First Gas have issued a Market Based Tender to procure operational gas for Gas Year 20/21. The process will be executed via emsTradepoint and facilitated by Nick McDougall of Aotearoa Energy.
How will it work?
This is the first time an open tender of this nature has been run utilising emsTradepoint’s central counterparty clearing facility. All Participants to emsTradepoint are invited to submit offers to supply gas for the period between 1 October 2020 and 30 September 2021.
Offers may be any quantity up to the Daily Quantity for any month during the supply period. Multiple offers can be submitted by prospective suppliers. All accepted offers will be executed as off-market trades on the emsTradepoint platform.
All Offers received will be ranked from lowest price to highest price. The Daily Quantity for each month will be filled starting with the lowest price for that month, followed by the next lowest price offer until the Daily Quantity is fully filled for that month.
What is emsTradepoint’s view?
The format of this tender process increases price transparency for this type of procurement. If successful, we see potential for similar processes to be run through emsTradepoint in the future. This may provide increased depth and diversity in our participant pool and expose pricing signals to a wider market.
emsTradepoint supports the tender process and will be monitoring the outcomes.
Offers must be submitted to email@example.com by 4pm NZ standard time on Friday 7 August 2020. Any enquiries for information should also be directed to Nick.