The Inčukalns underground gas storage auction held on February 10, 2026, resulted in the sale of all available capacity, amounting to 1.575 terawatt-hours (TWh), across five storage cycles. Conexus Baltic Grid, the company organizing the auction, indicated that the starting price was set at two euros per megawatt-hour (MWh) but ultimately reached 2.12 euros per MWh by the end of the auction. This successful auction signifies a high demand for gas storage capabilities in Latvia at this moment.

Conexus emphasized that, since the entire five-year capacity product was sold, this would be both the first and last auction of the five-year grouped capacity for the year. However, additional capacity will still be accessible for the 2026/2027 storage cycle through one-year capacity products and interruptible capacity product auctions. The first auction for the one-year product is scheduled for February 26, with a starting price of 2.13 euros per MWh, reflecting continued interest in gas storage amid evolving market conditions.

The strong performance of this auction highlights the essential role of gas storage in ensuring energy security, particularly in the context of growing energy demands and market fluctuations. As countries across Europe adapt to changing energy landscapes, the Inčukalns facility represents a critical asset for Latvia's energy infrastructure, potentially influencing future pricing and availability of energy resources in the region.