THE Announces Gas Storage Neutrality Charge from January 1, 2024

Berlin/Ratingen, 16 November 2023 Trading Hub Europe GmbH (THE) set the neutrality charge under §35e of the Energy Industry Act (EnWG) for the purpose of securing the filling level requirements for gas storage facilities (gas storage neutrality charge) starting from January 1, 2024, at 1.86 EUR/MWh.

Since the enactment of the law, THE has implemented various measures to enhance supply security of supply. These measures notably included SSBO auctions and the filling of various gas storage facilities by THE. Given the costs and revenues incurred to date, as well as the projected ones, the gas storage neutrality charge is set at 1.86 EUR/MWh. The assumption that the corresponding law will be extended as planned until 2027 formed the basis for this calculation. The costs and revenues incurred to date are recorded in accordance with the EnWG regulations in the gas storage neutrality account. The gas storage neutrality account is published on THE's corporate website.

“In the market, we have observed a decrease in gas consumption. Additionally, transit volumes are lower than in the past. This overall leads to a smaller amount eligible for levying, contributing to the increase in the storage neutrality charge," says Torsten Frank, Managing Director of THE.

THE will publish a corresponding basis calculation document until the effective date of the neutrality charge valid from January 1, 2024. This document will provide information on the calculation of the charge and can be found on THE's corporate website.

The next determination of the gas storage levy will take place on July 1, 2024.