Ruhrgas Gas Release Programme Auction
Germany
July 2003 - present

In 2002, the Federal Minister of Economics and Labour approved the acquisition by E.ON of the share capital in Ruhrgas, subject to Ruhrgas fulfilling a number of obligations. These obligations include a Gas Release Programme (GRP) under which Ruhrgas is required to conduct auctions in six annual steps and to release a total volume of 200 billion kWh of gas. With the GRP auctions, Ruhrgas offers in each of the six annual auctions a tranche of 33.33 billion kWh of high calorific gas, which will be made available in three annual quantities of 11.11 billion kWh. The deliveries under contracts won in the annual auction will commence on October 1st of each year.

The Gas Release Programme auction is an ascending-clock auction designed by Market Design Inc. and implemented on the PowerAuction software system.  Ruhrgas conducts the auction in the spring of each year, giving purchasers time to arrange transportation and possibly re-sell the gas before deliveries start.

Further details about the Ruhrgas Gas Release Programme Auction can be found on the Ruhrgas Gas Release Programme website.