OFFER 2018/2019
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2 0 1 8 A Y E A R O F C H A N G E S 3
Regulated storage for 2018/19 sales BEFORE 2018/19 CAMPAIGN ON GOING PROCESS Allocation by auction and by specific rules French SSOs are free to set up storage fees Storage fees reflect operational cost NOV DEC JAN FEB MARCH 18 Technical notice from SSO Public Consultation to shippers Hydrocarbon Law Publication Deliberation by CRE Commercialization by auctions fees /MWh of WGV 14 7 3,5 Which benefit/opportunity? Non discriminatory and transparent access Storage fees @ market price 0 nominal withdrawal duration days 50 100 French SSOs will have a regulated revenue provided by storage sales and a compensation on transportation tariffs linked to distribution network 4
A Single Market Place in France from November 1 st 2018 CONTACT GRTGaz for MORE Which benefit/opportunity? Watch video on Youtube Firm capacity at PITS (transport/storage connection point with GRTgaz network) Congestion mechanisms increase the geographical value of our storage facilities Opportunity to participate in Locational Spread at PITS example : 3 to 6 /MWh in November 17 5
PRODUCTS D E S I G N T O F I T N E E D S 6
Our 5 products BUNDLES SEASONAL MID FAST SPECIFIC SUM 18 SUM 19 WGV only 7
Our 5 products SEDIANE B SEDIANE NORD SERENE NORD SERENE LITTORAL SERENE SUD SALINE +100 TWh 8
Our standard bundles SERENE Nominal INJ WDR 120 75 SEDIANE NORD INJ WDR Nominal 80 42 SALINE Nominal INJ WDR 90 19 Effective 134 119 Effective 95 53 Effective 153 23 Market area PEG North / TRS Market area PEG North Market area TRS PITS* NB ; NC / SC PITS* NA PITS* SA Choose your own level of WGV Usual Injection period April to October SEDIANE B INJ Nominal Effective WDR 120 54 120 55 BASIC SERVICES INCLUDED Usual Withdrawal period November to March Market area PITS* PEG North B 0 /MWh variable cost *PITS : transport/storage connection with GRTgaz network 9
Products linked to GRTgaz network MERGER POSSIBLE Booking storage capacity @ Storengy April 18 Booking annual transmission @ GRTgaz on nominal injection & withdrawal capacity November 18 SEDIANE B (LOW-GAS)* SEDIANE PEG NORTH B NA SERENE LITTORAL NC NB SERENE NORD SEDIANE B (LOW-GAS)* SERENE LITTORAL B TRF NC NA NB SEDIANE SERENE NORD SERENE SUD TRS SC SA SALINE SERENE SUD SC SA SALINE PITS : transport/storage connection with GRTgaz network L-Gas : specific balancing rules applies to L-gas area (contact GRTgaz for more details) Tariffs evolution on November 1 st 2018 on PITS NC and SC (contact GRTgaz for more details) Possibility to merge your Operational Products (except IS) on November 1 on PITS NC & SC 10
Our standard restrictions Level of restriction Stock level Example of capacity s ratchets 100% 100% Example of Min/Max stock level 80% 80% 60% 40% 60% 40% 20% Daily Basic Injection Capacity Daily Basic Withdrawal Capacity 20% 0% 0% 20% 40% 60% 80% 100% Stock level 0% Max 20 to 30 days on each product No maintenance impacting withdrawal during winter Coordination works between Storengy/GRTgaz 11
Our specific products IS 18/19 SUM 18 - SUM 19 INJ 18 WDR 19 Nominal 120 60 Effective 134 60 WGV only Unbundled WGV without daily capacity (access to additional daily capacity UIOLI/FP) Possible merger with products on NC and SC Market area TRS Market area PEG North / TRS PITS SC PITS* NC or SC GAS PARKING * Client can choose PITS after allocation Possible merger only with WGV product No stock variation during winter 12
WGV offered on auctions 4 3 58 25 12 W G V IS SEASONAL SERENE SUD LITTORAL NORD 10.9 31.2 16.65 MID SEDIANE NORD B 11.65 13.4 FAST = 1 0 3 T W h 13
COMING AUCTIONS 14
Auction with a known reserve price Reserve price based on a published formula March 18 STORENGY PROPOSAL Reserve Price = Max 0 ; α spread β α = a + b effective withdrawal days 5 spread = k= 1 WIN k SUM k 5 β = PITS + WCR + Variable + Localisation + Margin + Discount c 2 auctions a day 3 days a week 1 product by auction almost equals to 0 /MWh for most of the products when considering a spread of 1.5 /MWh 15 TWh a day 15
Auction by fixing with Pay as Cleared Bid requests EXAMPLES Reserve Price : 0 /MWh Proposed Capacity : 5 000 MWh MWh SHIPPERS TOTAL DEMAND CURVE 5 000 MWh STORENGY PROPOSAL BIDS SHIPPER A 1.5 5 000 MWh 2 3 000 MWh 3.5 1 500 MWh @ a clearing price of 2 /MWh, shipper A is ready to buy 3 000 MWh of WGV BIDS SHIPPER B 1 5 000 MWh 2 2 500 MWh 2.5 1 500 MWh 3 000 10 000 1 500 80000 MWh 0,5 1 1,5 2 2,5 3 3,5 4 5 500 5 000 3 000 2 500 1 500 SHIPPER A SHIPPER B /MWh @ a clearing price of 1 /MWh, shipper B is ready to buy 5 000 MWh of WGV 0 0,5 1 1,5 2 2,5 3 3,5 4 0,5 1 1,5 2 2,5 3 3,5 4 /MWh /MWh 16
Auction by fixing with Pay as Cleared Bid requests EXAMPLES Reserve Price : 0 /MWh Proposed Capacity : 5 000 MWh SHIPPERS TOTAL DEMAND CURVE MWh STORENGY PROPOSAL BIDS SHIPPER A 1.5 5 000 MWh 2 3 000 MWh 3.5 1 500 MWh @ a clearing price of 2 /MWh, shipper A is ready to buy 3 000 MWh of WGV 10 000 78 500 000 5 500 BIDS SHIPPER B 1 5 000 MWh 2 2 500 MWh 2.5 1 500 MWh @ a clearing price of 1 /MWh, shipper B is ready to buy 5 000 MWh of WGV 3 000 1 500 0 0,5 1 1,5 2 2,5 3 3,5 4 /MWh 17
Auction by fixing with Pay as Cleared Bid results EXAMPLES Reserve Price : 0 /MWh Proposed Capacity : 5 000 MWh BIDS SHIPPER A 1.5 5 000 MWh 2 3 000 MWh 3.5 1 500 MWh FROM DEMAND TO OFFER MWh 10 000 78 500 000 STORENGY PROPOSAL Shipper A : 1500 + (3000-1500)/2500*2000 = 2700 MWh @ 2 /MWh Shipper B : 1500 + (2500-1500)/2500*2000 = 2300 MWh @ 2 /MWh @ a clearing price of 2 /MWh, shipper A is ready to buy 3 000 MWh of WGV BIDS SHIPPER B 1 5 000 MWh 2 2 500 MWh 2.5 1 500 MWh 5 500 5 000 5 000 3 000 1 500 PROPOSED PROPOSED CAPACITY CAPACITY @ a clearing price of 1 /MWh, shipper B is ready to buy 5 000 MWh of WGV 0 0,5 1 1,5 2 2,5 3 3,5 4 CLEARING PRICE = 2 /MWH /MWh 18
CALENDAR G E T R E A D Y F O R A U C T I O N S 19
Calendar subject to validation by CRE deliberation ON PROGRESS WEEK 10 March 5 th to 8 th WEEK 11 March 12 th to 15 th Monday 5 MORNING SALINE (incl EZ20) 4.1 TWh AFTERNOON SERENE SUD 7 TWh Monday 12 Tuesday 13 MORNING SERENE NORD 6 TWh SERENE LITT 11 TWh AFTERNOON SALINE 4.1 TWh SEDIANE NORD 4 TWh Thursday 8 SERENE LITT 11 TWh SEDIANE NORD 4 TWh Thursday 15 SERENE NORD 6 TWh SERENE SUD 3.9 TWh WEEK 12 March 19 th to 22 th Monday 19 Tuesday 20 MORNING SEDIANE NORD 3.65 TWh SERENE LITT 9.2 TWh AFTERNOON SERENE NORD 4.65 TWh WGV only 4 TWh WEEK 13 March 26 th to 29 th AFTERNOON MORNING Monday 26 Tuesday 27 SEDIANE B 13.4 TWh IS IS IS Thursday 22 SALINE 4 TWh IS 18/19 3 TWh Thursday 29 IS 18/19 20
Biding process subject to validation by CRE deliberation ON PROGRESS MORNING PLANNING BID REQUEST BID RESULTS AFTERNOON PLANNING BID REQUEST BID RESULTS 21
SERVICES U P G R A D E S T O R A G E V A L U E 22
Our services or how to customize your products ADDITIONAL DAILY CAPACITIES PUBLI-STOCK Firm or interruptible daily capacities to boost your products SECONDARY MARKET Gas-in-store or products exchanged between shippers Q-EXTEND FINANCING SERVICES - FIT Partnership with a banking establishment in order to control your WCR REMIT declaration of customers Inventory Level 3-month withdrawal extension option 23
Services Appendice Additional daily capacities Access to additional capacities (injection and withdrawal) in Day-Ahead and any time in Within-Day UIOLI (Use It Or Lose It) Interruptible capacities depending on the usage of other customers on the group storage First Come First Served basis FLOW PLUS Firm capacities depending on the SSO physical constraints and fixed once scheduled First Come First Served basis Injection & Withdrawal: 0 /MWh Injection: 0.35 /MWh Withdrawal: 0.12 /MWh 24
Services Appendice Secondary market ithin the same Storage Group equest : D-3 Capacity Transfer Within the same Storage Group Request : 5 working days before 500 Capacity and Gas-in-Store transfer (Terms apply to both Buyer and Seller) Gas-in-Store Transfer Within the same Storage Group Request : 3 working days before 250 Btw Serene Littoral and Serene Sud N TRS Request: From April 1 st 18 to March 31 st 19 Quantity max: 7 times the Nominal Injection Capacity for a week Transfer within 3 working days 250 Btw 2 different Storage Groups ( Littoral/Sud) Request: Before April 15 th N Quantity max: 20 % of capacity booked of the arrival storage group Transfer in 5 times every 2 weeks ; Need a product on the departure storage group 1 250 + 0.10 /MWh 25
Services Appendice Q-EXTEND An option to get 3 months more to withdraw your gas Q-EXTEND Request : no later than 5 working days before April 1 st N Fast withdrawal rate: 45 nominal days without any reduction factors No Injection, no UIOLI at withdrawal, No Flow Plus at withdrawal Application for maintenances Storengy and GRTgaz Subscribed Volume Catalogue Product + Product 45 for 3 months + 3 months Free included option / 500 if exercised 26
Services Appendice Financing services -FIT Optimize your Working Capital Secured Financing Improved funding rate using gas-in-store and storage contract as security package Complete operational control over the storage operations retained at the supplier s level Sale with buy-back option Off Balance sheet structure Volumes and capacities remain in the supplier s portfolio, especially for energy reporting 3 000 (bank fees not included) 5 000 (bank fees non included) 27
D I G I TA L D A I LY S T O R A G E S O L U T I O N S 28
Your operational tool SAM Book your nominations all day long Portal or Edig@s Display your daily rights 2-hour cycles basis Check maintenances Monitor your gas movements Integrate GRTgaz reduction Benefit from Single Nomination Nominate only on SAM (automatic allocation on GRTgaz) 29
One single customer area MyStorengy MY SPACE SUBMIT BIDS MYSTORENGY DETAILLED REPORTS PRODUCT DETAILS e-contract 30
APPENDICE P R O D U C T D E T A I L S 31
SALINE Product Injection Withdrawal Nominal duration 90 19 PRODUCTS D E S I G N T O F I T N E E D S Real duration 153 23 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity Available capacity at 45% of working gas volume 32
SEDIANE NORD Product Injection Withdrawal Nominal duration 80 42 Real duration 95 53 PRODUCTS D E S I G N T O F I T N E E D S 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity Available capacity at 45% of working gas volume 33
SEDIANE B Product Injection Withdrawal PRODUCTS D E S I G N T O F I T N E E D S Nominal duration 120 54 Real duration 120 55 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity Available capacity at 45% of working gas volume 34
SERENE Product (LITTORAL, SUD & NORD) Injection Withdrawal Nominal duration 120 75 Real duration 134 119 PRODUCTS D E S I G N T O F I T N E E D S SEASONAL 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity Available capacity at 45% of working gas volume 35
Working Gas Volume Product Injection Withdrawal Nominal duration PRODUCTS D E S I G N T O F I T N E E D S 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity 36
01/04/2018 01/05/2018 01/06/2018 01/07/2018 01/08/2018 01/09/2018 01/10/2018 01/11/2018 01/12/2018 01/01/2019 01/02/2019 01/03/2019 01/04/2019 01/05/2019 01/06/2019 01/07/2019 01/08/2019 01/09/2019 01/10/2019 01/11/2019 IS 18/19 Product 01/04/18 to 31/10/18 01/11/18 to 31/03/19 01/04/19 to 31/10/19 INJ WDR INJ WDR INJ WDR Nominal 120 60 Real 134 60 PRODUCTS D E S I G N T O F I T N E E D S 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Minimum Storage Level Maximum Storage Level Daily Basic Injection Capacity Daily Basic Withdrawal Capacity 37
CONTACT 38
Contact Commercial Team in France Send us an email access@storengy.com Elsa Decrette +33 1 46 52 31 69 Raynald Duthoy +33 1 46 52 31 90 Emir Zouir +33 1 46 52 36 81 24/7 dispatching dispatching@storengy.com +33 1 46 52 30 67 STORENGY France Immeuble DJINN - 12 rue Raoul Nordling CS 70001-92274 Bois-Colombes Cedex 39