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SK-HU Interconnector: New binding phase of the Open Season procedure with amended terms and conditions

FGSZ Ltd. and Eustream a.s. re-launch the Open Season procedure to offer for sale the capacity of the pipeline interconnecting the Hungarian and the Slovak high pressure transmission grids.

The capacity utility right of the pipeline can be purchased by the interested market players before the construction of the pipeline in the framework of the Open Season procedure. The final investment decision will be made by the TSOs after the binding bids are evaluated. The previous procedure completed in the first half of this year fell short of our expectations. The two TSOs have held intensive bilateral consultations as a result of which numerous terms of the project have been amended. The technical parameters of the interconnector remained unchanged, but with respect to the lot duration or the financial conditions e.g. more flexible terms are offered this time. We expect that conditions more favourable for the bidders will attract an increased interest of the market. Bidders have he possibility to submit their bids between 15 October and 8 December 2010. Eustream a.s. and FGSZ Ltd. will evaluate the received bids till Christmas and publish the results accordingly. The interconnector is projected to be put into operation in early 2014.

The new binding phase of the Open season procedure is open to those companies who have already registered for the previous phase as well as to newcomers who show interest in the capacity of the SK-HU Interconnector.

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