How to register on PRISMA

Transcription

1 Find out more about The marketing process on PRISMA platform As of April 2013, GRTgaz offers capacity on the upstream network as bundled capacity as well as unbundled via the PRISMA platform. How to register on PRISMA Prerequisite: The initial registration requires the use of company EIC code as identifier. Requesting an EIC code should be done from an EIC code issuing office. The following link will allow you to make your EIC code demand to the issuing office: Steps: When you first connect, the shipper registration is done with the first user registration. A shipper registration without users is not possible. Once registered, each user will obtain a login, a password as well as a Token. In order to subscribe capacity on a bundle or unbundled point where GRTgaz is a TSO, the shipper will need to be activated by GRTgaz. During registration process it is necessary to specify which Transportation Operators the shipper would like to work with. For already registered shippers, it is possible to add Transportation Operators at any time via the My PRISMA Primary menu. Marketing Mechanisms Bundled capacity PRISMA allows to subscribe bundled capacity on interconnection points : via one unique booking, the shipper books capacity from both adjacent Transportation Operators on each side of the border point, ensuring access to both corresponding networks. Unbundled capacity PRISMA also allows unbundled capacity subscription: o When GRTgaz adjacent operator is marketing capacity on PRISMA platform and when capacity remains available on GRTgaz network, it is then marketed as an unbundled capacity o When GRTgaz adjacent operators do not market their capacity on the PRISMA platform (please refer to the table below) 1 Non-contractual document Updated on March 2015

2 Offered products The PRISMA platform allows to offer capacity products via auction mechanisms as described in the CAM network code: Yearly product: Capacity marketed for a duration of one year beginning on October 1 st. Capacity can be booked up to 15 years ahead during a Yearly auction. Quarterly product: Capacity marketed for a duration of three months. The quarters are predefined (from October to December, from January to March, from April to June, and from July to September). The 4 quarters from a year are marketed at the same time. Monthly product: Capacity marketed for a duration of one month ( month ahead ). Daily product: Capacity marketed for a duration of one day ( day-ahead ). As soon as the CAM network code comes into force, the auctions for similar products will occur at the same time for all interconnection points within the European Union. GRTgaz is offering the products stated below: Interconnection point Daily product Monthly product Quarterly product Yearly product Obergailbach X X X X Taisnières H X X X X Taisnières B X X X X Oltingue X X X X Liaison Nord Sud Liaison Nord Sud - JTS X (South to North only) X (North to South) X X X Key definitions Bidding window: Period of time during which the shipper can place a bid in front of a price. Each product (maturity, contractual point, direction) is marketed in one window. Bidding round: There are several rounds in one window. Each bidding round corresponds to a price against which the shipper has to place a bid. Bid : Amount of capacity the shipper wants to book given the price of the bidding round Clearing price: This is the price paid by the shipper for the capacity. The price is determined at the end of the bidding window. 2

3 Two different auction mechanisms Capacity of a duration greater or equal to one month are marketed via an ascending clock auction algorithm (with one or several bidding rounds). Capacity of a duration lower or equal to one day are marketed via a uniform price algorithm auction (with only one bidding round). Monthly and daily capacity are marketed respectively every month and every day, for the following month or day. On the other side, yearly and quarterly products are marketed only once a year. To sum up Bidding window Ascending clock auction Yearly, Quarterly, Monthly products No fixed duration. Window is open as long as the auction is running. Uniform price auction algorithm Daily products 4:30pm 5:00pm Bidding round Several bidding rounds by window Single round Bid Bid consists in a volume of capacity (price given by the bidding round) Bid consists in a volume associated with a price (price given by the shipper) Price Clearing price Ascending clock auction The ascending clock auction is the relevant marketing auction mechanism for yearly, quarterly and monthly products. Principles Before Auction Product is published on PRISMA with a given reserved price. The reserved price of a bundled 1 product corresponds to the sum of each TSO reserved price on each side of the interconnection point. Participating in an auction During the bidding window, several bidding rounds are happening with a dedicated price: The first bidding round corresponds to the auction reserved price The price of each bidding round is determined by the price of the previous round 2 increased by a large or small price steps. For every rounds, shippers may bid for a given price. A shipper not bidding in one round is excluded from the following rounds. NB: The bid capacity amount should be greater than any bid placed at a greater price but lower than any bid placed at a lower price. Moreover, not placing a bid in a round makes placing a bid in a further round impossible. 3

4 Clearing price determination At the end of each round, the bids are evaluated according to the available capacity. If the demand is higher than the available capacity a new bidding round is open with an increased price. 3 If the demand is lower than the available capacity: o In case the current round is the first of the auction, or a round with a positive number of small price steps, the round, the window as well as the auction end. o In case the current round has a positive number of large price steps but no small price step, a new bidding round is open with a price increased of a small price step. After the auction The bids placed in the last biding round are allocated to the corresponding shippers. The price 4 for all shippers participating in the auction is the same: the clearing price which corresponds to the price of the last bidding round. Marketing schedule Step Yearly product Quarterly product Monthly Product publication 1st Monday of February Last Monday of March 1 st Monday of M-1 Bidding window opening Platform running time Duration of the 1 st bidding round Duration of the flowing bidding rounds Bidding round number Auction ending 1 st Monday of March(*) 1 st Monday of June(*) 2 nd Monday of M-1 PRISMA platform is open from 9:00 am until 6:00 pm 3 hours 1 hour As many a necessary As soon as the ending conditions are met (*) : unless otherwise specified in the published calendar. 4

5 Marketing schedule example: Monthly product Uniform price auction The uniform price auction is the relevant marketing auction mechanism for daily products. Principles Before auction The product is published on PRIMSA at 4:30pm with the associated reserved price. The 1 reserved price of a bundled product corresponds to the sum of each TSO reserved price on each side of the interconnection point. Participating in an auction The bidding window is composed of a unique bidding round from 4:30pm to 5:00pm. During this round, each shipper may place up to 10 bids composed of: Capacity amount Minimum capacity amount (amount under which the shipper is no longer interested in the 2 capacity) Price (all prices need to be above or equal to the reserve price) The sum of the bids made by a shipper should not be higher than the volume of the available capacity. Clearing price determination The auction ends at 5:00pm. The shipper bids are evaluated and the clearing price is 3 determined. 5

6 Capacity allocation Bids are ranked using the proposed prices (in the decreasing order). Bids are successfully 4 allocated according to the available capacity: 1st case: The sum of shipper bids is lower than the available capacity: All bids are allocated Clearing price is equal to the reserved price Demand Allocation 2 nd case: The sum of shipper bids is greater than the available capacity: Bids which cumulated volume is under the available capacity are allocated. The clearing proce corresponds to the price of the last successful bid. Demand Allocation 3rd case: The sum of shipper bids is greater than the available capacity AND the minimum volume of at least one bid cannot be seved: Bids which cumulated volume is under the available capacity are allocated. Bids which minimum amount is higher that the remaining available capacity are considered null and void. The clearing proce corresponds to the price of the last successful bid. 6

7 Demand Allocation 7