Overview
When making an offer in response to the demand aggregated in a tender, sellers must provide an indicative price. Starting in the third tendering round, the pricing model for LNG and NBP tenders will be the same, as explained below.
As such, the price of offers will be used to:
1. Rank those offers in the Matching Process;
2. Start negotiations among buyers and sellers, which may lead to the conclusion of contracts.
Prices in LNG Tenders
In the first two LNG tenders, sellers had to provide a fixed outright price in EUR/MWh for the indicated volume.
Now, starting in the third LNG tendering round, the pricing model for LNG tenders will be the same as the one used in NBP tenders. Which is to say, sellers must express their price as a discount (negative value) or a premium (positive value) in EUR/MWh to the price of the Dutch TTF Natural Gas Futures for the month of delivery:
Buyers and sellers are free, however, to agree on a different location and time references for the price formulation while negotiating and concluding a contract (that is, after matching).
When submitting an offer, sellers must enter the price in the following field:
NOTE: reports and pricing data pertaining to the first two rounds will, therefore, reflect the old LNG pricing model. For Round 3 and subsequent rounds, the new model, as described above, applies.