, MFGT confirms the fact of registration to the Bidder by e-mail.

During registration, MFGT shall be obliged to treat data submitted to the auction in a confidential manner and will not disclose them to any third party.

Final Provisions

Awarded bidders shall be notified by MFGT following the evaluation until 17:00 hours.

Following the auction, MFGT and the Bidder having submitted a valid and successful bid shall conclude the Natural Gas Storage Contract on the awarded natural gas storage capacities within 5 business days from the auction.

Auctioneer (MFGT) explicitly reserves the right to withdraw without explanation the open storage electronic capacity Auction announced as Capacity Auction No. 2018/8 until the announcement of its results.

In the event that the Auction is withdrawn, Auctioneer will not compensate for any damage or cost incurred by the bidders.

Should you have any further questions or require information in relation to the auction, please consult the designated contact persons of MFGT: Hajnalka Horváth (Phone: +36 30-748-99-71, e-mail: horvathh@mfgt.hu and Balázs Meggyes (Phone: +36-30-718-9343, e-mail: meggyesb@mfgt.hu), sales experts.

 

Annexes:

  1. Storage Capacity Auction Regulation II/B

  2. SMCS Auction Module - System User's Guide

  3. IT Platform (SMCS) registration form

  4. Contract Template

  5. Power of Attorney MFGT electronic capacity auctions

 

 

     

Budapest, 16th April 2018