Innovative Tender Procedure 2013: A Successful Launch for a Flexible Future
Leipzig, November 19th 2013
Last week, VNG Gasspeicher concluded their first tender procedure, a two stage bidding procedure. Customers were offered the opportunity - as of now - to put together their products individually on the online platform easystore. "Our customers are able to become their own product designers. Many of them chose to tailor the products so that they precisely meet their own needs", Bernd Protze, managing director of storage operations with the Leipzig based storage company.
As part of the procedure's first phase, then different offers were received on the 11th of November, 2013. Both customized as well as standard configurations were requested. During this first phase, capacity for the Kirchheilingen and Bernburg locations was "overbooked" five-fold for the coming storage year.
Following the end of the offer phase, VNG Gasspeicher examined the offers submitted, selected one product for each of the storage facilities and published this information on easystore. "Our customers tended to configure fast products in which their natural gas can be injected and withdrawn in the shortest of times", explained Protze.
For instance, the custom product selected for the Bernburg location can be completely injected and withdrawn within 61 days as opposed to the standard of 193 days.
On the 14th of November, 2013 customers who had registerd with VNG Gasspeicher were able to submit their binding offers for the selected products. VNG Gasspeicher received a total of nine binding bids meaning that the 30 million m³ (340 GWh) of working gas volume which had been on offer was marketed successfully in whole.
"Our launch of the innovative tender procedure was a great success. Active participation and the high level of interest in the concept, tell us that we will be able to use this in the future to efficiently serve the need for fexibility on the gas market", said Protze.
The tender procedure has also been in use for capacities in the new, high-performance storage facility in Etzel since the 18th of November, 2013. A total of 1,340 GWh of working gas volume and service oriented towards trading are available there. All details concerning this tender procedure and how it works are available at www.vng-gasspeicher.de or simply call us at 0341-443 2956.
