Overview
In LNG capacity auctions, some LSOs (LNG Operators) may use the ascending clock algorithm to allocate capacity. These LSOs are Deutsche Energy Terminal (short-term only), Deutsche Regas, TotalEnergies LNG Services France, Fosmax LNG and Elengy.
Note: The Ascending-Clock Algorithm for LNG capacity auctions differs from the Ascending Clock Algorithm used in transport capacity auctions.
Remember that, to be able to participate in the LNG capacity auctions on the PRISMA platform, you will first need to:
1. Register your shipper company on PRISMA.
2. Request an assignment to the operator in whose auctions you wish to participate and have the assignment approved by the operator.
General Rules
a. In ascending clock algorithm auctions, a given amount of capacity or number of slots is offered with predefined price steps.
b. A bid can be placed for a certain amount of capacity or number of slots at a given price.
c. All auctions start at the starting price (SP) in the first bidding round.
d. If there is overdemand, additional price steps are applied in the following bidding rounds.
e. The last bidding round after price steps rounds is evaluated according to the pay-as-bid algorithm.
Content
1. Undersell in the first bidding round
2. Clearance
a. Round 1
b. Round 2
3. Undersell in a Price Step Round
a. Round 1
b. Round 2
c. Round 3
d. Final pay-as-bid round
1. After the round is closed, the platform ranks the bids by price in descending order.
2. The bidder who offers the highest price receives the requested capacity.
3. If there is leftover capacity or slots, they will be allocated to the next bidders whose minimum requested capacity can be fulfilled in descending order by price.
Note: If multiple bidders submit bids with the same price and quantity in the final pay-as-bid round, the allocation will be determined based on the timestamp of the bids. The bidders who placed their bids earliest will be given priority in the allocation.