Commission Regulation (EU) 2017/459Dangos y teitl llawn

Article 12 U.K. Annual quarterly capacity auctions

1. Four annual quarterly capacity auctions shall be held during each gas year.

2. Capacity for each quarterly standard capacity product shall be auctioned through the annual quarterly capacity auctions using an ascending-clock auction algorithm in accordance with Article 17.

3. Capacity for quarters of the upcoming gas year shall be auctioned via concurrent auctions for each quarter and in relation to each interconnection point as follows:

(a) for quarters one (October-December) through four (July-September) in the first annual quarterly capacity auction;

(b) for quarters two (January-March) through four (July-September) in the second annual quarterly capacity auction;

(c) for quarters three (April-June) through four (July-September) in the third annual quarterly capacity auction;

(d) for the last quarter (July-September) in the fourth annual quarterly capacity auction.

For each annual quarterly auction network users shall be able to participate in all of the concurrent auctions.

4. Each gas year the annual quarterly capacity auctions shall start on the following days, unless otherwise specified in the auction calendar:

(a) the first annual quarterly capacity auctions shall start on the first Monday of August;

(b) the second annual quarterly capacity auctions shall start on the first Monday of November;

(c) the third annual quarterly capacity auctions shall start on the first Monday of February;

(d) the fourth annual quarterly capacity auction shall start on the first Monday of May.

5. The capacity to be offered in all annual quarterly capacity auctions shall be equal to:

• A – C + D

• Where:

  A

  is the transmission system operator's technical capacity for each of the standard capacity products;

  C

  is the previously sold technical capacity, adjusted by the capacity which is re-offered in accordance with applicable congestion management procedures;

  D

  is additional capacity, for such quarter, if any.

6. Two weeks before the auctions start, transmission system operators shall notify network users about the amount of capacity to be offered for each quarter for the upcoming annual quarterly capacity auction.

7. The bidding rounds of each auction, shall take place between [F1 8.00 a.m. to 5.00 p.m.] on all relevant gas days. Bidding rounds shall be opened and closed within each gas day, as specified in Article 17(2).

8. The allocation results of the auction shall be published, as soon as reasonably possible, and no later than the next business day after the closing of the bidding round, simultaneously to individual network users participating in the respective auction.

9. Aggregated information on the auction results shall be published to the market.

Textual Amendments

F1 Words in Art. 12(7) substituted (31.12.2020) by The Gas (Security of Supply and Network Codes) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/531), reg. 1(2), Sch. 4 para. 10; 2020 c. 1, Sch. 5 para. 1(1)