Source: Romanian Energy Framework Dr. Cristina Micu board member of AFEER

Transcription

1 Source: Romanian Energy Framework Dr. Cristina Micu board member of AFEER

2 Who is AFEER? Professional, Non - profit association, established in 2006; Represents 45 active companies in energy fields: 17 Romanian companies, 28 foreign, 4-100% state owned companies mainly the electricity suppliers with 90% market share The Mission: continuous and systematic improvement of energy environment in Romania having as a goal to create the internal EU energy market

3 AFEER s Objectives Local development of an efficient internal energy market through: Encouraging and stimulating competition having the result Competitive prices and improved quality services Support of innovation and efficiency - New business opportunities and further cross-border trade; Sustaining the Non-Discriminatory access to the network Adhesion to European Union rules and criteria, based on the common policy, sustainable growth, social responsibility, ethical management Establish a clear role of the market actor s Insure that the Process of changing suppliers' simple, safe and cost-free Transparent and non-discriminatory access to information in compliance REMIT requirements on transparency 3

4 AFEER Actions Meetings with different authority and organizations (RO, EU, MB, EFET) Round tables and seminars promoting improvement of RO electricity market Lobby for making life easy for trading in electricity sector AFEER Results OTC market Cancellation of transport fees on borders (for import/export) Change of fiscal legislation regarding VAT for wholesale electricity trading Registration of nonresident companies on Opcom markets Approval of intraday rule and regulation Market coupling 4

5 1998 vertical unbundling of RENEL; New model of the energy market: Spot market, bilateral market, bilateral centralized market, balancing market, GC market... Market opening Completely liberalisation from 2007 but in February % was a competitive market; the rest... was regulated... Assumed the competitive market: First step September from 1st January 2014: for all industrial customers -from 1st January 2018: for all householders new investments in renewable based on coming in force of 220/2008 law which establishes the system of incentivizing renewable investments All Our Yesterdays / Time s Arrow Cross-border: Coordinated bilateral auction until. 123/2012 New Energy & Gas Law come in force Ordinance 57/2013 come in force; it modify the system of incentivize the investment in renewable. after 2300 MW in wind and 430 MW installed in solar appears; and the authorities considered that there are more than the system can support and MODIFY the incentives 5

6 Into Darkness / the Dark side of the Force 123/2012 New Energy & Gas Law Wanted to transpose the EU legislation (3rd package) in Romanian legislation: market integrity and transparency on the wholesale energy market (REMIT) how?? Impose that: electricity trades should be in a transparent, PUBLIC, CENTRALISED and non-discriminitaory manner and added that it s granted a single licence for administration of centralized markets impact? Additionally conditions for electricity trading transformed in barriers; the designed market model was slightly but essential changed results? Ban of bilateral direct trades only via OPCOM = the Unic Centralized Market Operator Implicit results block import/exports; block the deals intercompany (same group) existed OTC, broker deals were interdict; partially block the PPA for renewable ban of trades for non residents players on market (VAT issue) ban future investments in field: the investor cannot receive its electricity* lack of correct price signal in the W and R market having a direct impact and regress in retail bussiness and economy; it was the 1st confussion for investors in powerplants 6

7 In September 2012 a letter from regulator interpretates the Law in a manner that import / export trades are allowed In July 2013: - the tariffs for import were totally eliminated and for export partially cut - the regulator approves the framework regarding the OTC on OPCOM - Signing of MoU for Czech-Slovak-Hungarian-Polish-Romanian Market Integration of the day-ahead electricity markets; A New Hope In August 2013: started the implementation of the continuous trading mechanism for Intra-Day Market; In September 2013: fiscal Code was modified and for the delivery of electricity were applied simplification measures (reverse charge) VAT issue for non residents players on market was solved In February 2014 started ROTC; first trade in May 2014 In August 2014, tariffs for export were totally eliminated 4M Market Coupling 11 November

8 Today is still Yesterday Actual situation: Regulator has just decided that actual PCCB is not transparent and discriminatory Ord. 78/2014 allowed only fix amounts, standard profiles Bilateral direct deals are still Not Allowed ban of intercompany direct deals ban of PPA But. Not the same discourage RES investments 4000 MW instalati in RES (17%) = un nou mix de energie 8

9 for the end: AFEER through all its members will continue to work to integrate Romanian Energy Market in Internal EU Market as a Voyage Home of the Country on the Edge of Forever Thank you For Attention cristina.micu@alpiq.com 9