In the period from October 4, 2022 to October 18, 2022, THE carried out an LTO RoD tender for the period from January up to and including March 2023 for the first time. After evaluating the bids submitted, THE decided not to award any contracts in the tender for the period.
The bids submitted were exceptionally high compared to previous tenders. The offers (charge) were cumulatively in the three-digit million range.
THE evaluated the results of the tender and the further procedure together with the transmission system operators and the authorities and announced a new LTO tender for the RoD product variant and the periods from January up to and including March 2023.
Offers could be submitted in from November 8, 2022 to November 15, 2022.
After the end of the tender, the submitted offers were evaluated by THE in coordination with the German transmission system operators and the relevant authorities.
Overall, there is a significantly improved supply situation compared to the first tender, and sufficient bids have been submitted for all advertised zones.
In line with the current market situation, prices are still at a high level. This price development was to be expected in principle, but not to this extent. In order to avoid an unreasonably high burden on the relevant neutrality accounts, after intensive consideration of the details, it was decided together with the transmission system operators not to accept the offers for the month of January. This is necessary and justifiable, among other things, against the background of the successful filling of the German storage facilities and taking into account the high prices. The offers for the months of February and March, on the other hand, are accepted in full in order to cover the additional hedging requirements required via the LTO product.
The demand advertised for the months of February and March was fully covered.