Imbalance Settlement and Reconciliation: Experiences with a New Market Process
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1 Imbalance Settlement and Reconciliation: Experiences with a New Market Process Session 5, Sept 21 (10:00-10:30) (deregulation barriers and the impact on energy industry processes) helmut stubenböck () 1
2 What you may expect Definitions (Imbalance Settlement / Reconciliation) The Imbalance Settlement Process: involved parties How to calculate Imbalance Energy How to minimize the risks of imbalanced situations Why Reconciliation? Imbalance Settlement versus Reconciliation Standardized Load Profiles: synthetic versus analytic method helmut stubenböck () 2
3 Imbalance Settlement: Definition (On the basis of ETSO-Settlement Process Implementation Guide v01 ) A central matter of national legal requirements in the electricity market is that each party in the market shall be in balance. This means that the quantity of electricity produced and/or consumed must be equal to the quantity contracted in the market. The procedure to calculate any imbalance by a balance responsible party between what is contracted to/from and what is actually consumed/produced and the invoicing of any differences is called Imbalance Settlement. energy account contracted from actually produced contracted to actually consumed shall be in balance! helmut stubenböck () 3
4 Reconciliation: Definition (Market Rules Imbalance Settlement A&B) Imbalance Settlement is carried out after the end of each month. Minor Costumers are equipped with conventional meters. The manually meter reading doesn t happen monthly metered data aggregates include assumed values. The result of Imbalance Settlement is a payment on account (first step). The actually consumed/produced values of the minor costumers exist a few month later. Few months later, in a second step, Reconciliation takes in account the metered values of all costumers. Moreover Reconciliation takes in account eventual quantity corrections (replacement values, retroactively switching customers, modification of switching dates). The result of Reconciliation is a final account (second step). helmut stubenböck () 4
5 Austrian Overview We are the Imbalance Settlement Responsible (ISR) for the western Austrian Electricity and Natural Gas Market The Austrian Electricity Market was partially liberalized in 1999 based on the negotiated Third Party Access so we started in 1999 with the Balancegroup-Model for a few switched costumers In 2001 the Austrian Electricity Market was completely liberalized based on the regulated Third Party Access 1 Regulator 3 Control Areas with 3 Transmission System Operators (TSO) 2 Imbalance Settlement Responsible Parties (ISR) 150 Distribution System Operators (DSO) We co-designed the market rules and the market processes in Austria, especially for Imbalance Settlement and Reconciliation helmut stubenböck () 5
6 Co-operate in working groups at ETSO and ebix In 2002 we were invited by ebix and ETSO to join two notable workinggroups ETSO-working-group TF14-Settlement ebix-working-group Exchange of Metered Data (EMD) In ETSO-working-group TF14-Settlement the Imbalance Settlement Process is focussed. A first draft of the Document ETSO Settlement Process Implementation Guide v0.1 has already been published. In ebix-working-group EMD focus lies on exchange of metered data and the topic of Reconciliation. A first draft of the document ebix- Business information model for Exchange of Metered data v0.2 has already been published. The Document about ebix: Reconciliation Model Parts is in progress. helmut stubenböck () 6
7 Imbalance Settlement Process: involved Parties According to etso-role-model Market Balance Area Control Area -tasks financially operated Billing Agent Invoicing information Imbalance Settlement Responsible confirmed schedules Price information (Imbalance energy) aggregated metered data bids for control energy Market Operator regulated data Invoice Imbalance energy Imbalancing information System Operator Metered Data Aggregator (Grid Operator) Balance Responsible Party schedules helmut stubenböck () 7
8 How to Calculate Imbalance Energy The Imbalance Settlement Responsible has an account for each Balance Group. On this account the 15-minutes time series for the balancing sheet are collected. The account is split into an incoming side and in an outgoing side and includes the following components: energy account blancegroup xy (15 minutes basis) contracted from ( buy ) contracted to ( sell )... schedules are recieved and collected by the ISR daily actually produced (aggregates) Load profile counted Standardized load profile actually consumed aggregates) Load profile counted Standardized load profile kw or kwh... metered data is recieved and collected by the ISR monthly + Imbalance Energy (sell) - Imbalance Energy (buy) multiply with the Price for Imbalance Energy Settlement (credit) Settlement (debit) EUR Settlement and Reconciliation is done monthly and calculated on a 15 minutes basis. helmut stubenböck () 8
9 How to minimize the risks of imbalanced situations? If the Balance Responsible Party is in imbalance (e.g. he draws imbalance energy and a positive price for imbalance energy assumed), he has to pay a settlement debit. On this account, each balancegroup has to provide a debt security (bank guarantee). The debt security shall hedge the risks of imbalance situations (settlement debit). The Imbalance Settlement is carried out monthly. So we have no actually information of such thinkable situations and risks. Since 2004 on we collect all schedules and determine the Imbalance Energy for each balancegroup daily. Trade Responsible Parties should always be balanced (contracted from = contracted to) Consumption Responsible Parties should have a surplus by the incoming energy. The schedules are recieved, collected and balanced daily, thus we can handle the risks of imbalanced balancegroups better. helmut stubenböck () 9
10 Facit Imbalance Settlement Each party in the market shall be in balance. Hence we calculate any imbalances between energy input and output for each balance responsible party. Imbalance Settlement and Reconciliation is carried out monthly and calculated on a 15 minutes basis. If the balancegroup is in imbalance situations, the balance responsible party has to pay a settlement debit or gets a settlement credit. The balance responsible party has to provide a debt security. The debt security shall hedge the risks of imbalance situations. At the reason of minimizing the risks of settlement debit, the schedules are collected an balanced daily. We call this process Global Position Monitoring. helmut stubenböck () 10
11 Data Sources / Data Providers Grid operator as TSO and DSO supplies aggregated metered data (time series) per Balance Group to the ISR. Additionally they also send the time series of the tie-lines. ISR needs these data to calculate the local player consumption and to control the Imbalance Settlement results. TSO (Transmission System Operator) Minor Costumers (<100MWh p.a. and <50kW) Online Automatic Meter Reading Manual Meter Reading (Tie-) Line Metering Load Profile Metering DSO (Distribution System Operator) Convential Meters Standardized Load Profiles Minor costumers for usually don t have Load Profile Metering. The time series must be generated by using Standardized Load Profiles. helmut stubenböck () 11
12 Why Reconciliation? There are various reasons for Reconciliation. Currently in Austria there are the following: Meter reading in a lot of cases isn t done monthly Minor Costumers are equipped with conventional meters These meter-stands are collected by manually meter reading The manually meter reading normally isn t done monthly For Imbalance Settlement assumed data values are used Majority of Austrian Grid Operators do the manually meter reading yearly. So the metered data values are available up to 12 or 13 month later Post required corrections could be considered (e.g.: replacement values, retroactively switching). Reconciliation in Austria is done 15 month later on the basis of the actually metered data. helmut stubenböck () 12
13 Imbalance Settlement versus Reconciliation 15 month after every month Imbalance Settlement (1) Schedules (buy / sell) Metetered Data Aggregate (Production / Consumption) time series on the basis of load profile metering time series on the basis of of standardized load profile assumed values Data of (1) Data of (1) New! Reconciliation (2) Schedules (buy / sell) Metetered Data Aggregate (Production / Consumption) time series on the basis of load profile metering time series on the basis of of standardized load profile metered (actually) values Imbalance (1) [kwh] Imbalance (2) [kwh] Settlement (1) [EUR] (payment on account) Settlement (2) [EUR] (final account) helmut stubenböck () 13
14 Facit Imbalance Settlement / Reconciliation Imbalance Settlement and Reconciliation in Austria is carried out by the same scheme for all involved roles to ensure higher efficiency. For the Imbalance Settlement Responsible, the Reconciliation-Process is not as extensive as the Imbalance Settlement-Process (only metered data is recieved new). Emphasis in Reconciliation lies on quality process by all involved parties (matching Reconciliation). The conclusion of the Reconciliation is disclosed by the Imbalance Settlement Responsible (matched Reconciliation). After Conclusion the Balance Responsible Party recieves a final account for its imbalance energy. helmut stubenböck () 14
15 Standardized Load Profiles: synthetic - analytic method Basically the supply of minor costumers can occur with the synthetic or the analytic method. Depending on the chosen method, the risks and chances of the retailer are differently devided. The synthetic method simplifies the process of forecasting and scheduling for retailers - the deviation between synthetic load profile an the actually load profile is supported by the grid operator. The analytic profiles are calculated on basic of the overall consumption of all minor costumers (residual load profile). There are different methods possible and thinkable. In Austria the analytic method is in discussion. The adaption of Imbalance Settlement and Reconciliation are earmarked. helmut stubenböck () 15
16 Conclusions Imblance Settlement and Reconciliation are important tasks in liberalized energy markets and include the calculation of the imbalance energy and the determination of the settlement debit and credit. For reasons of independence, there are two separate companies arranged in Austria. The Balance Responsible Parties have to pay a Clearing Fee, based on the total turn over of their energy accounts. These companies are also responsible for managing the risks of imbalance situations of all parties. At the reason of minimizing the risks of settlement debit, we balance all Balance Groups since 2004 daily. Settlement is done monthly. In Austria the suply of minor costumers is occured with synthetic load profiles. The usage of analytic profiles is in discussion and earmarked. helmut stubenböck () 16
17 Thank you for your attention! Ausgleichsenergie & Bilanzgruppen-Management AG Innsbruck / Austria helmut.stubenboeck@.at helmut stubenböck () 17
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