Creos Luxembourg to start auctioning on PRISMA Platform

The connection point will be Remich and the transmission capacity will be offered unbundled

(PresseBox) ( Leipzig, )
Creos Luxembourg will start auctioning on PRISMA European Capacity platform (PRISMA Platform). The transmission capacity will be offered for the interconnection point Remich.

Creos Luxembourg will auction the four next quarters as unbundled capacity product with nomination obligations. The auctions details are:

- The first two quarters (01.10.2015 to 01.01.2016 and 01.01.2016 to 01.04.2016) will be auctioned in June using the standard firm quarterly auction date (the quarterly auctions will start on the 1st of June, 2015).
- The last two quarters (01.04.2016 to 01.07.2016 and 01.07.2016 to 01.10.2016) will be auctioned in July. Creos Luxembourg and PRISMA will later inform the market participants about the date when the second auctions will be organized.
- One specific characteristic of the auctions organized by Creos is that the bidders will be bound to take the exact amount of the auction. No partial bid will be allowed.

''The auction process at the IP Remich in June is a novelty for Creos. We are convinced of the attractiveness of the conditional capacity product that we will offer to the market. From the operational point of view, shippers won't have to subscribe for this conditional capacity on the German side as Creos Luxembourg will secure and operate the nomination service for the shipper beyond the IP Remich. With our conditional capacity solution, we connect via IP Remich the NCG to ZTP combining commercial benefits and security of supply in an integrated market'' said Marc Meyer, Head of Grid strategy and Asset Management.

"I am very pleased to announce Creos' decision to start auctioning on PRISMA European Capacity Platform. Counting more than 400 registered shippers, 35 connected TSOs and more than 1,400 users, PRISMA has proven its pivotal role in the creation of a transparent and efficient European gas market", said Götz Lincke, Managing Director PRISMA.
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