SEEPEX – contribution to efficient SEE...
Transcript of SEEPEX – contribution to efficient SEE...
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SEEPEX – contribution to efficient SEE REM
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Day-Ahead Market – SEEPEX project
OTC+ Power Exchange
OTC only
OTC + ongoing PX projects
• Strategic partnership with regional TSOs (CG Prenos in initial stage), service providers (European PX’s), market makers (main regional production companies), IFI’s
Public Enterprise “Elektromreža Srbije”
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SEEPEX Price Reference issue
MCP
MWh
Electricity offered
Electricity DemandMCV
For every hour on a day-ahead base
Price EUR
Volume
Public Enterprise “Elektromreža Srbije”
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SEEPEX Day-ahead Market Model
Public Enterprise “Elektromreža Srbije”
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SEEPEX Day-ahead Market Model
� Definition of the day-ahead products� HOURLY PRODUCTS [1 … 24]� BASE [1-24]� PEAK [6-21]� OFF-PEAK1 [1-5, 22-24]� EURO-PEAK [9-20]� EURO-OFF-PEAK1 [1-8, 21-24]
� Auction phases’ timing to be determined in cooperation with market participants, possible outcome:� Call Phase: open 14 days in advance, closing at 9:00� Freeze Phase: 9:00 – 9:15 (time to call Mistrade)� Price Determination Phase: (9:15 – 10:00)
� Basic auction parameters� Minimum deal 1 MWh� Minimum price step in orders 0,10 €/MWh� Price limits for orders
� Minimum price 0 €� Maximum price 3000 €
� Fixing method:� Closed auction, calculation of Market Clearing Prices & Market Clearing Volumes
� Market Coupling and Market Splitting may demand introduction of new parameters and/or other changes
Public Enterprise “Elektromreža Srbije”
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SEEPEX Day-ahead Role Model
Members
4) 11:30 (D-1) - Nominations
6) 00:00-24:00 (D) – Physical delivery
2) 9:15 (D-1) - Fixing
SEEPEX
Exchange
SEEPEX
Clearing
EMS
System
Operations
Economics, Purchase & Finance
Public Enterprise “Elektromreža Srbije”
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� SERPEX will promote effective implicit allocation of cross-border capacity
� With all relevant stakeholders (Regulators, TSOs, PX) and regional partners - involvement in the region-wide market coupling
Cooperation with Strategic Partners:
Development Stage I� Region-wide price formation - initially
multiple zonal price formation (perception that congestion consists on all borders)
� Transparent and non-discriminatory access to the market, standardization of products etc.
� Introduction of physical swap products – linking isolated markets with standardised products resulting in no cross-border transfers
Development Stage II� Market coupling – integrated regional price formation
(expected uniform wholesale price index for more than 50% of the time)
� Ensuring efficient use of interconnector capacity
SEEPEX contribution to REM
Public Enterprise “Elektromreža Srbije”
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SEEPEX Implicite Capacity Allocation
SEEPEX Implicite Allocation Focus
Public Enterprise “Elektromreža Srbije”
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MCP A MCP B Area B
GA
GB
DA
DB
Area A
Energy Energy
DA + ATCAB
GB+ATCAB
P*A�
P*B�
ATCAB ATCAB
�
EA
PA
�PB
EB
PAB”
SEEPEX Implicite Capacity Allocation
Public Enterprise “Elektromreža Srbije”
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SEEPEX Social Welfare Increase
Public Enterprise “Elektromreža Srbije”
Export area A Import area B Available XB capacity
ImportExport ATC
Supply surplus
Demand surplus
Additional Supply surplus
Additional Demand surplus
TSO incom
MCP Import areaMCP Export area
price
quantity
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SEEPEX Strategic Goals
Cooperation with Strategic Partners� Development of a single regional trading & clearing & settlement
infrastructure - developing relevant and reliable price indices for each price zone
� Gaining the support from trading community with market makers and shareholding – gaining liquidity and regional recognition
� Market participants will benefit from streamlined spot trading procedures, lower risks, financial security, and lower costs
� Catch up with Western European energy exchanges – gaining similar volumes and support of a physical market of significant size
Public Enterprise “Elektromreža Srbije”
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SEEPEX Partnership Possible Cooperation Format
� EMS and Strategic Partners (SP) as a partners in further development of the energy market in Serbia and SEE region� Regional TSO partners to provide regional perspective� Regional incumbent producers (EPS, EPCG…) as a market makers at the PX� Relevant European PX as a strategic partner (service provider)
� Local equity cooperation (possibility)• EMS and SP’s establish a new company• EMS holds the majority share of the company • SP’s controlling stake on this company (initially in the range between 33% and
49%)� Cooperation with IFI’s
SEEPEXEMS
Contribution
Strategic Partners
Contribution
Public Enterprise “Elektromreža Srbije”
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SEEPEX Partnership Partners Roles
� Development and implementation of the SEEPEX infrastructure� Support to the regional development and implementation of the
regional infrastructure� Operation of the day ahead implicit cross border auctions
coordinated by EMS� Local coordination and governance� Role of Counter-party� Information disclosure and publishing� Marketing � Product development� R&D
JП ЕЛЕКТРОМРЕЖА СРБИЈЕ
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SEEPEX Plan for 2013/2014
JП ЕЛЕКТРОМРЕЖА СРБИЈЕ
Nord Pool Spot
OMEL(MIBEL)
OPCOM
GME
OTC
OTC + DAM
Irish Pool
POLPX
EPEX
SI
X
EXAA
HUPX
LAGIE
Belpex
APX
BSP
SEEPEX
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SEEPEX Plan for 2015
JП ЕЛЕКТРОМРЕЖА СРБИЈЕ
OTC + DAMNord Pool Spot
OMEL(MIBEL)
OPCOM
GME
OTC
Irish Pool
POLPX
EPEX
SIX EXAAHUPX
LAGIE
BSP
SouthPool
Belpex
APX
SEEPEX
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European partnership for reliable and sustainable network
http://www.ems.rs