RELEASE SCHEDULE - MARCH PIPELINE CAPACITY TRADING

Transcription

1 RELEASE SCHEDULE - MARCH PIPELINE CAPACITY TRADING AEMO RELEASE SCHEDULE: GSH Published 8 May 2018 Schedule Pre-production: Monday 21 January 2019 Production: Version 1.02 Friday 1 March 2019

2 Introduction Summary IMPORTANT NOTICE Purpose & audience This document describes details about the Release Schedule - March Pipeline Capacity Trading. The Australian Energy Market Operator (AEMO) provides this information as a service targeting business analysts and IT staff in participant organisations. It provides guidance about the changes to their market systems under the National Gas Rules (Rules), as at the date of publication. How to use this document If you have questions about the business aspects of these changes, please see Consultations on AEMO s website. The references listed throughout this document are primary resources and take precedence over this document. Unless otherwise stated, you can find resources mentioned in this guide on AEMO's website. Text in this format, indicates a reference to a document on AEMO s website. This document is written in plain language for easy reading. Where there is a discrepancy between the Rules and information or a term in this document, the Rules take precedence. Glossary Terms are capitalised and have the meanings listed against them in the Glossary. Italicised terms are defined in the Rules. Any rules terms not in this format still have the same meaning. Actions to complete in the Web Portal interface are bold and dark blue. Privacy and legal notices The material in this publication may be used in accordance with the privacy and legal notices on AEMO s website. Trademark Notices Microsoft, Windows and SQL Server are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. Oracle and Java are registered trademarks of Oracle and/or its affiliates. UNIX is a registered trademark of The Open Group in the US and other countries Google Inc, used with permission. Google and the Google logo are registered trademarks of Google Inc. Distribution Available to the public. Document Identification Version: 0.01 Prepared by: AEMO Market Systems Last update: Tuesday, 8 May :59:00 Version History 1.02 Initial creation Documents made obsolete The release of this document changes only the version of Release Schedule - March Pipeline Capacity Trading. Further Information For further information, please visit AEMO s website or contact: AEMO Information and Support Hub Phone: 1300 AEMO 00 ( ) and follow the prompts. supporthub@aemo.com.au Feedback Your feedback is important and helps us improve our services and products. To suggest improvements, please contact AEMO's Support Hub. AEMO

3 Introduction Summary CONTENTS 1 Introduction Summary Scope Schedule Proposed timeline Related resources Approval to change Capacity Trading Platform IT Platform Prerequisites Registration Manage contract references Trade capacity products Capacity Transfer Interface Submit Bilateral Trades Settlement and billing process Prudential process Reporting Day-Ahead Auction IT Platform Prerequisites Changes to participant systems Gas Data Model Glossary AEMO

4 Introduction Summary 1 INTRODUCTION 1.1 Summary This release schedule informs participants about the IT changes for the Capacity Trading Reform Package recommended by the Australian Energy Market Commission (AEMC) as part of its Eastern Australian Wholesale Gas Market and Pipelines Framework Review. At its August 2016 meeting, the Energy Council endorsed the reform package. The reforms relate to transmission pipeline and compression services (jointly referred to as Transportation Services) outside the Victorian DTS. They include: A Capacity-Trading Platform (CTP). A Day-Ahead Auction (DAA). Standards for key contract terms in primary, secondary, and operational transportation agreements to make capacity products more fungible and to facilitate a greater level of secondary capacity trading. A reporting framework for secondary capacity trades, providing for: The publication of the price and other related information on secondary trades Other market transparency measures, including information relating to allocation agreements. 1.2 Scope This release schedule explains the IT changes for: The Capacity-Trading Platform (CTP). For details, see page 6. The Day-Ahead Auction (DAA). For details, see page 10. Figure 1 Project scope AEMO

5 Introduction Schedule 1.3 Schedule Scheduled for implementation in: Pre-production: Monday 21 January 2019 Production: Friday 1 March Proposed timeline Milestone Date Description Approval required No approval required Final date for approval of this Release. User group meeting: initial No user group meetings required for this Release. Market systems user group meeting to discuss items on this Release. Revised Release Schedule Approx. June 2018 Further details of the changes to assist IT staff with their own technical implementation. Pre-production refresh for Market Trial TBA Refresh of the GSH pre-production system. Pre-production Data Model release TBA Participant Data Model and PDR Loader configuration scripts released. Pre-production implementation for connectivity testing Friday 2 November 2018 Friday 9 November 2018 AEMO implements limited components of the Release to pre-production for participant connectivity and interface testing. AEMO has full access to the system during this period. Participant access is not restricted, however, the data content or system availability is not guaranteed. Pre-production systems available for connectivity testing Monday 12 November 2018 Connectivity and interface testing period begins for participants. Pre-production implementation for Market Trial Monday 7 January 2019 Friday 18 January 2019 AEMO implements the full Release to preproduction for final system/integration testing. AEMO has full access to the system during this period. Participant access is not restricted, however, the data content or system availability is not guaranteed. Pre-production systems available for Market Trial Monday 21 January 2019 Market Trial period begins for participants. AEMO

6 Introduction Related resources Milestone Date Description Production implementation Monday 25 February 2019 Friday 1 March 2019 AEMO implements the Release to production. Production systems available Friday 1 March 2019 Production systems available to participants User group meeting: postimplementation review No user group meetings required for this Release. Market systems user group meeting to review the implementation of this Release. 1.5 Related resources Standardisation, Capacity Trading Platform and Reporting Framework: Design of the Day-Ahead Auction of Contracted but Un-nominated Capacity - Final Recommendations: East Coast Wholesale Gas Market and Pipeline Frameworks Review: Pipeline Capacity Trading: Approval to change This Release Schedule is for information only. No approval or agreement is required from participant change controllers. AEMO

7 Capacity Trading Platform IT Platform 2 CAPACITY TRADING PLATFORM Shippers can use the Capacity Trading Platform (CTP) to trade secondary capacity ahead of the nomination cut-off time. It provides for exchange-based trading of commonly traded products and a listing service for other more bespoke products. 2.1 IT Platform The existing Gas Supply Hub (GSH) will host the CTP. Selected information will also be published on the Gas Bulletin Board. 2.2 Prerequisites Participants must sign the updated GSH Exchange Agreement, incorporating capacity trading before they can use the CTP. 2.3 Registration Participants must register as one of the following participant categories. Trading Participant (CTP) new category Trading Participant (unrestricted) existing category Viewing Participant existing category Trade all capacity and commodity products Trade capacity products View commodity products View prices of all capacity and commodity products List spare capacity in the capacity listing service View spare capacity in the capacity listing service 2.4 Manage contract references Trading participants can use a new web application in the Markets portal to: Select the relevant contract reference for a capacity product from a pre-defined list. Change the contract reference for a capacity product at any time prior to the trade netting process. AEMO

8 Capacity Trading Platform Trade capacity products 2.5 Trade capacity products Trading participants can use the existing Trayport Global Vision front-end interface to: Submit Bids and Offers for capacity products. AEMO automatically matches bids and offers on capacity products to execute a trade. Auto matching operates as per existing commodity matching rules. Submit an off-market trade for all online traded capacity products as well as additional standardised capacity products not available for online trading. Either the buyer or seller submits an off-market trade in CTP that the counterparty must confirm. 2.6 Capacity Transfer Interface A new API interface between AEMO and service providers is established to facilitate the exchange of capacity trade data. AEMO sends a list of netted capacity trades to service providers on a daily basis. Once the adjustments are complete, service providers must adjust the relevant contract capacities in their own systems and send a confirmation to AEMO. For STTM and DWGM capacity products, AEMO transfers the traded capacities in the relevant market systems via a new automated process. 2.7 Submit Bilateral Trades To enable AEMO to receive notification of Bilateral Capacity Trades for publishing in accordance with the reporting framework recommended by the GMRG, AEMO implements a new data submission transaction on the Gas Bulletin Board where sellers are required to submit details of the bilateral trade. 2.8 Settlement and billing process To settle and bill Trading Participants for executed trades in the CTP, AEMO: Uses the existing GSH settlement system for settling capacity trades. Uses the Service Products line item on the existing GSH settlement statement for capacity product trades. Uses the existing GSH Reallocations system for capacity trading. Trading Participants can use dollar reallocations only. Energy reallocations are not available for capacity products. Includes the capacity product transaction data in the existing GSH Settlements Supporting Data report. 2.9 Prudential process AEMO uses the existing GSH Prudential Monitoring system to monitor the prudential position of Trading Participants: If a Trading Participant breaches their trading limit, AEMO notifies participants via a Trading Limit Breach Notice. The existing GSH Prudential Dashboard reflects any new activity resulting from capacity product Bids, Offers, or Trades. AEMO includes details of new activity resulting from capacity product Bids, Offers, or Trades in the existing GSH Prudential Exposure report. AEMO

9 Capacity Trading Platform Reporting 2.10 Reporting AEMO uses the Gas Bulletin Board to publish the following information: Daily summary of capacity trade transactions. Historical summary of capacity trade transactions. Daily list of all executed trades (including online-traded, off-market and bilateral trades). Allocation agent information. AEMO

10 Day-Ahead Auction IT Platform 3 DAY-AHEAD AUCTION A Day-Ahead Auction (DAA) of contracted but unnominated capacity, conducted shortly after nomination cut-off and subject to a reserve price of zero (with compressor fuel provided by shippers). 3.1 IT Platform The DAA platform consists of the following new systems. An auction bidding interface. This is a new web application available in the Markets Portal. An auction solver. The DAA platform consists of the following existing systems: GSH Settlements and Billing system. GSH Prudential Monitoring system. Gas Bulletin Board. 3.2 Prerequisites Trading participants must sign the DAA Agreement before they are eligible to participate in the DAA auction. GSH and DAA membership and participation are independent of each other. A Trading Participant may elect to join one or both. 3.3 Changes to participant systems Currently, it is difficult to provide exact specifications about the systems service providers are required to implement until a decision is made on the final auction design and procedures. We are working closely with the GMRG and service providers during the 2018 implementation phase of the project. We will publish further information about the systems service providers are required to implement in the Revised Release Schedule. AEMO

11 Gas Data Model Changes to participant systems 4 GAS DATA MODEL We will use the existing Participant File Server and Data Interchange to provide Trading Participants with capacity trading and auction related information and reports. The Gas Data Model design is currently underway. We will provide further Data Model details in the Revised Release Schedule. AEMO

12 Glossary Changes to participant systems 5 GLOSSARY Abbreviation/Term Bid Bilateral Capacity Trades CTP DAA Data Interchange DTS DWGM EMMS ETS Fungible GMRG GSH MHQ Offer Off-market Trade Online-traded Trade Explanation Traders submit Bids to buy capacity. A trade that is executed outside of the CTP. Bilateral trades must be reported to AEMO, however the financial settlement is handled directly between the seller and buyer, outside of the CTP. Capacity Trading Platform Day-Ahead Auction Data interchange (DI) is a set of cooperating applications to replicate data between AEMO s Wholesale Market Systems and registered participants' RDBMS conforming to the Electricity and/or Gas Data Models. AEMO recommends participants use the Data Interchange software (supplied by AEMO) to automate receiving and storage of the subscribed reports from Data Subscriptions. The data is conveniently stored in the participant's RDBMS conforming to the MMS Data Model. Declared Transmission System (Victoria) Declared Wholesale Gas Market (Victorian market) Wholesale electricity market system Exchange Trading System. An exchange platform currently used for trading commodity gas in the GSH. One unit or portion can replace another in respect of function, office, or use. Gas Market Reform Group Gas Supply Hub Maximum hourly quantity. Refers to the maximum hourly quantity that a trading participant can be scheduled to inject or withdraw in the DWGM. Traders submit Offers to sell spare capacity A trade between two trading participants that is submitted into the GSH system for financial settlement. A trade that is automatically created by the GSH system by matching a bid and offer. AEMO

13 Glossary Changes to participant systems Abbreviation/Term Explanation Participant File Server The Participant ID set of folders on AEMO s systems where the Participant ID can retrieve files using FTP or automate the process using Data Interchange. STTM Short Term Trading Market (Brisbane, Sydney, and Adelaide) Pronounced: es-tt-m. Trade A matching bid and offer. Transportation Services Transmission pipeline and compression services outside the Victorian DTS. AEMO