ICE Endex to Host Gas Storage Auctions for RWE Gasspeicher; First German Gas Storage Auction to be held in January 2016
Intercontinental Exchange (NYSE: ICE), the leading global network of
exchanges and clearing houses, today announced that ICE Endex has been
selected by RWE
Gasspeicher GmbH (RWE), one of the leading storage operators in the
North-Western European gas market, to host auctions for their gas
storage.
The first auction is scheduled to be held on January 20, 2016, which
will be ICE Endex’s first gas storage auction for the German market. RWE
Gasspeicher will use ICE’s auction platform to offer storage capacity in
the German market area NetConnect Germany (NCG).
The addition of a gas storage field in the NCG delivery zone will
diversify ICE’s successful European gas storage services that are
currently used in the Netherlands.
“We are very pleased about the cooperation with ICE Endex, which is
well-known as a competent and experienced partner in auctioning
flexibility. This cooperation offers us an attractive, additional
possibility to serve the North-West European gas market with our storage
products,” said Michael Kohl, Commercial Managing Director of RWE
Gasspeicher GmbH.
“Today’s appointment by RWE Gasspeicher further strengthens our gas
storage offering that uses ICE’s best-in-class auction and trading
platform. We are delighted to extend our bespoke auction facilities to
RWE Gasspeicher,” said Pieter Schuurs, President, ICE Endex. “ICE is
committed to providing value added services to market participants in
the German energy market, as well as growing liquidity across key
European natural gas hubs.”
In April, ICE Endex added NetConnect
Germany as a member of the ICE TTF spot market and the exchange
continues to facilitate growing interest in the ICE NCG and Gaspool
futures contracts.
Details on the auction and rules, as well as the product characteristics
for the auction, will be made available in due course.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of
regulated exchanges and clearing houses. ICE’s futures exchanges and
clearing houses serve global commodity and financial markets, providing
risk management and capital efficiency. The New York Stock Exchange is
the world leader in capital raising and equities trading.
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of 1995 - Statements in this press release regarding ICE's business that
are not historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of additional risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see ICE's Securities and
Exchange Commission (SEC) filings, including, but not limited to, the
risk factors in ICE's Annual Report on Form 10-K for the year ended
December 31, 2014, as filed with the SEC on February 5, 2015.
About RWE Gasspeicher
RWE Gasspeicher GmbH is an unbundled Storage System Operator which
operates and markets gas storage facilities for the North-West European
gas market. The storages are connected to the market areas NCG, Gaspool
and TTF with a total capacity of ~1.9 bcm. For further information
please have a look at: www.rwegasspeicher.com.
SOURCE: Intercontinental Exchange
ICE-ENGY
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