First South East European Regional CIGRÉ Conference, Portoroz

Transcription

1 First South East European Regional CIGRÉ Conference, Portoroz 2016 SEERC 3-01 Regionally coordinated auctions of cross-border transmission capacities between South East European Transmission System Operators D. MARTINČIĆ, A. MIJUŠKOVIĆ Coordinated Auction Office in South East Europe Ltd. Montenegro D. MEĐIMOREC Croatian Transmission System Operator Ltd. Croatia SUMMARY Coordinated Auction Office in South East Europe (hereinafter: SEE CAO) was established in 2014, after few years of intensive preparation, by its shareholders - TSOs from the region of South East Europe (HOPS, NOSBiH, CGES, OST, KOSTT, IPTO, TEIAS) - with the objective to perform the explicit allocation of cross-border transmission capacity in both directions between Control Areas of the Participating TSO s, through NTC based Auction Processes in accordance with the requirements of Regulation (EC) 714/2009 of the European Parliament and of the Council on conditions for access to the network for cross border exchanges in electricity which also became a part of Energy Community aquis in line with the stipulations of Energy Community Treaty. SEE CAO's Go-Live was in November 2014 by launching the first yearly auctions for 2015 on two borders. During the year 2015, SEE CAO was expanding its scope of serviced borders by including remaining borders between the shareholding TSOs into its Auction process. Nevertheless, in order to complete the regional perimeter, SEE CAO and its shareholders are open and ready to include the remaining SEE TSOs, as well as their borders, into SEE CAO Auction Process. The pertinence of SEE CAO, particularly for regional electricity market in SEE, is reflected in introduction of new products by upgrading previous unilateral auctions performed by each TSO on 50% of NTC following their national Auction Rules or bilateral auctions performed by two neighbouring TSO on 100% of NTC following bilateral Auction Rules to regionally coordinated auctions performed by SEE CAO, having in force one single set of the Auction Rules and the possibility for the traders to allocate crossborder capacity from Croatia to Turkey by using SEE CAO as one-stop-shop. Since the core service of the company is highly dependent on data provision, the technical framework for implementation of auction tool had to be met. Therefore, Auction Platform was developed and implemented based on SEE CAO technical specification and dijana.martincic@seecao.com

2 requirements from SEE CAO Auction Rules. The Auction Platform, as web based application, is implemented completely following the ECAN (ENTSO-E Capacity Allocation and Nomination) standard, supporting the modules for Long Term and Daily Auctions, Secondary Market, Capacity Rights and Nominations (UIOSI), Finance and Settlement. Users of the Auction Platform, besides SEE CAO Operators and SEE TSOs (shareholders which are at the same time service users), are numerous Auction Participants. Auction Platform enables their users to offer or allocate the cross-border capacities on yearly, monthly and daily level. Thus, the data exchange is enabled between Auction Platform and the users in accordance with the Electronic Data Interchange (EDI) library and standards, while the relevant data is also provided to ENTSO-E Transparency Platform. Taking into account SEE CAO operational period up till March 2016, where all yearly, monthly and daily auctions were successfully conducted and having in mind positive feedback received from up to 100 registered traders, SEE CAO has proven its pivotal role for open and competitive South East European electricity market. KEYWORDS Capacity allocation, coordinated auctions, Regulation (EC) 714/2009, South East Europe, Coordinated Auction Office in South East Europe - SEE CAO, DAMAS system, Transmission System Operator, Regional Allocation Platform, Energy market 1

3 1. SEE CAO ESTABLISHMENT Regional cooperation for coordinated cross-border transmission capacity allocation has its formal roots in year 2008, when the Memorandum of understanding was signed by 11 regional Transmission System Operators (hereinafter: TSO), during the Energy Community (hereinafter: EnC) Ministerial Council in Tirana. Although in form of a non-binding document, it resulted with conclusion of the Council for the seat of future allocation office in Montenegro, followed with formation of SEE CAO Project Team Steering Committee. Furthermore, and having in mind already operational allocation offices in Central West and Central East Europe, establishing an allocation office in the region of South East Europe has been facilitated by adoption of the Regulation (EU) 714/2009 on conditions for access to the network for cross-border exchanges in electricity in the EnC acquis communitaire. Figure 1 "Bottom-up" establishment of SEE CAO Based on bottom-up approach shown in the picture above, and with support, along with the pressure, from the Energy Community Secretariat (hereinafter: ECS), effort of the SEE CAO Project Team Steering Committee resulted with registration of Limited Liability Project Team Company in charge of establishing a Coordinated Auction Office in South East Europe, Podgorica (hereinafter: PTC) on July 04 th Founders of the PTC were TSOs from Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, Kosovo, Albania, Macedonia, Greece, Turkey and Romania. The aim of the PTC was to establish and ensure the complete legal, financial and technical framework for successful launch of regional allocation office. During a period of less than two years, based on financial contributions from the TSOs and funds provided by International Financial Institutions (EBRD, KfW and USAID), experts engaged from participating TSOs (financial, electricity, IT) leaded by Executive Director and additionally supported by external consultancies managed to round up the required framework: Auction Rules were finalised and delivered for approval, Auction Platform was procured and implemented and Service Level Agreement (SLA) document with TSOs (Agreement for Services) was drafted. During this period, PTC had organised several workshops with the stakeholders (mainly TSOs) in order to harmonise the documents, specify the technical interfaces and procedures, and mostly, to exchange the know-how with TSOs. Moreover, the legal conditions for re-registration of the PTC to fully operational service company had to be met. During this period, all activities were supervised by PTC SEE CAO Board of Directors, constituted of members from founder TSOs. As a result of aforementioned, Coordinated Auction Office in South East Europe Ltd. Podgorica (hereinafter: SEE CAO) was registered on April 01 st 2014 as a legal successor of PTC with following shareholders: 2

4 Transmission System Operator Country 1. Turkiye Elektrik Iletim A.S TEIAS Turkey 2. Independent Power Transmission Operator IPTO Greece 3. Croatian Transmission System Operator Ltd. HOPS Croatia 4. Crnogorski Elektroprenosni Sistem AD CGES Montenegro 5. Nezavisni Operator Sistema u BiH NOSBiH Bosnia i Herzegovina 6. Operatori i Sistemit TE Transmetimit OST Albania 7. Operator Sistemi, Transmisioni Dhe Tregu KOSTT Kosovo 2. SEE CAO ORGANISATION Figure 2 SEE CAO shareholders Organisation of SEE CAO consists of only 3 levels - SEE CAO Board of Directors, Executive Director and SEE CAO employees. Shareholding TSOs have their representatives in SEE CAO Board of Directors, which is supervisory body of SEE CAO. Alongside with Executive Director, SEE CAO employees are four Auction Operators and two internal experts (for IT and Administrative/Legal issues). Besides tasks performed by the internal staff, the company outsources some tasks, mostly financial and IT to external providers. For the accounting purposes the Financial consultant company is engaged, while for the IT support SEE CAO is using, alongside with 3

5 DAMAS Auction Platform Provider, the Business Application support, Datacentre housing Provider and national Certificate Authority. SEE CAO employees, mainly Auction Operators, closely cooperate and communicate on a daily basis with its participating TSOs and registered Auction Participants, as well with the bank selected for execution of all financial transactions. Simplified scheme of SEE CAO s organisation and processes is presented on the illustration below. Figure 3 SEE CAO scheme 4

6 3. AUCTION PROCESS SEE CAO performs in its own name but on behalf and for the account of the participating TSOs explicit allocation of available transmission capacities on the borders between participating TSOs. Auctions are NTC based and are conducted on three timeframes - yearly, monthly and daily using the Auction Platform. Simplified auction process diagram is shown below: TSO NTC/ATC SEE CAO Auction Participant Auction Participant Auction Participant Offered Capacity Bids Bids Bids Clearing algorithm Marginal price Auction Process Auction Results Figure 4 Auction process Based on the values of transmission capacities received from participating TSOs (NTCs, respectively ATCs), SEE CAO schedules the auctions on the borders between participating TSOs. Auction Participants who are registered in SEE CAO and who are market participants eligible in at least one of participating TSO are bidding for the Offered Capacity during the bidding period. After bidding period has expired, the auction algorithm calculates the auction results. Auction algorithm used is Marginal Price algorithm, where all successful Auction Participants pay the same price (last accepted) for the allocation of Physical Transmission Rights (PTRs). Auction results are distributed to Auction participants and participating TSOs, followed by Invoicing and Settlement procedures, Secondary market and finally, utilisation of the allocated PTRs. Since Marginal Price is expressed in /MWh, the price of the allocated capacity per Auction Participants is calculated as product of marginal price, amount of allocated capacity and number of hours in timeframe which covers the auction. Total auction revenue collected from Auction Participants is distributed to the participating TSOs in accordance with the borders and auctions on which the congestion management revenue is obtained. 5

7 4. COMMENCE OF THE AUCTION PROCESS Prior to organising the first auctions and launching the fully operational SEE CAO, most important preconditions and requirements which had to be met are as follows: [1] Auction Rules approved by all respective National Regulatory Authorities Auction Rules v1.1. were prepared by PTC and adopted by PTC s BoD in January In the meantime and following ECRB s (Energy Community Regulatory Board) recommendation, the Auction Rules were updated and approved on SEE CAO s 6 th BoD meeting in Pristina on 24 th July 2014, and delivered for the approval of National Regulatory Authorities (NRAs). [2] Agreement for Services signed with all respective TSOs Agreement for Services was drafted by PTC and finalised by SEE CAO as a Service Level Agreement signed between SEE CAO and all respective TSOs. Agreement for Services was adopted by SEE CAO BoD on 8 th meeting in Tirana in November 2015, followed by signing of authorised representatives from the TSOs, which enabled SEE CAO to provide services to its shareholders. [3] Auction Platform delivered, installed, configured and tested Auction Platform was procured during the 2013 from the funds from EBRD and following the Bank s procurement procedure. Auction Platform was delivered and implemented in first half of 2014 and taken-over in June 2014 after successful testing. It was completely developed and configured in accordance with SEE CAO s technical specification from the tender procedure. Provider of the Auction Platform is Unicorn systems a.s., Czech Republic with their DAMAS system, which is well known among the TSOs and Auction Participants. Auction Platform will be described in details in following chapter. [4] Auction Operators employed and trained After establishing SEE CAO and prior to Go-Live, three international electrical engineers with experience from TSO were employed as SEE CAO Auction Operators. All of them were well-trained for DAMAS operation and also gained the knowledge from SEE CAO Auction Rules. [5] Auction Participants registered and trained At the end of October 2014, SEE CAO organised workshop with energy traders, future Auction Participants. The workshop served to introduce the traders with SEE CAO Auction Rules, to enable them a training with DAMAS Auction Platform followed by simulation of auctions, and of course, to allow them to raise the questions and suggestions. Feedback received from the traders was more than positive and SEE CAO decided to continue with this practice on a yearly basis. [6] All other requirements met by service user TSOs (legal, financial, technical) On the side of TSOs, some requirements should also be met TSO must assure that their NRA has approved SEE CAO s Auction Rules, double taxation issue must be overcomed 6

8 either by TSO or their local legislative, technical interfaces between SEE CAO s Auction Platform and TSOs systems must be compatible, as well as neighbour participating TSO s system for the matching purposes. Also, TSOs must be in charge of its Control Area, which has shown to be a quite unresolvable problem for KOSTT, who, although it is a shareholder of SEE CAO, it is not able to receive services due to the pending condition from ENTSO-E and KOSTT Connection Agreement. Since there were still pending issues for some of the shareholding TSOs which were postponing the Go-live, the Board of Directors of SEE CAO approved on its 8 th meeting in Tirana on November 06 th, 2014, to start the SEE CAO auctions on November 27 th 2014 with yearly auction 2015 for borders Croatia Bosnia and Herzegovina and Bosnia and Herzegovina Montenegro, and the remaining TSOs to join as soon as all the requirements are met on their side. At the moment of conduction of the first auction, SEE CAO had 51 registered Auction Participants from all over the Europe. Yearly auction 2015 was followed by monthly auctions for January 2015 and daily auctions starting from delivery day 01 st January 2015 on two mentioned borders. In February 2015, Albanian OST declared its readiness to participate in SEE CAO, which commenced the coordinated auctions on Albania Montenegro borders as of May Likewise, TEIAS announced that their NRA (ERA) has approved the SEE CAO Auction Rules v1.1 and the auctions on Turkey Greece border started from September It is important to note that these additional borders were included during the already ongoing auction year for 2015, which is not the usual procedure. Therefore, no yearly auctions for 2015 on these two borders were conducted by SEE CAO. Although Montenegrin CGES and Albanian OST have performed unilateral yearly auctions for 2015 by themselves for border AL - ME, SEE CAO continued with monthly and daily auctions, with transposing only AACy (Already Allocated Capacity Yearly) by OST to its system, and applying the UIOSI on it. Hereby, the receptiveness and flexibility of SEE CAO towards the TSOs can be visible and praised. For border Greece Turkey this was not needed as neither TEIAS nor IPTO have performed yearly auctions for As already mentioned, some TSOs have performed unilaterally yearly auction 2015, which was also the case for Greek s IPTO and Albanian OST on the border GR AL. IPTO found the transition from their national Auction Rules to SEE CAO Auction Rules during the auction year as legally risky, so the SEE CAO auction process on the border GR - AL started with yearly auction for 2016, followed by monthly and daily auctions. The remaining TSO which is still not receiving services from SEE CAO is Kosovo s KOSTT, as it has still not become responsible for Kosovo s Control Area in ENTSO-E Regional Group Continental Europe, and therefore, is not able to perform the capacity allocation and nomination on its borders. As soon as it will be the case, SEE CAO will start the auction process on borders KS - ME and KS - AL. 7

9 Figure 5 SEE CAO's scope To conclude, SEE CAO is performing yearly, monthly and daily auctions on 5 borders (HR BA; BA - ME; ME - AL; AL - GR; GR - TR) with approximately 100 registered Auction Participants. Regarding the operational period as of Go-Live dated 27 th November 2014, until March 2016, with 2 yearly, 15 monthly, and more than 400 daily auctions executed, it is important to underline that no issues have been arisen in auction organisation all auctions were successfully conducted, all results were published on time, all payments were collected from Auction Participants without any need to revoke collaterals, and not any contestation on auction results or performance has been received from Auction Participants. Therefore, it could be stated that SEE CAO s efficiency was 100% and that it has justified the trust of all stakeholders. 8

10 5. STEP FORWARD There are numerous advantages and steps-forward which were recognised in the region after implementation of coordinated auctions. First and for sure most important, is the transition from unilateral auctions performed by most TSOs on their 50% of NTC to the coordinated auctions conducted by SEE CAO on 100% of NTC, as compared in the illustration below. Figure 6 Auctions in the region - from unilateral to coordinated It is also important to note than not all timeframes were covered by TSOs unilateral auctions - for example, Albanian OST wasn t performing daily auctions for his borders, while Turkish TEIAS performed only monthly auction for border TR - GR. Also, the difference was in auction algorithm applied by each TSO for example, Montenegrin CGES was applying pay as bid method, while the price was determined as TOTAL to be paid in (not /MWh). Hereby, the full harmonisation is reached by applying one single set of Auction Rules on 7 countries and single auction algorithm, synchronised timing of long term capacity rights nomination deadline and auctions on all borders, single registration and collaterals applied on all borders per Auction Participant, etc. The important thing to note is that in order for Auction Participants to be registered in SEE CAO, they must be on eligibility list of at least one Participating TSO. Nevertheless, all Auction Participants are allowed to bid and allocate capacity on all auctions performed by SEE CAO, but when it comes to the usage of allocated PTR, the TSO eligibility list is applied and secondary market (transfer or UIOSI) is applicable for non-eligible TSOs on particular borders. The most obvious step forward in electricity market integration is the complete appliance of ENTSO-E Capacity Allocation and Nomination (ECAN) standard in the region and introduction of new products. For example, UIOSI principle is for the first time applied on all of the 5 borders, which emphasizes the efficiency in capacity usage and reallocation. Regarding the products, for the first time daily auctions are performed on OST s and TEIAS borders, while also on TEIAS border even the yearly auction is introduced for the first time. The secondary market including transfer and resale is also introduced as a new product, which brought lot of advantages to the Auction Participant. 9

11 6. AUCTION PLATFORM Auction Platform represents main tool which SEE CAO uses to operate the auctions, and which is also used by Auction Participants to place a bid on the required auctions or TSOs to check the state and results of the auction. As a part of donation of European Bank for Reconstruction and Development (hereinafter: EBRD), Auction Platform was procured by PTC in 2013 following EBRD s tender procedure, and the successful Tenderer was Unicorn systems a.s., Czech Republic with their DAMAS system. a. Specification and implementation Technical specification for the tender procurement was prepared by PTC s experts following already mentioned ECAN standard, first draft of SEE CAO Auction Rules and their previous experience in TSOs. Technical specification requirements mainly focused on software functions supporting capacity allocation, but also included requests for the interfaces and communication channels towards Auction Participants and TSOs, hardware equipment which should be delivered, additional reporting to SEE CAO s website and ENTSO-E transparency platform, and additional doublets of Auction platform test on SEE CAO s infrastructure and Disaster recovery site hosted on Provider s infrastructure. Regarding the maintenance, except the first guarantee year, Provider should state the price for yearly maintenance, which resulted in additional three year contract signed with the Provider. Implementation of DAMAS system by Unicorn systems a.s. started in November 2013, and it was finally delivered and accepted in June The Provider has completely developed the system to meet all SEE CAO s requests, working in close cooperation with TSOs in order to reach the maximum possible level of harmonisation between their systems and to have compatible interfaces followed by appropriate data exchange. System is developed as a web application, with user friendly interfaces for its users SEE CAO Auction Operators, Auction Participants and TSOs. Although DAMAS system was already used by a number of TSOs, certain customisation must have been done for the particularities of the allocation office. Moreover, in order to secure the access of Auction Participants to the Auction Platform, the additional security measure was taken the token (certificate) issued by Pošta CG must be obtained for every Auction Participant together with user account issued by SEE CAO for signing up into DAMAS Auction Platform. Design of the Auction Platform is fully compatible with SEE CAO Auction Rules with reference to the processes and their execution schedule, user roles, modules, data exchange etc. Process of coordinated auctions performed by SEE CAO is schemed in details on the following diagram: 10

12 Figure 7 Auction process - workflow 11

13 b. Modules Auction Platform is designed as a set of modules which perform specific functions from the Auction Rules and communicate between themselves to exchange the parameters and input/output information. Modules of the Auction Platform are shown in the picture below and described further on. Figure 8 Auction Platform modules Modules developed to support capacity allocation are the following: LONG TERM AUCTIONS in this module supported functions are scheduling, opening, closing, evaluating yearly and monthly auctions, publishing results, allocated capacity, and auction statistics, enabling insertion, modification and deletion of default and normal auction bids. DAILY AUCTIONS module developed in order to support complete process of scheduling, publishing the daily offered capacity, opening, closing, evaluation, publishing results of daily auction and auction statistics. Auction Participants are entitled to insert default or normal bids, modify or delete them, and to download and check auction results. CAPACITY RIGHTS Auction participants allocated capacity as well as his capacity rights for all three time frames are available in the Capacity Rights module. Auction operators are entitled to configure the NTC value per border by using this module, and to perform the capacity curtailment. SECONDARY MARKET Auction Participants are allowed to resale or transfer their allocated capacity by using this module, or to place their offer for other Auction Participants on Noticeboard. NOMINATIONS this module is from crucial importance as prerequisite for daily auctions, because it is performing UIOSI principle by enabling the import of CIC (CAS- Control Area Schedule Information for CAO) files obtained from participating TSOs. Based 12

14 on the uploaded CIC file and long term capacity rights, the module enables overview of the nominated capacity rights, performs the UIOSI and netting and calculates the daily ATC. FINANCE all financial obligations towards Auction Participants and TSOs are consisted in this module. The module offers a complete overview of all claims towards the Auction Participants with tracking of status (paid, unpaid, overdue), all settlements towards TSOs, compensations, credit notes, etc. This module also generates settlement reports to TSOs and Auction Participants. Moreover, in this module, Risk Management instruments are managed and the Credit Limit value is calculated. The most important section of the system is the System Administration, which enables the configuration of all crucial parameters and code tables Auction Participant, TSO, Control Area, Border, Border Direction, Auction configuration, Auction timing, Communication channel, Process schedule, Data Flow, etc. Using the System Administration, particularities between borders, TSOs or auctions can be diverted and set as required by the stakeholders. c. Communication Communication is enabled towards the Auction Participants and TSOs, and additionally, the announcements of the auctions as well as results are delivered to SEE CAO web page and ENTSO-E Transparency Platform in accordance with Commission Regulation (EU) No 513/2013 on submission and publication of data in electricity markets. Figure 9 Auction Platform communication with external systems Data exchange with Auction Participants and TSOs is enabled by using the format of documents following Electronic Data Interchange (EDI) library, ECAN and ESS (ENTSO-E Scheduling System) standard: Auction Specification Document, Bid Document, Total Allocation Result Document, Allocation Result Document, Rights Document CAS Information for CAO (ESS) Acknowledgement. 13

15 Communication channels which are implemented as interfaces to and from DAMAS system are manually insertion, upload or download using the web forms, receiving the notifications and/or documents by , as well as upload of particular files (for example, CIC file send by TSOs and Acknowledgement generated back by DAMAS), data exchange via SFTP, and using of web services. For data delivery to ENTSO-E Transparency Platform, SEE CAO is using the Energy Communication Platform - ECP. All communication channels are shown in the table below: Webform SFTP Webservice ECP TSO (documents) Auction Participants (notifications) SEE CAO web ENTSO-E TP It is important to note that SEE CAO was one of the first Data Providers who started reporting to ENTSO-E Transparency Platform as of January 05 th 2015, which has significantly contributed to the enhancement of the transparency in the SEE region, especially taking into account that prior to establishment of SEE CAO the auction results were not as transparent. Figure 10 ENTSO-E Transparency Platform Moreover, all auction announcements and auction results are public and available on SEE CAO web site ( ) for which the Auction Platform is using SFTP to deliver the information and web site is using web services to fetch the data. 14

16 d. Enhancements Figure 11 Auction results on SEE CAO web site During the operational period, SEE CAO Operators requested additional modifications and upgrades of DAMAS system. Therefore, the new project for DAMAS enhancements has started during the year Except the modifications which should enable SEE CAO operators more user-friendly operating with the Auction Platform, modifications should also include some requirements from the Auction Participants (import of one Bid document which contains bids for more auctions and border directions, switching one user among several companies). Also, the data exchange process will be improved by introduction of ECAN Capacity Document for the exchange of NTC, ATC, Offered Capacity and Curtailment values between TSOs and SEE CAO. With regards to Figure 3 it is notable that SEE CAO is using the services from external accounting and financial consultancies, which are using their own software for invoicing, settlement and compensations towards the Auction participants and TSOs based on inputs received from DAMAS Auction Platform. Since SEE CAO has reached its full operational scope and having in mind the possible expansion of serviced borders, as well as the increasing revenue from the auctions, it is inevitable that SEE CAO should employ its own accounting officer. Therefore, the DAMAS Auction Platform should be upgraded with additional features in Finance module, which will enable the creation, printing and sending of the Invoices, Credit Notes, Compensation statements and settlements towards the Auction Participants and TSOs, and track the status of them. In addition, the Auction Platform should also have the possibility to invoice to participating TSOs the Service Fees and track their status. 15

17 Moreover, by entering into force Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency and in particular of the Commission implementing Regulation (EU) No 1348/ REMIT (Regulation on Energy Market Integrity and Transparency), SEE CAO is obliged to report the transactions regarding capacity allocation to ACER and the new project for implementation of this requirement is on-going. Since so far only EU Member States are obliged to report under abovementioned Regulations, SEE CAO shall as Registered Reporting Mechanism (RRM) in the name of Greek IPTO s and Croatian HOPS report the following transaction from primary allocation and in the name of Market Participants the secondary rights: Offers/bids Capacity Allocation time series (Yearly, Monthly, Daily) Auction results No-Bids auction time series Secondary rights time series 7. NEXT STEPS Although Network Codes on Forward Capacity Allocation is not yet legally binding, because Commission Regulation (EU) establishing a guideline on forward capacity allocation (FCA) has not come into force in EU - it is expected to happen in For its acceptance in EnC acquis communitaire more time will be needed due to different legal mechanisms for non-eu countries. Nevertheless its (early) implementation should be one of the main future steps for SEE CAO. First step for SEE CAO should be complete taking-over and implementation of Harmonised Auction Rules, which is not foreseen for auctions for SEE CAO should start applying HAR as of Its scope of explicit daily allocations will gradually be reduced depending on the pace of the (early) implementation of Commission Regulation (EU) 2015/1222 of 24 July 2015 establishing a guideline on capacity allocation and congestion management (CACM) in the SEE region. Of course, same remark on the duration of the process of also this Regulation applies like for the FCA. One of main preconditions for (early) implementation of CACM is existence of power exchanges as main tool for day-ahead market coupling. With introduction of such implicit allocations SEE CAO will remain focused on long-term (forward) auctions for the period depending on the time and way how FCA stipulations regarding Single Allocation Platform will be addressed by EnC acquis communitaire. Therefore SEE CAO has a minimum of few next years to continue its operation as Regional Allocation Platform for SEE. Having in mind that SEE CAO s has not yet covered the full regional scope, the extension of SEE CAO is expected as SEE CAO is open to include the remaining TSOs as well as their borders into SEE CAO Auction Processes. Figure 12 SEE CAO logo 16

18 BIBLIOGRAPHY [1] REGULATION (EC) No 714/2009 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 July 2009 on conditions for access to the network for crossborder exchanges in electricity and repealing Regulation (EC) No 1228/2003 [2] ENTSO-E Capacity Allocation and Nomination System (ECAN) Implementation Guide [3] COMMISSION REGULATION (EU) No 543/2013 of 14 June 2013 on submission and publication of data in electricity markets and amending Annex I to Regulation (EC) No 714/2009 of the European Parliament and of the Council [4] Tender Document for Procurement of Goods and Related Services, SEE CAO, Podgorica, May 2013 [5] SEE CAO Engineering Project, Unicorn systems a.s., Czech Republic, [6] SEE CAO User Documentation, Unicorn systems a.s., Czech Republic, [7] SEE CAO Auction Rules v1.1, Coordinated Auction Office in South East Europe d.o.o. Podgorica, July [8] SEE CAO Auction Rules v1.3, Coordinated Auction Office in South East Europe d.o.o. Podgorica, September [9] ENTSO-E Manual of procedures for the ENTSO-E Central Information Transparency Platform, Brussels, May [10] REGULATION (EU) No 1227/2011 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 October 2011 on wholesale energy market integrity and transparency [11] COMMISSION IMPLEMENTING REGULATION (EU) No 1348/2014 of 17 December 2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and Transparency [12] ENTSO-E Network Code on Forward Capacity Allocation, Brussels, August 2015 [13] COMMISSION REGULATION (EU) / of XXX establishing a guideline on forward capacity allocation final draft, Brussels,