Centrica Storage Limited (CSL) has developed a non standard product called I Store. The I Store service entitles a customer to a bundled unit of space, injectability and deliverability. However, the I Store gas year will run from 1st of November to 31st of October (as opposed to 1st of May to 30th of April for the standard SSC product). The fundamental difference is that with an I Store product the injection period is restricted to the winter season, and withdrawal permitted only within summer. Trading of gas in store is allowed with the I Store product.
As the I Store product flows in reverse to typical seasonal storage spreads it provides optionality for customers who wish to add flexibility to their portfolios, and take advantage of attractive spot winter prices and arbitrage with the front summer.
The I Store service will be delivered to and from the NBP, so no entry or exit capacity is required. There will also be no Force Majeure provisions relating to physical site performance with I Store product; and no cancellation or maintenance factors providing customers with certainty over their investments.
- Injection season: injection nominations are from 1st of November to 31st of March each year with nominations to be received by 02:00 before the Gas Day.
- Withdrawal season: withdrawal nominations are from 1st of May to 31st of October with nominations to be received by 02:00 before the Gas Day.
This announcement is for information and illustrative purposes only. Nothing in this announcement shall be legally binding nor shall it constitute any offer capable of acceptance nor shall it constitute any form of promise, representation or warranty as to CSL's intentions, rights or obligations, or otherwise. Any commitment entered into in connection with the subject matter of this announcement shall be governed exclusively by, and shall be subject to, the terms and conditions of the I Store Contract.