DEPA gas amount offered at annual auction fully absorbed

Participants absorbed the full gas amount offered at today’s annual DEPA (Public Gas Corporation) natural gas auction, a session that drew particular interest as a result of the recent bailout measure requiring the corporation to gradually double its gas release, the gas amount the corporation supplies to the market through its auctions, from 10 percent to 20 percent by 2021, in order to generate market competition.

Bidders put in a solid and competitive showing. M&M Gas, a Mytilineos Group and Motor Oil Hellas wholesale venture, absorbed virtually all the amount offered in the auction’s second part.

Gas suppliers purchased the majority of the gas amounts offered.

According to sources, a first gas amount of 2,428,043.015 MWh offered in 50,000 units of 48.561 ended 0.50 dollars per MWh over the starting price of 954.60 dollars.

A second amount of 1,456, 825.809 MWh offered as 50,000 units of 29.137 MWh ended 1.10 dollars over the starting price of 572.77 dollars.

According to sources, besides M&M Gas, other auction participants included Heron, Elval, Cedalion, EPA Attica, EPA Thessaloniki and EPA Thessaly.