For AggregateEU Participants
AggregateEU is our solution for demand aggregation and collaborative gas tendering within the EU Energy Platform. In 2023, reliable suppliers successfully matched a combined volume of 42.13 billion cubic meters of aggregated European gas demand across four rounds.
AggregateEU: A Success Story
In April 2023, the EU Energy Platform launched the first tendering round via AggregateEU. By leveraging its collective economic weight, the EU managed to attract bids from a total number of 25 supplying companies equivalent to more than 13.4 billion cubic meters of gas (bcm) – surpassing the 11.6 bcm of joint demand that EU companies submitted through PRISMA's AggregateEU mechanism.
PRISMA matched the international suppliers with the European customers, amounting to an overall volume of 10.9 bcm. This covers 8.7 bcm of gas via pipeline and 2.2 bcm of LNG.
Afterwards, EU companies were able to negotiate the terms of the supply contracts directly with the supplying companies, with no involvement of the Commission.
Vice-President Maroš Šefčovič said: "The EU Energy Platform has had a remarkable success despite being very new. It clearly shows the need for such a market place, leveraging the EU's collective economic weight to increase our energy security and tackle high gas prices. The Commission has played its role as aggregator and matchmaker, and now it is for the respective parties to conclude their agreements. It is a win-win for European customers and for international suppliers." Watch the press briefing.
This exercise supported the EU countries' efforts to meet their gas storage obligations for the winter while strengthening the collective energy security at competitive prices. Further tenders followed every two months until the end of the year.
In December 2023, the European Union established the legal framework allowing PRISMA to operate AggregateEU for another year. You can read the full success story here.
Image: © European_Commission, 2023
Results of past rounds
Aggregated Demand: 11.6 billion cubic meters
Supplier Bids: 18.7 billion cubic meters
Matched Demand: 10.9 billion cubic meter
Aggregated Demand: 15.92 billion cubic meters
Supplier Bids: 15.19 billion cubic meters
Marched Demand: 11.98 billion cubic meters
Aggregated Demand: 16.49 billion cubic meters
Supplier Bids: 18.1 billion cubic meters
Matched Demand: 11.86 billion cubic meter
Aggregated Demand: 10.06 billion cubic meters
Attracted Supplies: 9.13 billion cubic meters
Matched Demand: 7.35 billion cubic meter
The Mid-Term Tender
In 2024, PRISMA and the EU Commission introduced the Mid-Term Tenders to address the growing demand for stability and predictability among participants.
Purpose of Mid-Term Tenders
- Mid-Term Tenders enable industrial consumers to explore additional trading options under a pseudonym, attracting buyers purely based on demand profiles.
- These tenders help sellers identify buyers interested in longer trading partnerships, potentially lasting up to five years.
About Mid-Term Tenders via AggregateEU
Mid-Term Tenders allow participants to submit demands for six-month periods: Summer (April 1st to September 30th) and Winter (October 1st to March 31st). The earliest delivery is anticipated for Summer 2024, with the last delivery in Summer 2029.
Buyers can submit their demands for up to five years, or ten consecutive six-month periods, with each demand meeting the minimum stipulated quantity for the relevant product: LNG (1,800,000 MWh) or NBP (30,000 MWh).
Each demand at a specific location for a particular period will be published as a separate tender, allowing sellers to express their interest in selling to individual buyers based on the total demand. To ensure fairness, buyers will be displayed to sellers under a pseudonym.
Results
The first Mid-Term Tender on AggregateEU occurred in February 2024. Maroš Šefčovič, Vice-President of the European Commission stated: "Altogether, 19 companies – including industrial consumers – have submitted requests for a total volume of almost 34 billion cubic metres of gas. LNG demand represents over 15.3 bcm, while more than 18.3 bcm is requested for delivery via pipeline. This clearly shows that the joint purchase of gas is going from strength to strength."
What our Customers are saying
Markus Schnier | CEO ecotec
"We were immediately impressed by PRISMA's highly professional and customer-oriented service. A big thank you goes to Christin Hofmann and her colleagues.
We were under significant time pressure when our first customer joined the platform. PRISMA helped us as much as possible to successfully complete the necessary administrative steps. This is not something to be taken for granted in these times of increasing service shortages."
Stay up to date!
Subscribe to PRISMA's AggregateEU Updates! Our newsletter will keep you up to date about the latest developments and upcoming projects regarding AggregateEU.
More than another Trading Hub
AggregateEU has been developed for the EU Energy Platform, which aims to pool the gas demand in Europe to secure the energy supply. AggregateEU is a mechanism designed to match buyers and sellers of natural gas and LNG via the PRISMA platform while ensuring equal treatment and preventing market manipulation.
With AggregateEU we created a new opportunity to procure gas in addition to existing marketplaces or practices. It brings additional value to the market participants with demand aggregation, increased transparency and new forms of cooperation. This brings particular benefit for, but is not limited to, smaller companies or those in landlocked countries, from demand aggregation – given the size of their demand or their lack of experience in contracting LNG.
Further, AggregateEU enables demand aggregation by individual companies or by groups of companies via the establishment of cooperation models such as central buyers and agents on behalf.
AggregateEU organises tendering rounds every two months. Participating in an AggregateEU tendering round (i.e. per month, per location) will involve four steps:
- Demand aggregation and tendering
- Matching between buyers and sellers
- Contracting (outside the platform)
- Procurement transparency
On the demand side, companies established in the EU or in the Energy Community countries can take part in demand aggregation and joint purchasing of gas, either alone or through a central buyer.
On the seller's side, both EU and non-EU companies will be able to participate.
Companies will have to follow a two-step process to participate in AggregateEU. First, they will need to register with PRISMA. Second, they will need to subscribe to AggregateEU. We explain both processes in detail in the linked articles in our AggregateEU Hub. In it, we also explain all phases of a tendering process in detail and all the requirements for participating in AggregateEU.
If you have any further questions, you can find an extensive list of questions and answers on the EU Commission's website.
Furthermore, you can contact our customer success team. We look forward to helping you.
Customer Success
Do you need more information about our services? We have a team of experts constantly working to gain the best understanding of your needs, please do not hesitate to contact us.
What we do
PRISMA operates Europe’s leading gas capacity trading platform. With the ability to serve a high number of TSO and SSO backend systems, PRISMA provides a single platform through which TSOs, SSOs and shippers may market gas capacity at both primary and secondary market levels.
