Post on 28-Mar-2018
GTS Workshop Groningen, 9 October 2013
14/01/2014 | Chart 2
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 3
PRISMA. From idea to launch in less than a year.
March 2012: ENTSOG presents the future market rules (NC CAM) to ACER
April 2012: Signing of a Memorandum of Understanding
− to create a joint platform…
− which fulfils the future European requirements of the NC CAM already two years ahead of its time
1 January 2013: 19 TSOs from Austria, Belgium, Denmark, France, Germany, Italy and the Netherlands founded the PRISMA company
1 April 2013: Start of the first national & cross-border auctions on PRISMA
Current Shareholders
14/01/2014 | Chart 4
PRISMA has implemented almost all of the NC CAM requirements. Two years ahead of time. Capacity products
− Yearly, quarterly, monthly, day-ahead products − Bundled products between hubs − Unbundled products − Firm & Interruptible
All products available on one platform:
PRISMA European Capacity Platform
Allocation – Auction mechanisms as described in the NC CAM
• Uniform price auction: day-ahead products • Ascending clock algorithm: monthly, quarterly and yearly products
The platform can also handle regional specificities, ensuring that European TSOs
comply with their national regulation until NC CAM comes into force.
Integrated platform for primary and secondary capacity will be available January 2014
www.prisma-capacity.eu
14/01/2014 | Chart 5
Beyond the future European requirements, PRISMA also provides additional services to TSOs and Shippers…
Centralised shipper and user registration on the platform First-come-first-served booking at domestic points
Surrender of capacity
Conversion of interruptible into firm capacity
Multiple kinds of firm capacity, multiple interruptible levels
Competing capacity
1:n bundling
Credit limit check
Booking assignment to balancing groups and portfolios
Automated interface to deal capturing systems of shippers
Comfort functions for automated bidding
With a high number of state-of-the-art functionalities, the PRISMA platform provides an advanced and cost-efficient way to fulfil the EU requirements.
14/01/2014 | Chart 6
Basic principles of PRISMA Marketing structure
TSO 1 TSO 2
Capacity Platform
Booking TSO 1
Auction TSO 3
Registration TSO 1, TSO 4
Auction TSO 1
Booking TSO 4
Shipper A Shipper B
The platform offers two different market models (auctions and first-come-first-served bookings). Additionally, standardized registration, network and contract information services are available.
… TSO N
14/01/2014 | Chart 7
Basic principles of PRISMA Overview of the functionalities of PRISMA primary
PRISMA Platform
Execution of auctions
Shipper registration
Booking Overview of inter-
connection points
Overview of auctions
Display of free
capacities
Processing of auction
results
Auctions FCFS Bookings
Booking request to
TSO
Display of contract positions
Capacity Bundling, Upgrade, Surrender
14/01/2014 | Chart 8
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 9
Role Definitions Platform Roles
Platform Operator
TSO Shipper Everyone
Platform Admin
TSO Admin
TSO User
User Guest
(unregistered)
14/01/2014 | Chart 10
Role Definitions Platform Roles
Guest (unregistered)
Everyone – No registration and login is required. Guests can look at all the published data as well as at all publicly available information.
Shipper User
Shipper role with the right to trade capacities with the TSOs. A shipper can have multiple users.
TSO User
Role for performing non-configurative tasks for the TSOs like activating/deactivating transport customers.
TSO Admin
Admin role for the configuration of TSO specific values and the management of documents.
Platform Admin
Super user of the platform used for support and operations. This user can not trade.
14/01/2014 | Chart 11
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 12
Registration The Registration Process
A single user of a shipper can only acquire transport capacities on the platform and on behalf of their company once they have been activated by the respective TSO.
Users of a shipper who would like to join the platform have to pass the registration process.
If a shipper company is not yet registered, the registration of the shipper takes place with the registration of its first user. A separate registration of the shipper company is not possible.
If no longer needed, the shippers as well as their users can be deactivated
In order to register to the platform shippers need an EIC Code After a registration the user receives a personal account and token.
The account must not be shared with other company members and the token is not transferrable to other users!
14/01/2014 | Chart 13
Registration Process model
Shipper
PRISMA
Registration request (online)
Entering Identification
Code
Manual Evaluation
of EIC/other codes
Does the company already exist on
PRISMA?
Entering extended
master data (for a new company)
Adding master data (user-based)
Accepting PRISMA primary GTCs*
Selecting TSOs
Forwarding customer
master data to TSO
Adding shipper data in system
no
TSO Checking mandate /
credit rating
Activation
Activating shipper user for TSO on
PRISMA primary
Providing TSO specific documents (mandate/
credit rating)
Filling out and sending TSO specific documents
Accepting GTCs of TSO (link to TSO homepage)
14/01/2014 | Chart 14
Registration Process model
Shipper
PRISMA primary
Registration request (online)
Entering Identification
Code
Manual Evaluation
of EIC/other codes
Does the company already exist on
PRISMA?
Entering extended
master data (for a new company)
Adding master data (user-based)
no
…
14/01/2014 | Chart 15
Registration Process model
Accepting PRISMA primary GTCs*
Selecting TSOs
Forwarding customer
master data to TSO
Adding shipper data
in system
Providing TSO specific
documents (mandate/
credit rating)
Accepting GTCs of TSO (link to TSO homepage)
Shipper
PRISMA
TSO
… …
* General Terms and Conditions
Direct initial registration of a shipper
14/01/2014 | Chart 16
Registration Process model
Shipper
PRISMA
TSO Checking mandate /
credit rating Activation
Activating shipper user for TSO on PRISMA
primary
Filling out and sending TSO
specific documents
…
14/01/2014 | Chart 17
Registration User interface
In case a shipper is not yet registered at PRISMA, the registration of the shipper takes place with the registration of the first shipper user.
A separate registration of the shipper company is not possible.
Enter EIC Code
1
2
Information to apply for an EIC Code
14/01/2014 | Chart 18
Enter company data 1
Registration User interface
Step 1: Check and complete the company data
14/01/2014 | Chart 19
Registration User interface
Step 2: Check and complete the contacts
Add more contacts for the shipper company (e.g. controlling, billing). It is mandatory to add at least one contact per category.
Enter the details of further contact persons
1
2
3
14/01/2014 | Chart 20
Registration User interface
Step 3: Enter the user details
Enter user details
1
2
14/01/2014 | Chart 21
Registration User interface
Step 4: Select one or more TSOs
For a successful registration the GTCs of the selected TSOs need to be accepted
Alternative 1: Select all TSOs
Alternative 2: Select individual TSOs
SNAM Rete Gas S.p.A.
14/01/2014 | Chart 22
Registration User interface
Step 5: Check your entered data and enter national identifiers
Enter national identifier codes, e.g. DVGW code (depends on the TSOs you selected).
2
Checking the entered information
1
14/01/2014 | Chart 23
Registration User interface
After the registration you will receive a registration confirmation by PRISMA You will be informed about more required documents for the TSOs
14/01/2014 | Chart 24
Registration Finalise registration & following steps
The shipper user sends all required documents to the TSO (set by each TSO: e.g. mandate/ solvency check).
1
2
3
Checking mandate /
credit rating
Filling out and sending TSO specific documents
Activation
Activating shipper user for TSO on PRISMA primary
… 1
2
3
The TSO checks the documents and activates the shipper user.
With activation by the first TSO the shipper will be sent a token (electronic PIN generator) with which the user can log onto PRISMA primary.
The shipper user is now able to trade on the primary capacity platform.
14/01/2014 | Chart 25
Registration Requirements for shippers
A shippers’ user can only acquire transport capacities on behalf of the company on PRISMA primary once being activated through the TSO
users who would like to join the platform have to pass the registration process If a shipper company is not yet registered, the registration of the shipper takes place
with the registration of its first user If no longer needed, the shipper and its users can be deactivated
Picture of the TSO’s approval status screen
14/01/2014 | Chart 26
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 27
Capacity Products General
All products are auctioned at predefined (different) points in time that can be found in the auction calendar.
The publication of the specific products which will be auctioned takes place in due time before the auction starts (1 month for annual products, 1 week for quarterly and monthly products, no advance publication for day-ahead products).
There are two different algorithms for auctions: the ascending clock auction algorithm for yearly, quarterly, and month-ahead products and the uniform-price algorithm for day-ahead products.
The ascending clock auction takes place in at least one bidding round (is the demand in the first bidding round higher than the capacity offered more bidding rounds will be used).
Day-ahead capacity is auctioned in a single bidding round via the uniform price algorithm
Interruptible capacity auctions are optional until NC CAM comes into force and are until then subject to national variations
14/01/2014 | Chart 28
Capacity Products Auction types
Monthly, Quarterly and Yearly products are auctioned by using an ascending-clock auctioning process
Auctioning takes place in (multiple) bidding rounds: The number of bidding rounds in an ascending clock auction that are needed until an allocation is possible depends on the course of the auction.
In each bidding round a bid for a certain quantity of capacity at a given price is submitted.
The duration of an ascending clock bidding round is one hour (exception: duration of the first bidding round is three hours)
The price steps are determined by the platform.
Day-Ahead products are auctioned in a process using the uniform-price algorithm
There is only one bidding round. A shipper can submit up to 10 bids per auction. The platform evaluates all bids in a descending order according to their price. The lowest price of all awarded bids is considered the clearing price.
14/01/2014 | Chart 29
Capacity Products Capacity publication & auction calendar overview
Mar Apr May June July Aug Sept Oct t Feb
1 month before the auction starts
Publication amount of capacity
Publication amount of capacity
Publication amount of capacity
1st Monday of March
1 week before the auction starts
1st Monday of June
1 week before the auction starts
3rd Monday of each month
Annual yearly FIRM Y1 – Y15
Publication amount of capacity
After closure of respective firm product
Annual yearly INTERR Y1 – Y15
Annual quarterly INTERR Q1 – Q4
Annual quarterly FIRM Q1 – Q4
Publication amount of capacity
After closure of respective firm product
Rolling M FIRM M1
Rolling M INTERR M1
Publication amount of capacity
After closure of respective firm product
14/01/2014 | Chart 30
Capacity Products Auction Times Overview
Product Frequency of auctions
Number of products per
auction
Start of the auction
Bidding round Publication amount of capacity
Publication of allocation results to
individuals
Auction algorithm
Auction Calendar for firm capacity products
Year annual
Y1 to Y15 1st Monday of March First round 3h:
09:00-12:00 Then 1h:
13:00-14:00 15:00-16:00 17:00-18:00
1 month before the auction
starts* no later than next business
day *
Ascending Clock auction Quarter Q1 to Q4 1st Monday
of June 1 week before the auction
starts * Month monthly M1 3rd Monday
Day daily D1 16:30 16:30-17:00 * 16:30 no later than 30 minutes *
Uniform Price auction
Auction Calendar for interruptible capacity products
Y,Q,M see above see above
The day after closure of
respective firm product 09:00.
see above
The day after closure of
respective firm product (7:00)
no later than next business
day *
Ascending Clock auction
Day daily D1 17:30 17:30-18:00 At the time the auction
starts
no later than 30 minutes *
Uniform Price auction
*09:00 *after closing of the bidding round
Time zone for all times: CE(S)T – Central European (Summer) Time
14/01/2014 | Chart 31
Capacity Products Auction Calendar for Yearly Products
Mar Apr May t Feb
Publication amount of capacity
Annual yearly FIRM Y1 – Y15
Publication amount of capacity
Annual yearly INTERR Y1 – Y15
Jan
Parameter Calendar entry Valid for:
Publication FIRM: 1 month before auction starts until 09:00 CE(S)T INTERRUPTIBLE: The day after closure of respective firm product (7:00 CE(S)T).
All yearly auctions
Start of auction FIRM: Recurring yearly the first Monday of March at 09:00 CE(S)T. INTERRUPTIBLE: The day after closure of respective firm product 09:00 CE(S)T
Y1 until Y15
14/01/2014 | Chart 32
Capacity Products Auction Calendar for Quarterly Products
Apr May June July Aug Sept t
Publication amount of capacity
Annual quarterly INTERR Q1 – Q4
Annual quarterly FIRM Q1 – Q4
Publication amount of capacity
Parameter Calendar entry Valid for:
Publication FIRM: 1 week before auction starts until 09:00 CE(S)T INTERRUPTIBLE: The day after closure of respective firm product (7:00 CE(S)T).
All quarterly auctions
Start of auction FIRM: Recurring yearly the first Monday of June at 09:00 CE(S)T. INTERRUPTIBLE: The day after closure of respective firm product (9:00 CE(S)T).
Q1 until Q4
14/01/2014 | Chart 33
Capacity Products Auction Calendar for Month-Ahead Products
Apr May … t …
Publication amount of capacity
Rolling M FIRM M1
Rolling M INTERR M1
Publication amount of capacity
Publication amount of capacity
Rolling M FIRM M1
Rolling M INTERR M1
Publication amount of capacity
Parameter Calendar entry Valid for:
Publication FIRM: 1 week before auction start until 09:00 CE(S)T INTERRUPTIBLE: The day after closure of respective firm product (7:00 CE(S)T).
All monthly auctions
Start of auction FIRM: Recurring monthly, algorithm: 3rd Monday of each month at 09:00 CE(S)T. INTERRUPTIBLE: The day after closure of respective firm product (9:00 CE(S)T).
M +1
14/01/2014 | Chart 34
Capacity Products Auction Calendar for Day-Ahead Products
Marketing of day-ahead D+1 (e.g. Tue for Wed)
constantly
D for D+1
t
Mar Feb Apr May
Parameter Calendar entry Valid for:
Publication FIRM: On the day of the auction until 16:30 CE(S)T INTERRUPTIBLE: On the day of the auction until 17:30 CE(S)T
D+1
Start of auction FIRM: Recurring daily 16:30 CE(S)T INTERRUPTIBLE: If offered, daily 17:30 CE(S)T
D+1
14/01/2014 | Chart 35
Capacity Products Bidding rounds
Day 1: 09:00 – 12:00 1st bidding round 12:00 – 13:00 processing & publishing 13:00 – 14:00 2nd bidding round 14:00 – 15:00 processing & publishing […] 17:00 – 18:00 4th bidding round As of day 2: 09:00 – 10:00 5th bidding round 10:00 – 11.00 processing & publishing […] 17:00 – 18:00 x bidding round
Yearly, quarterly and monthly products
Day-Ahead products
Single-step approach (uniform price auction algorithm)
Start 16:30 Bid-list allowing max. 10 additive
bids „Fill-or-kill“ option subject to
minimum amount condition Pro-rata allocation in case of
equally-ranked bids Price increment € 0,00001 Same price for all successful
bidders
14/01/2014 | Chart 36
Capacity Products Auction calendar
The auction calendar can be found in the customer centre The auction calendar gives an overview of the auction starts and the auction
publication dates as well as the transport duration of the products
The overview of the different dates can be filtered by products
14/01/2014 | Chart 37
Capacity Products Marketing order
If there are different capacity types available at an interconnection points for a certain transport period. They will be auctioned one after another
The marketing order is: 1. firm capacity 2. interruptible capacity* in some countries (Austria, Germany) the firm capacity may be divided into different
firm capacity types which may be marketed in a specific order** For further information about the marketing order of the capacity types in the affected
countries the respective TSOs can be contacted
* For German TSOs interruptible capacities is stilloffered via FCFS ** In responsibility of the TSOs
14/01/2014 | Chart 38
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 39
Booking Process Options for booking capacity
Two possibilities to book capacities on the PRISMA platform: At Interconnection Points (Market area interconnection points and Cross-Border
points) firm capacity is marketed via auctions. Interruptible capacity will, until NC CAM comes into force, only be offered by
some TSOs via auctions. The German TSOs still offer to book capacities according to the “first-come-first-
served“ principle (FCFS) at points to end consumers, production and storage facilities (Grid Access Points). Furthermore, you can book interruptible capacities according to the FCFS principle at German Interconnection Points.
Different possibilities to start one of the booking processes:
Auction overview : From a list of all available auctions you can directly access the screen for submitting a bid for a certain auction (booking process I)
Booking request: Direct entry to a FCFS booking if you already know at which TSO you want to book the capacity (booking process II)
Master data browser for interconnection points: see next slide
14/01/2014 | Chart 40
Booking Process
The master data browser can be found in the section „Network Information“
Search for network points according to certain criteria
Displays the different possible actions that are available at a specific network point
Master data browser for interconnection points
14/01/2014 | Chart 41
Booking Process Master data browser for interconnection points
The master data browser contains all the Network Points with detailed information provided by the TSO. These are for example: − TSO that markets the interconnection point including their GTCs − Name of the interconnection point − Price components: regulated tariff, price for measuring stations etc. − Gas type (H-gas, L-gas) − Market area − Entry or exit
Depending on the type of the network point it is shown if there are any auctions available. Both auctions or an alternative FCFS bookings (Grid Access Points) can be started from here.
14/01/2014 | Chart 42
Booking Process Master data browser for interconnection points
When you select an interconnection point all details of this point are displayed. In case of a bundled interconnection point a link will guide you to the two involved
unbundled interconnection points.
14/01/2014 | Chart 43
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 44
Ascending Clock Auction Process Auction Overview
In the auction overview all closed auctions that have been executed on the PRISMA platform and all future auctions that have already been published are listed.
The overview can be changed using different viewing options e.g. sorting or filtering.
A legend that describes the used icons can be found at the bottom of the page.
14/01/2014 | Chart 45
Ascending Clock Auction Process Auction Overview
In the auction overview all closed auctions that have been executed on PRISMA primary and all future auctions that have already been published are listed.
Choice of different filters
Choice of further filters in order to limit the amount of displayed auctions.
14/01/2014 | Chart 46
Ascending Clock Auction Process Auction Details
The action “View Auction” shows you all details and relevant data for the selected auction.
You can open the screen to submit a bid from this detailed view or from the auction overview.
Back to auction overview
Submitting a new bid
Information about the current status of the auction
Overview of tariff components
14/01/2014 | Chart 47
Ascending Clock Auction Process Auction Details
Please note: The unit for the different price components for an auction product may vary from TSO to TSO!
Please note: The unit for the regulated tariff can be per product runtime, per day, or per year.
Please note: The unit for the other price components can be per product runtime, per day, per year or non-performance related (e.g. per invoice)!
14/01/2014 | Chart 48
Ascending Clock Auction Process Process map
Shi
pper
Evaluate available capacity
Design standard products
Transfer to platform
Start auction
Pla
tform
TS
O
Submit a bid
Evaluate bidding round
Open next bidding round
Send result to TSO and
Shipper
Publish result
Book capacity and setup contract
Receive confirmation
x
14/01/2014 | Chart 49
Ascending Clock Auction Process Ascending clock bidding process
In auctions a bid is placed for a certain quantity of capacity at a given price (not the other way around!).
The price steps are determined by the platform. All auctions start at the regulated tariff
In case that the demand = the available capacity the auction is closed
B4 reduces his bid in the 3. bidding round
B5 and B6 don`t quote a bid in the 3. bidding round
Demand = available capacity Auction closes at clearing price P2
P2
Price
Price
14/01/2014 | Chart 50
Ascending Clock Auction Process Ascending clock bidding process
In case that the demand < available capacity from the 1. bidding round onwards: Undersell
In case of an undersell: additional bidding rounds are opened with small price steps
B4 reduces his bid in the 3rd bidding round
B5 and B6 don`t quote a bid in the 3. bidding round
Demand < available capacity Undersell
Reset to P1 + surcharge of small price step P3
All B are allowed to bid again (also B4 to B6)
All B leave the quantities of their bids unchanged
Demand > available capacity
3.
4.
14/01/2014 | Chart 51
Ascending Clock Auction Process Ascending clock bidding process
Additional bidding rounds with small price steps
Demand < available capacity at small price steps = Allocation
Surcharge small price step P4 All B keep the quantity of their
bids unchanged Demand > available capacity
Surcharge small price step P5 B1, B2, B3 keep the quantity
of their bids unchanged B4 reduces the quantity of the
bid B6 doesn’t bid anymore Undersell End of auction at the clearing
price P5
3.
4.
5.
6.
3.
4.
5. Small price step P3
Small price step P4
Small price step P3
Small price step P4
Small price step P5 = clearing price
Large price step P2
Large price step P2
P1
P1
14/01/2014 | Chart 52
Ascending Clock Auction Process Price steps
The auction surcharge is shown from the 1st bidding round onwards and is an additional charge to the regulated tariff.
Depending on the auctioning situation the surcharge can occur in two different types: large and small price steps.
A small price step is always 1/5 of the large price step. The price steps may vary depending on product and country*. Example for price steps:
The auction surcharge will always be shown in cent per kWh/h per product run time
Capacity product Large price steps € ct/kWh/h/runtime
Small price steps € ct/kWh/h/runtime
Yearly product 10 2
Quarterly product 2,5 0,5
Monthly product 1 0,2
* price steps are defined by the national regulators; overview of price steps will be published on PRISMA primary
14/01/2014 | Chart 53
Ascending Clock Auction Process Submitting a bid – the 1st bidding round
In order to submit a bid you can open a screen from the auction overview as well as from the auction details screen.
To participate in an auction you have to place a bid in the first bidding round. Participating at a later bidding round is not possible.
Submit the bid
Enter the bid for a capacity quantity at the regulated tariff; the sum of all bids of one TC must not exceed the available capacity
Accept the GTCs of the TSO
Enter a balancing group or a Portfolio Code (depending on the TSO this may be optional or mandatory)
14/01/2014 | Chart 54
Ascending Clock Auction Process Editing or cancelling your bids
Every bid that was placed on PRISMA primary can be edited or withdrawn as long as the bidding round is still open
This can be done in the “auction details” of the respective auction
Possibility to edit or withdraw a bid
14/01/2014 | Chart 55
Ascending Clock Auction Process End of the 1st bidding round
Details of 1st bidding round If the evaluation of the bidding round shows that the capacity demand is smaller than
or equals the available capacity the auction ends at the regulated tariff and the bids are allocated. − You will get the information about the allocation by email. − The result of the auction (the sum of all allocations) is published on PRISMA in
the auction details.
If the capacity demand is higher than the available capacity (“oversell”), the 2nd bidding round will be opened (see next slide).
14/01/2014 | Chart 56
Ascending Clock Auction Process Further bidding round(s) in case of an oversell
If an ‘oversell’ occurs, the next bidding round will be opened. The surcharge that is added to the regulated tariff equals a large price step. The sum of the bids of the prior bidding round will be displayed. At the bottom of the page all bids of any user of the shipper from the previous or the current
bidding round are displayed
Information about the current bidding round and the oversell situation
Shows the sum of the demanded capacity from the previous bidding round
Shows bids placed by all of a shipper’s users including the bidding time and quantity
14/01/2014 | Chart 57
Ascending Clock Auction Process Submitting a bid from the 2nd bidding round – Large price steps
From the 2nd bidding round onwards the capacity quantity of the previous bid can be viewed while placing the next bid.
You may decrease your quantity bid in later rounds but cannot increase your quantity bid at a later stage.
As a default value for the new bid the quantity of the previous bid is displayed.
14/01/2014 | Chart 58
If the demanded capacity is smaller than the available capacity an “undersell” appears.
In such a case a new bidding round with a small price step is opened and a small price step is added to the surcharge of the previous bidding round (the last big price step).
In the bidding round with the small price step the quantity bid of the shipper can only range between the amount placed in the last two big price steps.
Ascending Clock Auction Process Submitting a bid in further rounds in case of a small price step
4,000
14/01/2014 | Chart 59
Ascending Clock Auction Process Auction close
Information about closed auctions are available in the auction overview.
Product details are displayed
Auction results are displayed
14/01/2014 | Chart 60
Ascending Clock Auction Process Competing products
In some situations capacity products may be competing against each other In case of such a competition you will be informed about it in various places
Displays the auction details of the competing capacity product
Information text about the competing situation
Displays the competing capacity quantity by clicking ‘in competition with another capacity’
14/01/2014 | Chart 61
Ascending Clock Auction Process Competing products
Competing products In an auction with competing products you can also see the bids placed by other
users of your company for the competing product (on the right side of this page).
Additional information to the bids of all users of your company
14/01/2014 | Chart 62
Ascending Clock Auction Process Process Competing products
TSO A TSO B
100 90
90 Bundle
TSO C 40 80 Bundle AC
AB
OR
TSO A TSO B
200 90
TSO C 40
90 Bundle
Unbundle 40 Bundle AC
AB
Available capacity A > Sum of B and C available capacity → Several bundle products are created, among them one is unbundled
→ Uniform price auction
Available capacity A < Sum of B and C available capacity → Several bundle products are created
→The sum of allocated capacity can’t exceed the available capacity of TSO A → Uniform price auction in parallel
14/01/2014 | Chart 63
Ascending-Clock Auction Process Process Competing Auctions
70
Round AB demand AC demand AC + AB demands
1 70 150 220
Allocation AB Allocation AC
0 0
Bundle AB Bundle AC
Available capacity on A
40 90
100
150
220
AB demand + AC demand > Available capacity A 1 Large Price Step
Pric
e
Pric
e
Pric
e
14/01/2014 | Chart 64
Ascending-Clock Auction Process Process Competing Auctions
50
Round AB demand AC demand AC + AB demands
1 70 150 220
2 50 80 130
Allocation AB Allocation AC
0 0
0 0
40 90
100
80
130
AB demand + AC demand > Available capacity A 1 Large Price Step
Bundle AB Bundle AC
Available capacity on A
Pric
e
Pric
e
Pric
e
14/01/2014 | Chart 65
Ascending-Clock Auction Process Process Competing Auctions
45
Round AB demand AC demand AC + AB demands
1 70 150 220
2 50 90 140
3 45 50 95
Allocation AB Allocation AC
0 0
0 0
0 0
40 90
100
50
95
At least one of the products has a demand lower than the available
capacity Bundle AB : 1 Large Price Step
(LPS) Bundle AC : 1 Large Price Step +
1 Small Price Step (SPS)
Bundle AB Bundle AC
Available capacity on A
Pric
e
Pric
e
Pric
e
14/01/2014 | Chart 66
Ascending-Clock Auction Process Process Competing Auctions
38
Allocation AB Allocation AC
0 0
0 0
0 0
0 0
Bundle AB
40 90
100
65
60
Round 5 = 2 LPS + 1 SPS
Two auctions become independant
Avalable capacity for AC product is equal to
60
Round AB demand
1 70
2 50
3 45
4 38
AC demand
150
90
50
65 1st LPS (*) 1st SPS (**) 3rd LPS (*)
Bundle AC
Round 5 = 1 LPS + 2 SPS
(*) LPS : Large Price Step (**) SPS : Small Price Step
Pric
e
Pric
e
14/01/2014 | Chart 67
Ascending-Clock Auction Process Process Competing Auctions
Allocation AB Allocation AC
0 0
0 0
0 0
0 0
35 55
Round AB demand
1 70
2 50
3 45
4 38
5 39
AC demand
150
90
50
65
55 2nd LPS (*) 1st SPS (**)
1st LPS (*) 2nd SPS (**)
39
40
100
55
60
Allocation
Bundle AC Bundle AB
Allocation
(*) LPS : Large Price Step (**) SPS : Small Price Step
Pric
e
Pric
e
14/01/2014 | Chart 68
Ascending Clock Auction Process Capacity upgrade*
When placing a bid you can request an upgrade of your already booked interruptible capacity to firm capacity.
The request can be changed or cancelled in every further bidding round. The TSO will inform you directly after the close of the auction about the upgrade
completion. Tick the check box to
upgrade your already booked capacity
Enter the data that the TSO needs for the upgrade
If the capacity was not acquired over PRISMA primary you need to state this here
If you acquired the capacity you want to upgrade on PRISMA primary, please insert the Deal-ID of that transaction
*not supported by all TSOs
14/01/2014 | Chart 69
By using the so-called comfort function you have the possibility to submit a bid for an auction in advance
The comfort function can be started from the auction details screen or from “Comfort bids” in the “My PRISMA primary” section
The automated bid can only be placed by a user after an auction has been published on the platform.
Bid consists of multiple rows of price demand pairs according to the small price step.
Ascending Clock Auction Process
Comfort function – automated bidding
Creating a new comfort bid after publication of the auction
14/01/2014 | Chart 70
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 71
Uniform Auction Process (Day-Ahead) Process map
Evaluate available capacity
Design standard products
Transfer to platform
Start auction
Pla
tform
TS
O
Submit a bid
Evaluate bidding round
Send result to TSO and
Shipper
Publish result
Book capacity and setup contract
Receive confirmation
Shi
pper
14/01/2014 | Chart 72
Uniform Auction Process (Day-Ahead) Day-ahead bidding process
A2
Placing bids
A1
amount
surcharge
amount
B1
B2
surcharge
B3
Bidder A Bidder B Available capacity
Available capacity
Price component of
a bid
Volume component of
a bid
14/01/2014 | Chart 73
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
A2
Placing bids
A1
amount
surcharge
amount
B1
B2
surcharge
B3
Bidder A Bidder B Available capacity
Available capacity
Minimum amounts
Price component of
a bid
Volume component of
a bid
14/01/2014 | Chart 74
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
A2
Placing bids
A1
amount
surcharge
amount
B1
B2
surcharge
B3
Bidder A Bidder B Available capacity
Available capacity
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
Ranking according to price components
14/01/2014 | Chart 75
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
Available capacity
B1
B2 A2
surcharge
B3
Example 1: Fill-or-kill: „ fill“
14/01/2014 | Chart 76
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
A1
amount
B1
B2 A2
surcharge
B3
Available capacity
X B2 = equilibrium bid Minimum amount < rest B2 filled
B3: price component < clearing price No consideration of B3
Example 1: Fill-or-kill: „ fill“
14/01/2014 | Chart 77
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
A1
amount
B1
B2 A2
surcharge
B3
Available capacity
X B2 = equilibrium bid Minimum amount < rest B2 filled
B3: price component < clearing price No consideration of B3
Example 1: Fill-or-kill: „ fill“
Clearing price = price component of B2
14/01/2014 | Chart 78
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
Example 2: Fill-or-kill: „ kill“
14/01/2014 | Chart 79
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
A1
amount
B1
B2 A2
surcharge
B3
B3 = equilibrium bid Full allocation
B2: Minimum amount > rest B2 killed
Example 2: Fill-or-kill: „ kill“
X
Available capacity
14/01/2014 | Chart 80
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2 A2
surcharge
B3
A1
amount
B1
B2 A2
surcharge
B3
B3 = equilibrium bid Full allocation
B2: Minimum amount > rest B2 killed
Example 2: Fill-or-kill: „ kill“
X
Clearing price = price component of B3
Available capacity
14/01/2014 | Chart 81
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2
A2
surcharge
A3
Example 3: Pro-rata allocation between equally ranked bids
14/01/2014 | Chart 82
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2
A2
surcharge
A3
A1
amount
B1
B2 A2
surcharge
A3
Pro-rata allocation between B2 and A3 as long as minimum amount condition is fulfilled for both bids
Example 3: Pro-rata allocation between equally ranked bids
Available capacity
14/01/2014 | Chart 83
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price
A1
amount
Available capacity
B1
B2
A2
surcharge
A3
A1
amount
B1
B2 A2
surcharge
A3
Pro-rata allocation between B2 and A3 as long as minimum amount condition is fulfilled for both bids
Example 3: Pro-rata allocation between equally ranked bids
Clearing price = price component of B2 or A3 respectively
Available capacity
14/01/2014 | Chart 84
Clearing price in case of no intersection between demand curve and available capacity In general, the market clearing price equals the price component of the lowest
successful bid
In case no intersection between demand curve and supply curve (available capacity) exists, the starting price of the respective auction (e.g. regulated tariff) will be considered as the clearing price
Uniform Auction Process (Day-Ahead) Determining the Clearing Price
A1
amount
B1
tariff / surcharge Available capacity
Clearing price = starting price
14/01/2014 | Chart 85
For day-ahead auctions a simplified auctioning method is used. This means that there is only one bidding round in which you enter the desired capacity
that you are prepared to buy up to a certain price. It is possible to place up to 10 bids per shipper for a day-ahead auction.
Uniform Auction Process (Day-Ahead) Details of a Day-Ahead auction
Enter your maximum capacity amount
Enter your minimum capacity amount
Enter your bid
14/01/2014 | Chart 86
Uniform Auction Process (Day-Ahead) Competing Day-Ahead Auctions
TSO A TSO B
100 90
90 Bundle
TSO C 40 40 Bundle AC
AB
OR
TSO A TSO B
200 90
TSO C 40
90 Bundle
Unbundle 40 Bundle AC
AB
Available capacity A > Sum of B and C available capacity → Several bundle products are created, among them one is unbundled
→ Uniform price auction
Available capacity A < Sum of B and C available capacity → Several bundle products are created
→The sum of allocated capacity can’t exceed the available capacity of TSO A → Uniform price auction in parallel
14/01/2014 | Chart 87
Uniform Auction Process (Day-Ahead) Competing Day-Ahead Auctions
50 40
Bundle product AC Bundle product AB
40
90
80 1
Bundle product AC = 40 Bundle product AB= 90 Available capacity A = 100
Pric
e
Pric
e
1
2
Shipper 1
Shipper 2
14/01/2014 | Chart 88
Uniform Auction Process (Day-Ahead) Competing Day-Ahead Auctions
10 40
40
90
80 1
Pric
e
Pric
e
1
2
1st Step: Intermediate evaluation
All bids pass the intermediate evaluation for product AC Only 1 bid passes the intermediate evaluation on product AB, the second
one is prorated in order to meet the available capacity
40 X
Bundle product AC Bundle product AB
Shipper 1
Shipper 2
14/01/2014 | Chart 89
Uniform Auction Process (Day-Ahead) Competing Day-Ahead Auctions
2nd Step: Final Allocation
Pric
e
80
40
10
100
Pric
e
80
16
4
100
Bundle product AC & AB Bundle product AC & AB
All bids placed on bundle product AB and AC, coming from the 1st step, are evaluated
CAM network code allocation rules are applied
Shipper 1
Shipper 2
14/01/2014 | Chart 90
Uniform Auction Process (Day-Ahead) Comfort Function for Day-Ahead auctions
By using the so-called day-ahead comfort function you have the possibility to submit bids for day-ahead auctions in advance.
The comfort function can be started from the auction details screen or from “Comfort bids” in the “My PRISMA primary” section
Creating a new comfort bid in advance
14/01/2014 | Chart 91
Uniform Auction Process (Day-Ahead) Comfort Function for Day-Ahead auctions
When using the comfort function for day-ahead auctions you have to select a time period during which you want to automatically use your defined bid for certain day-ahead products.
Entering a time period in which a bid is placed automatically for a day-ahead product
14/01/2014 | Chart 92
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 93
Booking Process for Bundled Products Bundled capacity process
[ ]
PRIS
MA
TSO
1
Ship
per
* Bilateral coordination
between TSOs
Upload raw data or
standard product
Create & match bundled and unbundled products
Assign products to auction
rounds Start auction
Send result to shipper and
TSO
* Bilateral coordination
between TSOs
Upload raw data or
standard product
Receive auction result
Book capacity
Book capacity
Setup contract
Setup contract
Receive contract from
TSO 1
Receive contract from
TSO 2
TSO
2
14/01/2014 | Chart 94
Booking Process for Bundled Products Bundled capacity: tariffing
The payable price after auction consists of:
Regulated capacity tariff TSO 1
+ Additional fees TSO1
+ Regulated capacity tariff TSO2
+ Additional fees TSO2
= Starting price
+ Auction premium
(Surcharge through price steps)
= Payable price for shipper
division factor between TSO1 & TSO2
(default 50% / 50%)
information from TSOs
14/01/2014 | Chart 95
Booking Process for Bundled Products Auction Details
The bundling of capacities takes place at all possible interconnection points In case of a bundled auction you will be informed about it in various places The way a bundled product is displayed is different that of an unbundled product
2 interconnection points, market areas, TSOs, capacity types, prices etc. are shown
14/01/2014 | Chart 96
Booking Process for Bundled Products Submitting a bid
When submitting a bid for a bundled product you have to accept the GTCs for each TSO and enter (optionally) a balancing group / portfolio code for each TSO.
Enter a balancing group/ portfolio code for TSO 1 (depending on the TSO optional or mandatory)
Enter a balancing group/ portfolio code for TSO 2 (depending on the TSO optional or mandatory)
Accept the GTCs of TSO1 & TSO 2
14/01/2014 | Chart 97
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 98
FCFS Booking Process Definition
The FCFS Booking Process Besides the possibility to acquire capacities via auctions shippers also have the
possibility to book certain capacities on a first-come-first-served basis In FCFS bookings the platform acts as an intermediary between shipper and TSO
with regard to all booking information (e.g. request, confirmation of availability).
First-come-first-served means that Capacity is sold at the regulated tariff. The user requests a certain amount and the TSO checks whether the requested
amount is available. If the requested capacity is not available, the TSO may send alternatives, that are
then presented on the platform.
14/01/2014 | Chart 99
FCFS Booking Process Process overview
The process for booking transport capacities following the “first-come-first-served” principle is divided into five steps.
In this booking process PRISMA acts as an intermediary between the shipper and the TSO for all information concerning the booking (e.g. request, confirmation of availability).
14/01/2014 | Chart 100
FCFS Booking Process Process overview
Shi
pper
P
RIS
MA
Choose alternative and book it bindingly
Forwar-ding the
request to the TSO
Entering data of the requested capacity
Displaying the
alterna-tives of the
TSO
Capacity available? TS
O
Forward the
booking to the TSO
Booking capacity
Confirming the
booking
Display the booking
confirma-tion
Book the capacity bindingly
Display the confir-
mation of availability
Sending contract to
Shipper
Receiving contract
no
yes
Booking request Binding booking
14/01/2014 | Chart 101
FCFS Booking Process Step 1: Selecting a TSO*
You do not have to be logged in in order to start a booking request. First, you select the TSO you want to send a booking request to.
Possibility to filter: Listing of all TSOs or only those you have a trading relation with
Select a TSO
*only possible if TSO supports FCFS
14/01/2014 | Chart 102
FCFS Booking Process Step 2: Selecting a network point
2
Selecting a network point
1
After the selection of the TSO you will be shown a list of available interconnection points.
14/01/2014 | Chart 103
FCFS Booking Process Step 3: Choosing the capacity type
On this page you can choose what kind of capacity you would like to request. This is the last step before sending your request to the TSO system.
Select the capacity; for bundled network points the drop-down menu only contains interruptible capacity (firm capacities are sold in auctions); restrictions for firm capacity categories (BZK) will additionally be shown
Entering of the requested capacity amount and possibility to enter an upgrade request
Choosing the start and end date; the booking deadlines are being checked straight away
14/01/2014 | Chart 104
FCFS Booking Process Step 4: Checking available capacity
If the requested capacity is available the process carries on in step 5. If the requested capacity is not available the TSO will reject the request. The process
stops at this stage. Additionally, the TSO may suggest alternative capacities which partly cover your
request.
Capacity available Alternatives
14/01/2014 | Chart 105
FCFS Booking Process Step 5: Booking of capacity
before you make a binding booking, a summary of your booking details will be shown if you aren’t logged in yet,
this will be requested before you can submit your booking.
Enter a balancing group / portfolio code (depending on the TSO optional or mandatory)
Accept the GTCs of the TSO
1
2
Binding confirmation and sending of the booking
3
14/01/2014 | Chart 106
FCFS Booking Process Step 5: Booking of capacity (bundled products)
In order to make a booking at a bundled interconnection point you may be asked to enter two balancing groups and accept the GTCs twice, once for each TSO.
Information about the product and tariffs divided per TSO
Accept the GTCs of TSO 1 and 2
Enter a balancing group/ portfolio code for TSO 1 and 2 (depending on the TSO optional or mandatory)
14/01/2014 | Chart 107
FCFS Booking Process Completing a booking
Once the capacity has been booked successfully in the TSO system a message will appear to you on PRISMA primary.
Afterwards you will receive a confirmation from the TSO.
Shows the contract position number in case it is sent by the TSO
Shows the booking details
14/01/2014 | Chart 108
FCFS Booking Process Overview of completed bookings
If you are logged in you can find a list of your own bookings in the “booking” section. This list contains all bookings you made over PRISMA primary.
14/01/2014 | Chart 109
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 110
My PRISMA primary Overview
After logging in to the platform the personalised version of the platform is available with the following functionalities
Dashboard Listing of contract positions Administration of the user
and shipper company Account data
14/01/2014 | Chart 111
The dashboard summarises auctions and interconnection points as well as completed bookings etc. that you have saved.
Bids you (and the other users of your company) have placed in running auctions are shown here.
My PRISMA primary ‘Dashboard’
Possibility for further actions
Possibility to minimize or maximize the list
14/01/2014 | Chart 112
My PRISMA primary ‘Dashboard’
Opens the screen to edit a bid for the selected auction
Opens the detailed view of the selected auction
14/01/2014 | Chart 113
My PRISMA primary ‘Dashboard’
Opens the detailed view of the selected interconnection point
Deletes the interconnection point from the list
Opens the list of auctions taking place at this interconnection point
Starts a FCFS-booking request
In case an auction is published or starts at a “watched network point” the user will be informed via email
14/01/2014 | Chart 114
My PRISMA primary ‘Contract Details’
Here you can find information about transactions you made in the past
Opens a detailed view of the contract position
Possibility to filter by certain criteria
14/01/2014 | Chart 115
At ‘Return Capacity’ you have the possibility to give your booked capacity back to the TSO (surrender), independent where you booked the capacity
Note: Surrender is not applicable for all TSO’s and subject to national regulatory regime
My PRISMA primary ‘Contract Details’
Select the contract for the capacity you want return / surrender
Enter the time where you want to return / surrender capacity
Enter the amount of the returned / surrendered capacity
14/01/2014 | Chart 116
Here you can find an overview of your comfort bids you placed
My PRISMA primary ‘Comfort Bids’
Add a new comfort bid order
Possibility to change or deactivate the comfort bid order
14/01/2014 | Chart 117
My PRISMA primary ‘Account Maintenance’
In this section the user can view and change all data they have entered during the registration process
It is divided into: − My Details (your
personal data) − Company Information − Contacts − Status
14/01/2014 | Chart 118
My PRISMA primary ‘Account Maintenance’
In ‘My Details’ you can edit your personal data. Furthermore, you can deactivate your user account. Note: if your user account is the company’s last account all trading relations of your
company will be deactivated.
Possibility to edit your personal data
Possibility to deactivate the user account
14/01/2014 | Chart 119
My PRISMA primary ‘Account Maintenance’
In ‘Company Information’ you can edit the data entered for your company. Some of the data can only be changed by the PRISMA primary administrator via a
written requests e.g. the bank account data .
Possibility to edit the company data
Link to the templates available in order to change the “sensitive” data
14/01/2014 | Chart 120
My PRISMA primary ‘Account Maintenance’
In ‘Contact Persons’ you can see which data were entered for the contact persons of your company during the registration process.
It is mandatory to enter at least one contact person per section.
Possibility to edit the data of the contact persons or to add further contact persons
14/01/2014 | Chart 121
My PRISMA primary ‘Account Maintenance’
In the ’Status’ section you can find the trade relations your company maintains with individual TSOs.
In case that your company is still in the registration process and has not yet been activated by a TSO the status of your relation will be ‘inactive’.
Possibility to add a further TSO
Possibility for further actions e.g. the deactivation of a trade relation
Information about the current relation status of the with the TSO
14/01/2014 | Chart 122
Contact Further information
Further information on platform features, interconnection points as well as all necessary shipper documents can be found in the Download Section of PRISMA primary at https://primary.prisma-capacity.eu.
Additionally, you can also find the training presentation as well as information on regional specifics in the download section of the Customer Centre
14/01/2014 | Chart 123
Contact Contact information
Information before registering on the platform PRISMA Hotline Tel.: +49 341 699 2990 66 primary@prisma-capacity.eu
For technical issues after registration
User Help Desk Tel.: +49 341 699 2990 69 support-primary@prisma-capacity.eu
For TSO related issues Please call your individual TSO contact
14/01/2014 | Chart 124
About PRISMA
Role Definitions
Registration
Capacity Products
Booking Process
− Ascending Clock Auction Process
− Uniform Auction Process (Day-Ahead)
− Booking Process for Bundled Products
− FCFS Booking Process
My PRISMA primary
The new secondary functionality
Agenda
14/01/2014 | Chart 125
In January 2014 the new integrated secondary functionality will be launched on the PRISMA platform…
PRISMA Platform
Supporting processes Auctions FCFS Surrender
Secondary functionalities will be integrated as a separate module into the existing PRISMA platform
Secondary functionalities will be integrated seamlessly in the existing platform
Supporting processes like registration, grid point master data etc. will be used by all functionalities
1
2
2
Secondary
1
14/01/2014 | Chart 126
Supported Trade Proposals:
Product Runtime: only flexible products shall be used but the flexible product
should support standard products as well
Both assignment & transfer of usage rights contracts will be supported;
TSO’s can configure which transaction types are allowed to be traded at the
corresponding points
Supporting processes
No separate registration, but extra information can be requested by a TSO
Data provided by a TSO (credit limits, grid points, balancing group and portfolios) will
be available for PRISMA primary and secondary
Note: * Not all procedures will be supported in all the countries
Basic Principles of the new secondary functionality… (2/3)
14/01/2014 | Chart 127
Important rules to place a request/offer
Lead time constraints can apply to the time period between the deal closure and the product utilisation
Negative prices are allowed, i.e. Selling Shipper paying Buying Shipper to take over capacity
Unbundled entry & exit products at the same IP can be sold as a bundled Trade Proposal
The Initiating Shipper can indicate whether it is allowed to buy/sell only a part of the offered/requested amount or period. Additionally, a minimum amount or period per deal can be set.
Premises All non-OTC trading procedures are completely anonymous until the deal is concluded;
only then are the parties revealed to each other The counterparties can remain completely anonymous during the entire contract
lifecycle, if supported by the TSO
Basic Principles of the new secondary functionality… (3/3)
14/01/2014 | Chart 128
A New Secondary Functionality Additional platform feature - Trader Lists
Trader Lists can be applied by a shipper, limiting the number of possible counterparties to those he trusts
A shipper can maintain as many Trader Lists as needed
Per product or bid only one Trader List can be applied
As long as a Trader List is used by at least one active Trade Proposal, a shipper can only add other shippers to the list, but not remove them
As long as a trader list is used in at least one active Response, a shipper can neither add nor remove shippers to/from the list
14/01/2014 | Chart 129
A new secondary functionality for a European capacity market.
The new secondary functionality will offer various ways to for shippers to trade
capacity
Over-The-Counter (OTC) – The shippers agree on a capacity trade in advance and
only publish the respective deal details on the platform.
First Come First Served (FCFS) – a shipper places a binding offer/capacity request
and sets a fixed price. An interested counterparty can buy/sell the capacity
immediately at the set price.
Call for Orders (CFO) – A shipper creates a capacity offer or request and can select
which of the incoming bids/offers is most suitable.
Note: * Not all procedures will be supported in all the countries
14/01/2014 | Chart 130
Trading Procedures How to read the diagrams
Only positive cases shown i.e. feedback loops for failed validations etc. are not included
Activity on the
platform
Manual or backend activity
Multiple actors
14/01/2014 | Chart 131
Trading Procedures OTC
Vend
or
Buy
er
Pla
tfor
m
Place offer
Validate offer
Accept or reject deal
Validate response
Publish deal
Receive deal data
Receive deal data
Receive deal data
Notify counter-
party
Can also be the other way around
TSO
*
* 2 TSOs for bundled products ** Based on the decision of the TSO
Validate offer**
14/01/2014 | Chart 132
Trading Procedures OTC
Rules that apply for OTC deals A deal can be put on the platform either by the vendor or the buyer The counterparty that accepts or rejects the deal cannot change the price The vendor can also send the OTC request to several parties
14/01/2014 | Chart 133
Call for Orders (Offer)
Trading Procedures Ve
ndor
B
uyer
P
latf
orm
Place offer
Validate offer
Validate response
Select buyer
Publish deal
Receive deal data
Receive deal data
Receive deal data
Respond to offer
Publish offer
TSO
*
* 2 TSOs for bundled products ** Based on the decision of the TSO
Validate offer**
14/01/2014 | Chart 134
Trading Procedures Call for Orders (Request)
Vend
or
Buy
er
Pla
tfor
m
Place request
Validate request
Validate offer
Select vendor
Publish deal
Receive deal data
Receive deal data
Receive deal data Offer
capacity
Publish request
TSO
*
* 2 TSOs for bundled products
14/01/2014 | Chart 135
Trading Procedures Call for Orders (Offer / Request)
Rules that apply to Call for Orders When placing a request, the buyer can set a maximum price he is willing to pay When placing an offer, the vendor can set a minimum price he is willing to accept Both the buyer and the vendor have to set the maximum amount of capacity that they
request/offer. In addition, a minimum deal size can be set (see basic principles) The procedures will be fully anonymous until the deal has been concluded i.e. purely
based on capacity facts; this implies that the deal cannot be negotiated
14/01/2014 | Chart 136
FCFS (Offer)
Trading Procedures Ve
ndor
B
uyer
P
latf
orm
Place offer
Validate offer
Request capacity
Validate request
Publish deal
Receive deal data
Receive deal data
Receive deal data
Publish offer
TSO
*
* 2 TSOs for bundled products ** Based on the decision of the TSO
Validate offer**
14/01/2014 | Chart 137
FCFS (Request)
Trading Procedures Ve
ndor
B
uyer
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