Introduction to Power Exchanges
|
|
- Moris Austin
- 6 years ago
- Views:
Transcription
1 For Public Use Introduction to Power Exchanges Presented by: Mr. S.K. Ray on behalf of IEX
2 In this presentation Introduction to Indian Power Markets Power Exchange functioning and Market Snapshot International Experience for Cross Border Trade Cross Border trade through Exchange: SAARC Region
3 India Power Sector Key Market Segments Long Term Up to 25 years OTC: Intraday to 1 year 11,07,820 MU Short Term Exchanges: Intraday 11 days Real Time 992,590 MU 59,473 MU 35,010 MU 20,754 MU 89.6% 5.4% 3.2% 1.9% Long-term Power Purchase Agreements (PPA) Over the Counter Bilateral Trade Agreements (OTC) Effected by Licensed traders Exchanges (Only up to 11 days) Day Ahead Contingency Daily Weekly Day Ahead Market Unscheduled Interchange Short Term Power market is at ~10%, Power Exchange volume in the segment have been growing significantly Source: CERC MMC Report All values for FY16
4 About IEX Inception in June 2008 Established under the Regulatory oversight of Central Electricity Regulatory Commission (CERC) Transparent market platform that facilitates delivery based trading Electronic, on-line bidding Standardised Contracts Flexible trading with separate price discovery for 96 time-blocks of 15 min in a day for Day-Ahead Market No Financial products such as Derivatives and Forward contracts Worldwide, Power Exchanges (40+) trade power are most common platform to
5 Company Snapshot Average daily trade: 4500 MW (>100 MUs) High Participation: Industries I 50+ Discoms (all) I 350+ Generators Transparency Liquidity Competition
6 IEX Market Segments Delivery-based Contracts Day-Ahead Market since June,08 Delivery for next day Price discovery: Closed, Double-sided Auction Intraday Market & Day- Ahead Contingency Round the clock since Jul 15 Term-Ahead Contracts since Sep,09 Renewable Energy Certificates since Feb,11 Energy Saving Certificates Intraday: For Delivery within the same day Day Ahead Contingency: Another window for next day Gate closure : 4 hours For delivery up to 11 days Daily Contracts, Weekly Contracts Green Attributes as Certificates Sellers : RE generators not under feed in tariffs Buyers: Obligated entities; 1MWh equivalent to 1 REC Expected soon In India, all electricity contracts at the Exchange are for physical delivery No derivatives or contracts with delivery over 11 days available
7 Features of Day Ahead Market Physical delivery based market A closed double-sided anonymous auction for each 15-min time block for the following day Highly flexible: Bid for any single/combination of time block Intersection of aggregated sale and purchase curves defines Market Clearing Price (MCP) 12 Bid area defined for congestion ATC across bid areas determined by NLDC /RLDCs Market splitting determines Area Clearing Price (ACP) specific to an area (available at Delivery/ Settlement /All Open Access Charges thru IEX
8 DAM trading process Bidding Matching Review corridor and funds availability Result Confirmation Scheduling 10:00 am to 12:00 pm 12:00 pm to 1:00 pm 1:00 pm to 2:00 pm 3:00 pm 5:30 pm 6:00 pm Bids for 15- min each or block bids can be placed MCP & MCV calculated Corridor availability and funds verified Final ACV and ACP calculated. Market split if congestion Collective transaction confirmation by NLDC Final Schedule sent to RLDC for incorporation
9 Matching: Model Price Calculation algorithm (Example for a sample 15-min- single bids) Price Tick Portfolio A Portfolio B Portfolio C Portfolio D Portfolio E Portfolio F Total Buy, MW Total Sell, MW Net Transaction, MW MCP: Rs Demand (Buy) Supply (Sell) MCV: 120 MW
10 Volume (BU) Price (Rs./kWh) Price and Volume: Bilateral vs. IEX DAM IEX Volume Trader Volume IEX Price Bilateral Price FY10-11 FY11-12 FY12-13 FY13-14 FY14-15 FY15-16 Prices at the Exchange always remained lower than Bilateral Contracts Source: CERC MMC Reports 1-1
11 Avg Hourly Volume (MW) High Liquidity in Volume at IEX (Avg. Hourly Volume in MW) 1, *Data upto Dec 31, ,334 1, ,919 2,371 1,347 2,842 2,539 1,571 4,456 3,956 2,554 4,737 5,741 3,302 4,942 4,689 3,212 4,907 6,434 3,878 5,450 8,810 4,592 MCP (Rs/kWh) Purchase Bid (MW) Sell Bid (MW) Cleared Volume (MW) IEX Wt. Avg Price (Rs/kWh) 10, , , , , , ,000 3,000 2, , * 0.00
12 15 min wise Price trend of a typical day in December 16 (22 nd Dec 16) Daily Average Clearing Price for December
13 Daily Average Market Clearing Price for the month Dec Daily Average Clearing Price for December
14 Data as on 31 Dec 2016 Monthly Price Trend FY FY FY Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
15 IEX prices on Vidyut Pravah
16 HHI Index for Market Concentration (BUYERS) HHI Index Inference Below 0.01 Highly competitive market Below 0.15 Un-concentrated market Between 0.15 to 0.25 Market with moderate concentration Above 0.25 Market with high concentration
17 HHI Index for Market Concentration (SELLERS) HHI Index below 0.01 below 0.15 between 0.15 to 0.25 above 0.25 Inference Highly competitive market Un-concentrated market Market with moderate concentration Market with high concentration
18 Avg Price (Rs/kWh) Region-Wise Price Trend South (S1) North (N2) RoI (W2)
19 TAM Market Segments Open Auction Continuous Continuous Continuous
20 Contract Characteristics TERM AHEAD MARKET Contract Characteristic Day Ahead Market Intraday Contracts Day Ahead Contingency Daily Contracts Weekly Contracts Delivery Next day Hrs same day For next day From 4 th day to next 7 days For next week Auction Type Closed Auction Continuous trading Continuous trading Continuous trading Open Auction Contracts 15 min Hourly Hourly Block of Hours (Fixed) Block of Hours (Fixed) Trade Availability All Days All days All Days; All Days; Wed & Thurs; Financial Settlement Pay-In- D-1; Pay Out D+1 Pay in: T+1 Pay out: T+1 Pay in: T+1 Pay out: T+2 Pay-In- D-1; Pay Out D+1 Pay-In- D-1; Pay Out D+1 T = Trade D = Delivery
21 Price and Volume trend in TAM
22 International Experience
23 Enhancing efficiency through PXs: Market Coupling in EU Countries Market Coupling is linking separate day-ahead markets using cross-border transmission capacities. It is conceptually similar to market-splitting being used internally for Day-ahead markets in India. Features are: Conducted as an implicit auction : transmission capacity allocation is integrated with the energy market ( explicit auctions sell capacity separately) Price differences between each spot market are minimised, with convergence at times when there is sufficient capacity Capacity usage is optimized Perfect Market arbitrage Integrated market Since 2015: North-West & South-West Europe coupled 19 Countries 75 % of Europe s energy 3000 BUs Consumption PA
24 European Market Coupling Benefits
25
26
27
28 Key Developments in the Integration of European Market
29 Intraday Target Model for EU
30 Why Exchange for cross border trade Competitive & Vibrant Markets Transparent and neutral platform Price discovery trusted and reliable Double-sided bidding best price discovery tool Implicit Auction: Transmission management
31 Cross Border trade through Indian Power Exchange
32 Cross Border Trade through Exchange Guidelines issued by Ministry of Power: 5 th December 2016, allows cross border trade through power exchanges under the Term Ahead market contracts: Intraday, Day-Ahead Contingency, Daily and Weekly contracts 7.0 TRADE THROUGH INDIAN POWER EXCHANGES: 7.1 Any Participating entity, with approval from the Designated Authority under para 5.2.1, after complying with the relevant regulations of CERC, shall be eligible for cross border trade of electricity through Indian Power Exchanges under the categories of Term Ahead Contracts, Intra Day Contracts/ Contingency Contracts as defined in the Power Market Regulations of CERC. Provided that other entities shall be eligible to participate in the Indian Power Exchanges through the eligible licensees under the aforesaid Regulations of CERC. 7.2 Further, the quantum of electricity that can be traded under cross border trade for electricity in Indian Power Exchanges shall be prescribed from time to time by the Designated Authority. 7.3 Cross border trade of electricity can be extended to other categories of contracts based on review by Ministry of Power in consultation with CERC. Two key functions as prescribed by MoP for CEA as designated authority for the CBT through Power Exchange: Accord of approval for Participating Entity(ies) for cross border trade between India and the neighboring country and/or through Indian Power Exchanges. Notifying the quantum of electricity from time to time that can be traded under Cross Border Trade for Electricity through Indian Power Exchanges The Designated Authority will frame its own rules for Conduct of Business (CBR) for facilitating the process of approval and laying down the procedure for Cross Border Trade of Electricity between India and neighbouring countries and other related matters.
33 Next steps to operationalize Cross Border Trade through Exchange CERC to notify Regulations for Cross Border Trade CEA to formulate CBR (Conduct of Business Rules) IEX to file for approval for changes in Business Rules or TAM contract specs, if required, in line with CERC regulations
34 Proposed Operational Mechanism 1. A Designated Trading Licensee to facilitate transaction/ Direct participation by Cross border entity (CBPE) 2. If trading through Indian Trading Licensee, TL to Register Cross-border Nodal entity as client Client shall be signatory of Member-Client Agreement Bidding on behalf of Cross-border agency Financial Settlement 3. Delivery Point: Delivery point for all cross border transactions to be the Indian Periphery, the point of connection with the Indian Grid. 4. NLDC to provide interconnector-specific cross border capacity
35 Proposed Operational Mechanism 5. Financial Settlement through Indian Trading Licensee (TL)/ directly by CBPE As per Exchange Timelines Trading Licensee to settle with CBPE as per their agreement 6. Transmission Curtailment In accordance with Open Access Regulations as done for the current participants 7. Deviation settlement through Indian Trading Licensee Deviation settlement as per Indian Laws or as agreed for bilateral contracts 8. Others Trading Licensee to abide by the rules, bye-laws of the Exchange. All charges relating to Exchange payable by CBTE/TL Indian Currency for bidding and financial settlement at Exchange Indian Standard Time to be followed for 15-min block wise transactions.
36 Thank You Follow Use IEX Mobile Application to track prices Register for Daily SMS alerts Register for IEX Monthly Bulletin
37 Evolution of Internal Energy Market ( IEM ) in Europe Goal Electricity should flow between member states as easily as it currently flows within them Obstacle : Historically, markets were vertically integrated on a (+/-) national basis, whereas cross-border interconnectors have been less developed Congestion on cross border interconnections Building new transport capacity is costly and extremely slow Long term structural solution : increase of capacity or new interconnectors incentivize appropriate locations for new generation units On short term, with low cost impact : Allocate/Use scarce transmission capacity via market-based mechanisms
38 Evolution of liberalization in EU Internal Electricity Market 1st package Internal Electricity Market (1996) Freedom to choose supplier. Consumer >100 GWh/Y eligible as from Free Generation Transmission : natural monopoly ( Chinese wall ) Choice between NTPA and RTPA 2nd package (2003) State responsibility to ensure sufficient generation capacity Legal unbundling between TSO & DSO Mandatory RTPA Mandatory regulator Full market opening: latest Market based capacity allocation 3rd package (2009) Ownership unbundling (OU) or Independent SO (ISO+) or Independent Trans Oper(ITO) TSOs enhanced regional cooperation ENTSO - Energy Networks of TSOs Harmonisation & enhanced regulatory competences ACER ( European agency regulators) EU network codes
39 Capacity utilisation in Explicit Auction Markets
40 Capacity utilisation in case of implicit auction
41 Evolution of Market Coupling in EU 2006 Trilateral market Coupling 2010 CWE Pentalateral Market Coupling 2010 InterimTight Volume Coupling The evolution of the concept started with Nordpool and adopted in Central Europe through TLC by France, Belgium and Netherland BritNed coupling 2014 North West Europe (NWE) M.C. Based on PCR infrastructure Other established regions: Italy/Slovenia project to integrate with PCR Trilateral Cz-Slo-Hun 2014 Iberia joins NWE Success of TLC encouraged EU to make regulations in 2009 for larger coupling of regions now also known as PCR(Price Coupling of Regions) and MRC(Multi Region Coupling).
42 MoP Guidelines (Para 5.2.1) Considering that electricity trade shall be involving issues of strategic, national and economic importance, participating entities (Participating Entity(ies)) complying with following conditions shall be eligible to participate in cross border trade of electricity after obtaining one-time approval from the Designated Authority: a) Import of electricity by Indian entities from Generation projects located outside India and owned or funded by Government of India or by Indian Public Sector Units or by private companies with 51% or more Indian entity (entities) ownership; b) Import of electricity by Indian entities from projects having 100% equity by Indian entity and/ or the Government / Government owned or controlled company(ies) of neighbouring country. c) Import of electricity by Indian entities from licenced traders of neighbouring countries having more than 51% Indian entity(ies) ownership, from the sources as indicated in para (a) and 5.2.1(b) above. d) Export of electricity by distribution licensees / Public Sector Undertakings (PSUs), if surplus capacity is available and certified by the concerned distribution licensee or the PSU as the case may be.
Indian Power Market: An Overview JULY 2018
Indian Power Market: An Overview JULY 2018 For Public Use 1 In this presentation Introduction to Indian Power Market Product Portfolio Trading Mechanism Market snapshot Participation Volume Price Trade
More informationElectricity Market. August 18
Electricity Market August 18 In this presentation Introduction to Indian Power Market Product Portfolio Trading Mechanism Market snapshot Participation Volume Price Trade @ IEX Capacity (GW) Installed
More informationElectricity Market. July 15.
Electricity Market Email: info@iexindia.com July 15 www.iexindia.com In this presentation Introduction to Indian Power Market Product Portfolio Trading Mechanism Market Snapshot Participation Volume Price
More informationTrading at Power Exchange - IEX
Trading at Power Exchange - IEX February 2016 Prasanna Rao Market Operations In this presentation Product Portfolio Trading Mechanism & Process Flow- Day-Ahead Market Trading Mechanism-Term-Ahead Market
More informationKey Processes in Power Exchange Presented By: Prasanna Rao Shalabh Shrivastava
Key Processes in Power Exchange Presented By: Prasanna Rao Shalabh Shrivastava www.iexindia.com Day Ahead Market-Collective Transaction Features A closed double-sided anonymous auction for each 15-min
More informationREC Market. Business Development March 14
REC Market Business Development Email: info@iexindia.com March 14 In this presentation Renewable Energy in India Introduction to REC Mechanism Market snapshot Voluntary REC Market Trading @ IEX Installed
More informationGreen Day Ahead Market (Petition no. 187/MP/2016) CERC Hearing I December 1, 2016
Green Day Ahead Market (Petition no. 187/MP/2016) CERC Hearing I December 1, 2016 Brief Introduction IEX since last 8 years has been successfully operating markets in: Day Ahead Market (DAM) [based on
More informationThe Road to the I-SEM
The Road to the I-SEM 1 Agenda Development of power markets in Ireland and Northern Ireland Development of power markets across Europe Market coupling explained The road to the I-SEM The elements of the
More informationCross Border Electricity Trade
Cross Border Electricity Trade Afghanistan Pakistan Nepal Bhutan India First meeting of core team on South Asian Regional Power Exchange (SARPEX) Bangladesh 7 th - 9 th February, 2017 New Delhi, India
More informationPower Market, Power Trading and Power Exchange
Power Market, Power Trading and Power Exchange National Seminar Challenges & Opportunities in Power Generation, Transmission & Distribution 23-03-12 Power System Operation Corporation Ltd. Eastern Regional
More informationTrading of ESCerts on IEX
Trading of ESCerts on IEX Akhilesh Awasthy Director (Market Operations) Workshop by BEE on ESCerts Trading and PATNet Portal 16 th Dec 2015, IIC New Delhi Company Snapshot 96% Market Share ~80,000MWh average
More informationNo. 14/1/2016-Trans Government of India Ministry of Power. Office Memorandum
No. 14/1/2016-Trans Government of India Ministry of Power Shram Shakti Bhawan, Rafi Marg, New Delhi, dated s" December, 2016 Office Memorandum Subject: Guidelines on Cross Border Trade of Electricity At
More informationQuick Guide to the Integrated Single Electricity Market. Version 1
Quick Guide to the Integrated Single Electricity Market Version 1 1 Contents 1. What is the I-SEM? 2. Market coupling 3. Administration 4. Markets 5. Participation and roles 6. Trading options 7. Settlement
More informationWholesale power market challenges:
EU Electricity Market Reform Seminar Dublin 13 March 2013 Wholesale power market challenges: from simplicity and efficiency to complexity and regulation Peter Styles European Federation of Energy Traders
More informationKey Considerations for Running Mock. Exercise
Key Considerations for Running Mock Afghanistan Exercise Pakistan Nepal Bhutan Presented by: Yasir Altaf,, Associate director, KPMG India Bangladesh Maldives... Sri Lanka Combined meeting of TF-2 and TF-3,
More informationPower Procurement Strategy
Power Procurement Strategy 01.03.16 IIT-Kanpur For Public Use POWER SECTOR OVERVIEW Source: Executive Summary of October 2015, CEA *including renewable generation Installed Capacity (All) Category Installed
More informationEuropean Market Desing and focus on Flow-Based Market Coupling
European Market Desing and focus on Flow-Based Market Coupling AGENDA 1. Introduction a. Electricity sector restructuring in Europe b. Electricity market design in Europe c. Transmission Capacity Allocation
More informationREC Genesis: Separating green attribute from electricity
Renewable Power Purchase Obligation and REC Trading in India Devesh Singh Regional Head (SR) Email: devesh.singh@iexindia.com Oct 14 Schemes to promote RE in the country Mid 1990s Focused on capacity addition
More informationMarket integration: the Dutch- Belgian French market and beyond
Market integration: the Dutch- Belgian French market and beyond 7th Cambridge MIT electricity policy conference London, 28 September 2007 Bert den Ouden, CEO, APX Group b.denouden@apxgroup.com Agenda Introduction
More informationINTRODUCTION TO HUPX GROUP. Minta szöveg minta Minta
INTRODUCTION TO HUPX GROUP Minta szöveg minta Minta MILESTONES HUDEX CEEGEX WD HUPX DAM 2010 Jul HUPX PHF 2011 Jul CZ-SK-HU MC Go- live 2012 Sep CEEGEX 2013 Jan 4M MC Go- live 2014 Nov HUPX IDM 2016 March
More informationProcedure for Scheduling
Short-Term Open Access in Inter-State Transmission (Bilateral Transaction) Procedure for Scheduling (As per CERC Open Access Regulations, 2008 (dated 25.01.2008) & subsequent (Amendment) Regulations, 2009
More informationearning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom
earning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom MONTHLY MARKET REPORT OCTOBER 16 Day-Ahead Market - ober 16 Number of registered
More informationThe role of the spot market in successful demand side management. James Matthys-Donnadieu Brussels,
The role of the spot market in successful demand side management James Matthys-Donnadieu Brussels, 10-06-2013 APX Group today 3 power spot markets operated in the Netherlands, UK and Belgium 86 TWh traded
More informationSARPEX Mock Exercise Day Ahead Market ( DAM) in the South Asian Region
SARPEX Mock Exercise Day Ahead Market ( DAM) in the South Asian Region Afghanistan Pakistan Nepal Bhutan India Presented by: Bangladesh Mr. S.K. Ray, Technical Specialist, SARI/EI, IRADe Mr. Gaurav Jain,
More informationElectric Power Exchanges: A Review
16th NATIONAL POWER SYSTEMS CONFERENCE, 15th-17th DECEMBER, 2010 115 Electric Power Exchanges: A Review Yogesh K. Bichpuriya Department of Electrical Engineering Indian Institute of Technology Bombay Mumbai,
More informationThe Nordic Market Model 10 Years of Experience
The Nordic Market Model 10 Years of Experience 7 th International Workshop on Electric Power Control Centers Ortisei, Italy May 25-28, 2003 Presentation by Ole Gjerde Senior Adviser, Statnett SF 1 Contents
More informationElectricity Exchange set-up and Market Coupling Arrangements. Drs. B. den Ouden lecture for IEX, Amsterdam, 14 July 2014
Electricity Exchange set-up and Market Coupling Arrangements Drs. B. den Ouden lecture for IEX, Amsterdam, 14 July 2014 former CEO APX-ENDEX 1999-2013 Managing Director Berenschot Energy&Sustainability
More informationDeveloping the internal energy market further - the European Network Codes
Developing the internal energy market further - the European Network Codes E-Control Fachtagung "Netzkodizes Hintergrund und Auswirkungen" Wien 28.11.2016 Matti Supponen DG ENER unit B2: Wholesale markets
More informationRole of Derivatives in Indian Power Market. Akhilesh Awasthy Director (Market Operations)
Role of Derivatives in Indian Power Market Akhilesh Awasthy Director (Market Operations) In this presentation Fundamentals of Markets Electricity Market Indian Electricity Market Derivative Market i. Markets
More informationPresent: Philippe de LADOUCETTE, Chairman, Olivier CHALLAN BELVAL, Hélène GASSIN, Jean-Pierre SOTURA and Michel THIOLLIERE, Commissioners.
Deliberation Deliberation of the French Energy Regulatory Commission (CRE) dated 2 October 2013 approving the implicit Day-Ahead allocation method for interconnection capacity within the North- West Europe
More informationCurrent State of Intraday Markets in Europe May 2007
Current State of Intraday Markets in Europe May 2007 ETSO Report: Current State of Intraday Markets in Europe Page 1 of 18 Contents 1. Introduction... 3 1.1 Objective and scope of this report... 3 2. Intraday
More informationThe importance of organized markets for trading in SEE. Ludek Horn Chairman EFET TF CEE-E. European Federation of Energy Traders
The importance of organized markets for trading in SEE European Federation of Energy Traders Workshop CROATIAN POWER EXCHANGE Zagreb, October 29, 2015 Ludek Horn Chairman EFET TF CEE-E Ludek Horn Zagreb,
More informationIntraday Implicit Cross- Border allocation on BE-FR border. Description of the allocation mechanism
Intraday Implicit Cross- Border allocation on BE-FR border Description of the allocation mechanism Version Date 11 July 2016 Contents 1 Introduction...3 2 General Context and rationale of the project...3
More informationMARKET SEGMENT PROCEDURE
MARKET SEGMENT PROCEDURE Purpose of the Market Segment Procedure The Market Segment Procedure is a Market Procedure, Appendix to the Participation Agreement that contains a detailed description of the
More information(Collective Transaction) Procedure for Scheduling
Annexure-II Short-Term Open Access in Inter-State Transmission (Collective Transaction) Procedure for Scheduling [As per CERC Open Access Regulations, 2008 (dated 25.01.2008) & subsequent (Amendment) Regulations,
More informationIntraday Implicit CrossBorder allocation on BE-NL. and borders (Interim Implicit Cross Border Intraday BE-NL. Description of the allocation mechanism
Intraday Implicit CrossBorder allocation on BE-NL and borders (Interim Implicit Cross Border Intraday BE-NL Description of the allocation mechanism version 2.0) Description of the allocation mechanism
More informationEvolution of Power Exchange. S. C. Saxena National Load Despatch Center Power System Operation Corporation Ltd.
Evolution of Power Exchange S. C. Saxena National Load Despatch Center Power System Operation Corporation Ltd. Market Design Four Pillars of Market Design ELECTRICITY MARKET SCHEDULING & DISPATCH CONGESTION
More informationCHARGING METHODOLOGY STATEMENT FOR THE ELECLINK INTERCONNECTOR
CHARGING METHODOLOGY STATEMENT FOR THE ELECLINK INTERCONNECTOR ISSUE 1.0 1 Contents 1. Introduction... 3 2. Interconnector charging methodology... 3 2.1 Introduction... 3 2.2 Objectives of the Charging
More informationICIS Energy Forum. Power and Carbon Markets. 1
ICIS Energy Forum Power and Carbon Markets www.icis.com 1 Germany-Austria bidding zone split market impact? Irina Peltegova Editor EDEM +44 207 911 1975 irina.peltegova@icis.com Germany-Austria bidding
More informationDevelopment of Power Markets and Market Monitoring
Department of Industrial and Management Engineering Indian Institute of Technology Kanpur 3 rd Capacity Building Programme for Officers of Electricity Regulatory Commissions 23 28 August, 2010 Development
More informationENERGY COMMODITIES C O N F E R E N C E
ENERGY COMMODITIES C O N F E R E N C E 2 0 1 8 Thursday May10th gazarte Live, Athens Greek Electricity Market : Current status and transition to the EU Target Model Dr. Christoforos Zoumas Director, Electricity
More informationThe market setup in the Baltics explanation with examples
The market setup in the Baltics explanation with examples Table of Contents The market setup in the Nordic-... 3 Baltic exchange area... 3 Daily routines at Nord Pool... 4 Price calculation principles...
More informationPrague, 25/09/ M Market Coupling
Prague, 25/09/2014 4M Market Coupling Agenda I. Czech-Slovak-Hungarian-Romanian Common Parts 1. Market Coupling Theory and Practice 2. Where do we come from 3. Operational overview 4. Detailed Procedures
More informationRegulatory framework for crossborder redispatching and countertrading
Regulatory framework for crossborder redispatching and countertrading Joint Task Force ACER ENTSO-E 1 OUTLINE The need for an efficient and coordinated redispatch measures framework Current situation:
More informationPower Trading in the Coupled European Markets
Power Trading in the Coupled European Markets Challenges for policy-makers February 2016-1 - Europe Economics is registered in England No. 3477100. Registered offices at Chancery House, 53-64 Chancery
More informationIntraday Cross Border The Netherlands-Belgium
Intraday Cross Border The Netherlands-Belgium Content 1. Overall design 1. Process description 2. Capacity calculation 3. Elbas trading platform 4. Tradable products 5. Timeline & Nominations 2. Contractual
More information1.1 These regulations shall extend to whole of the State of Punjab.
THE PUNJAB STATE ELECTRICITY REGULATORY COMMISSION NOTIFICATION The, 2018 No.PSERC/Secy/Regu. - In exercise of the powers conferred under Section 181of the Electricity Act, 2003 (36 of 2003), and all other
More informationCROSS BORDER CAPACITY ALLOCATION FOR THE EXCHANGE OF ANCILLARY SERVICES
CROSS BORDER CAPACITY ALLOCATION FOR THE EXCHANGE OF ANCILLARY SERVICES A POSITION PAPER BY THE ENTSO-E ANCILLARY SERVICES WORKING GROUP JANUARY 2012 Purpose & objectives of the paper This paper further
More informationAPX Power NL Market Instrument Specifications
APX Power NL Market Instrument Specifications APX Power B.V. Atlas Arena Amsterdam Australia Building, 3 rd floor Hoogoorddreef 7 1101 BA Amsterdam The Netherlands T +31 (0)20 305 4000 F +31 (0)20 305
More informationTSOs perspective of the CACM requirements. Athanasios Troupakis Market Advisor ENTSO-E
TSOs perspective of the CACM requirements Athanasios Troupakis Market Advisor ENTSO-E Energy Community Secretariat Energy Community Secretariat Table of contents 1. Introductory remarks 2. Elements of
More informationearning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom
earning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom MONTHLY MARKET REPORT APRIL 218 Day-Ahead Market - il 218 Number of registered
More informationResponse to ENTSOE public consultation. Network Code on Capacity Allocation and Congestion Management for. Electricity
Response to ENTSOE public consultation On Network Code on Capacity Allocation and Congestion Management for Electricity 23 May 2012 EUROPEX Rue Montoyer 31 Bte 9 BE-1000 Brussels T. : +32 2 512 34 10 E.:
More informationThe new electricity market arrangements in Ukraine
The new electricity market arrangements in Ukraine A report prepared by ECS Project Office April 2016 FINAL DRAFT Revisions Table Version Date Description FINAL DRAFT 1.0 November16, 2015 Internal Draft
More information20 years operation of the Nordic electricity market
ENERGY 20 years operation of the Nordic electricity market ADB Regional Energy Trade Workshop September 8-9, 2014 Manila Dr. Per Christer Lund 1 SAFER, SMARTER, GREENER Electricity market world wide 2
More informationKostis Sakellaris Regulatory Authority for Energy, Greece. 5 th South East Europe Energy Dialogue 2-3 June 2011, Thessaloniki, Greece
Kostis Sakellaris Regulatory Authority for Energy, Greece I. Background II. SEE Wholesale Market Opening Study III. Regional Action Plan IV. Conclusions Energy Community Treaty (2005) Scope: development
More informationASX Plans to Support and Service the Carbon Pollution Reduction Scheme. Anthony Collins General Manager, Energy & Environment
ASX Plans to Support and Service the Carbon Pollution Reduction Scheme Anthony Collins General Manager, Energy & Environment Outline The Role of Financial Markets Likely Market Evolution Emissions Trading
More informationPORTFOLIO OPTIMIZATION FOR OPEN ACCESS CONSUMERS/DISCOMS
PORTFOLIO OPTIMIZATION FOR OPEN ACCESS CONSUMERS/DISCOMS By Dr. PARUL MATHURIA POST DOCTORAL FELLOW DEPARTMENT OF INDUSTRIAL AND MANAGEMENT ENGINEERING INDIAN INSTITUTE OF TECHNOLOGY KANPUR 2017 15-05-2017
More informationWholesale Electricity Market Monitoring Report for the Energy Community Contracting Parties and Georgia
Wholesale Electricity Market Monitoring Report for the Energy Community Contracting Parties and Georgia Reporting Period 2014 Publication date April 2016 Contents Contents... 1 List of Tables... 2 List
More informationTRADING ON SEEPEX. Energy will belong to everyone.
TRADING ON SEEPEX Energy will belong to everyone. What SEEPEX does? SEEPEX is the spot power exchange in South East Europe. Founded in 2015, it serves its customers with secure trading platform, best clearing
More informationPossible market model for crossborder intraday trading
Possible market model for crossborder intraday trading Belpex Users Group 29 January 2008 Linking partners in power Context Intraday trading is becoming increasingly important Within CWE region several
More informationTraders perspective on the World Bank Report for development of the Bulgarian power market. En.Trading 017 Seminar Sofia, Bulgaria
Traders perspective on the World Bank Report for development of the Bulgarian power market En.Trading 017 Seminar Sofia, Bulgaria 27.09.2017 1 Association of traders with electricity in Bulgaria ATEB is
More informationTrading and Settlement for Weekly Contracts Trading and Settlement for Daily, DAC & Intraday Contracts (sample). Trading and Settlement for REC
Circular No.: IEX/MO/292/20 Date: 02 nd July, 20 TAM Trading and Settlement Calendar from July 20 to September 20 In pursuance of Rules, Bye-Laws and Business Rules of the Exchange, the Members of the
More informationIntraday Cross Border The Netherlands-Belgium
Intraday Cross Border The Netherlands-Belgium Content 1. Overall design 1. 2. 3. 4. 5. Process description Capacity calculation Elbas trading platform Tradable products Timeline & Nominations 2. Contractual
More informationMARKET SEGMENT PROCEDURE
MARKET SEGMENT PROCEDURE Purpose of the Market Segment Procedure The Market Segment Procedure is a Market Procedure, Appendix to the (Indirect) Participation Agreement that contains a detailed description
More informationPublic consultation. 6 October 2015
Public consultation 6 October 2015 Public consultation by the French Energy Regulatory Commission of 6 October 2015 on the introduction of 30-minute power trading products in the organised market and at
More informationIntraday CWE. Bernard Malfliet Convenor CWE-TSO-work group
Intraday CWE Bernard Malfliet Convenor CWE-TSO-work group 1 Main criteria for the Target Model choice (European and CWE Model) Ease of use of the solution Accessibility for all market parties Visibility
More informationElectricity Market Design in Croatia within the European Electricity Market Recommendations for Further Development
energies Article Electricity Market Design in Croatia within European Electricity Market Recommendations for Furr Development Mateo Beus 1, *, Ivan Pavić 1, Ivona Štrit 2, Tomislav Capuder 1 Hrvoje Pžić
More informationearning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom
earning every day-ahead your trust stepping forward to the future opcom Romanian gas and electricity market operator Opcom MONTHLY MARKET REPORT AUGUST 218 Day-Ahead Market - August 218 Number of registered
More informationPrice report Index. Daily Market. MIBEL: Energy, economic volume and technologies. Intraday Market. Settlement of the Daily and Intraday Market
Price report 217 Index. Price report 217 1. MIBEL: Energy, economic volume and technologies pag. 2 2. Daily Market pag. 7 3. Intraday Market pag. 12 4. Settlement of the Daily and Intraday Market pag.
More informationCapacity Allocation and Congestion Management (CACM) Code Overview
Capacity Allocation and Congestion Management (CACM) Code Overview Place your chosen image here. The four corners must just cover the arrow tips. For covers, the three pictures should be the same size
More informationBritNed Participants Forum. 12 October 2017 London
BritNed Participants Forum 12 ober 2017 London Programme 10:30 12:00 Introduction Commercial Update Operational Update Brexit 12:00 12:45 Lunch 12:45 14:00 Implementation of the Internal Energy Market
More informationTranselectrica and the Romanian Power Market A Regional Perspective
and the Romanian Power Market A Regional Perspective Bogdan Popescu-Vifor Director for Commercial Operations SA Towards more Integration of Central and Eastern European Energy Markets, C3EM Project, Budapest,
More informationBrexit and electricity interconnectors. Jason Mann
Brexit and electricity interconnectors Jason Mann 12 May 2018 Expansion of UK interconnection capacity driven by strong fundamentals and benign policies - but complicated by Brexit Mounting political pressures
More informationWinter Academy 2018 Trading, Sales and Financing in the European Energy Market and Industry Functioning of the European Power Exchange
Winter Academy 2018 Trading, Sales and Financing in the European Energy Market and Industry Functioning of the European Power Exchange Patrick Adigbli, Head of Public & Regulatory Affairs, EPEX SPOT 1
More informationStatus CWE Flow-Based Project. European Market Design Working Group May 31 st 2013
Status CWE Flow-Based Project European Market Design Working Group May 31 st 2013 Agenda Status of FB Project FB Project Planning External Parallel Run - Results Next Steps 2 Status of FB Project Launch
More informationInfo Session NWE Day-Ahead
Elia s European Market Design Work Group & Belpex Users Group Info Session NWE Day-Ahead Operational & contractual changes for Belgian wholesale market organization General overview NWE DAY-AHEAD PRICE
More informationCross Border Flows. Importance for the European Power-Price- Building Mechanisms
Cross Border Flows. Importance for the European Power-Price- Building Mechanisms German Norwegian Energy Forum 27 October 20, Berlin Dr. Błażej Radomski Head of Analysis - Germany Agenda I. Exchange vs.
More informationMarket coupling mechanism for integrating DAMs in South-East Europe. Dušan Vlaisavljević
Elektroenergetski Koordinacioni Centar d.o.o. Electricity Coordinating Center Ltd. V. Stepe 412, 11040 Belgrade 33, Serbia www.ekc-ltd.com Market coupling mechanism for integrating DAMs in South-East Europe
More informationProposal for Multiple NEMO Arrangements (MNA) for the Belgian bidding zone in accordance with Article 45 and Article 57 of the Commission Regulation
Proposal for Multiple NEMO Arrangements (MNA) for the Belgian bidding zone in accordance with Article 45 and Article 57 of the Commission Regulation (EU) 2015/1222 of 24 July 2015 establishing a Guideline
More informationElectricity Act 2003 Amendments. Presentation to Carriage & Content Separation Proposals and Issues. Anish De
Electricity Act 2003 Amendments Presentation to Carriage & Content Separation Proposals and Issues Anish De IIT Kanpur, April 20, 2014 Key Issues 1. Is carriage and content separation practicable in the
More informationTrading and Settlement for Weekly Contracts Trading and Settlement for Daily, DAC & Intraday Contracts (sample). Trading and Settlement for REC
Circular No.: IEX/MO/301/20 Date: 28 th September, 20 TAM Trading and Settlement Calendar from October 20 to December 20 In pursuance of Rules, Bye-Laws and Business Rules of the Exchange, the Members
More informationPOWER MARKETS: CRITICAL ELEMENTS FOR PROPER FUNCTIONING
POWER MARKETS: CRITICAL ELEMENTS FOR PROPER FUNCTIONING Regional Electricity Trading Conference Tbilisi, Georgia, 19-20/Nov/2012 Plamen Popov, Statkraft 1 AGENDA 1 2 3 Market elements Standardization issue
More informationAllocation on the France-Belgium interconnection. Intra-day allocation mechanism
Allocation on the France-Belgium interconnection Intra-day allocation mechanism Information note Table of contents 1. Introduction... 2 2. Product characteristics... 2 2.1. Basis principles... 2 2.2. The
More informationIf there are any questions concerning this filing, please contact the undersigned.
California Independent System Operator Corporation June 13, 2008 The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C. 20426 Re: One Hundred
More informationTrading across borders - The key to manage portfolios at a regional scale
Trading across borders - The key to manage portfolios at a regional scale Jérôme Le Page Manager for European Electricity Markets EFET European Federation of Energy Traders Energy Community Secretariat
More informationForm IV-A Short -term Inter-State Transactions Of Electricity by Trading Licensees ( RTC* )
Form IV-A Short -term Inter- Transactions Of Electricity by Licensees ( RTC* ) Period of Power Time of Power Start Date End Date Start Time End Time the Seller Purchased from A Inter Tansactions 1 01-May-17
More informationSouth East Europe Electricity Market options paper
EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR ENERGY AND TRANSPORT DIRECTORATE C - Conventional Energies Electricity & Gas Brussels, 5 December 2005 DG TREN/C2/MS South East Europe Electricity Market options
More informationNWE Info Session. Operational & contractual changes for Dutch wholesale market organization
NWE Info Session Operational & contractual changes for Dutch wholesale market organization General principles OPERATIONAL PRINCIPLES & POSSIBLE SCENARIOS Price Coupling Process General term for ATC and/or
More informationAugust 24, The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C.
California Independent System Operator Corporation August 24, 2007 The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C. 20426 Re: One Hundred
More informationGaspoint Nordic A/S. Nordic Gas Exchange. Introduction to the. Updated 1 st quarter 2015
Gaspoint Nordic A/S Introduction to the Nordic Gas Exchange Updated 1 st quarter 2015 Introducing Gaspoint Nordic Company Background Established in 2008, first trade March 4th Strong ownership - With effect
More informationElectricity markets, cross-border capacity allocation and the role of RTE
Electricity markets, cross-border capacity allocation and the role of RTE Paris 18th July 2014 Galileo BARBIERI galileo.barbieri@rte-france.com 1 What are the processes for scheduling for OTC, DAM and
More informationJanuary 25, The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C.
California Independent System Operator Corporation January 25, 2008 The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C. 20426 Re: One Hundred
More informationTrading and Settlement for Weekly Contracts Trading and Settlement for Daily, DAC & Intraday Contracts (sample). Trading and Settlement for REC
Circular No.: IEX/MO/266/2017 Date: 29 th December, 2017 TAM Trading and Settlement Calendar from January 2018 to March 2018 In pursuance of Rules, Bye-Laws and Business Rules of the Exchange, the Members
More informationIndian Energy Exchange
IPO Note Financial Services Oct 7, 2017 Indian Energy Exchange Powering up for the future of electricity trading Indian Energy Exchange (IEX) is the dominant exchange in India for trading electricity in
More informationCross-Border Intraday: Questions & Answers
Last update: 04/12/2018 Cross-Border Intraday: Questions & Answers 1. What is the Cross-Border Intraday initiative? The Cross-Border Intraday initiative (XBID Project) started as a joint initiative by
More informationTURKISH MARKET: CHALLENGES & OPPORTUNITIES
TURKISH MARKET: CHALLENGES & OPPORTUNITIES Anduvap Servet AKGÜN MD, Statkraft Trading Ltd.,Türkiye Regional Electricity Trading Conference, Tbilisi, November 2012 AGENDA 1 2 3 Trade Drivers - Market and
More informationXBID Information Package Published February 2018 Updated December 2018
XBID Information Package Published February 2018 Updated December 2018 1. Purpose of this document This document centralises, consolidates and comprehensively describes the necessary information which
More informationCan The EU Be An Example To Turkish Electricity Market Liberalisation?
Can The EU Be An Example To Turkish Electricity Market Liberalisation? Istanbul Energy Day 8 September 2015 Dr. Jan Haizmann Managing Director CORREGGIO CONSULTING Introduction Dr. Jan Haizmann Academia
More informationPublic data underlying the figures of Annual Report on the Results of Monitoring the Internal Electricity and Natural Gas Markets in 2013
Public data underlying the figures of Annual Report on the Results of Monitoring the Internal Electricity and Natural Gas Markets in 2013 October 2014 Legal notice This document is a joint publication
More informationThe TSO side of pan-european XBorder trading in high frequencies: The Role of Scheduling. Michael Schaefer Project Manager, Amprion System Operation
The TSO side of pan-european XBorder trading in high frequencies: The Role of Scheduling Michael Schaefer Project Manager, Amprion System Operation Diploma in Information Science & Advanced Postgraduate
More information