Post on 04-Jan-2016
description
1EFETwww.EFET.org
Day ahead capacity
WorkshopBonn 9 February
European Federation of Energy Traders
EFET positionAdam Cooper EFET Gas
Committee
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3EFETwww.EFET.org
4EFETwww.EFET.org
• Background to proposals
• Initial proposals
Outline
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Background to Proposals
• Development of German virtual hubs
• ERT development of a ‘Choice market’
• Concern about how to participate
• Availability of capacity viewed as important for liquidity and hub
success
• Capacity access may reduce imbalance risk
• EFET developed ideas for a quickly implemented pilot solution
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Initial Proposals
• Proposed a number of border points for firm and interruptible
capacity
• Sought a bundled entry-exit product to enhance hub to hub trading
• Allow voluntary capacity recycling from users
• Outlined timetable
• Considered revenue issues
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Border Points
Location TSO Exit TSO Entry
Auction Capacity (MW)
Firm/ Interruptible
Bunde-Oude Statenzijl GTS BEB 300 Firm
Bunde-Oude Statenzijl BEB GTS 300 Firm
Bunde-Oude Statenzijl GTS EGT 300 Firm
Bunde-Oude Statenzijl EGT GTS 300 Firm
Emden EPT or –NPT terminal
Gassco EGT 300 Firm
Emden EPT or –NPT terminal
Gassco BEB 300 Firm
Emden EPT or –NPT terminal
Gassco GTS 300 Firm
Ellund Energinet BEB 300 Firm
Ellund BEB Energinet 300 Interruptible
Ellund Energinet EGT 300 Firm
Ellund EGT Energinet 300 Interruptible
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• Any time before the auction up to 0900 invite shippers to
voluntarily offer any available capacity
• Before 0930 the operator publishes available capacity and its
nature
• Between 0930 and 1000 participants indicate volume and price
bids in Euro/MW
• Results before 1015
Timetable D-1
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Nature of Auction
• Held early in the day to promote further trading activity
• No upper or lower price limits
• Could use a cleared price
• Same per unit revenues (could differ for firm and interruptible)
accrue to either the TSO or users offering capacity
• Half revenue to users placing only entry or exit
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Implementation
• Sought implementation by 1 April 2007
• Auction through secure websites
• Use of a common platform to avoid system duplication
• Outcomes to provide lessons for auctions of other capacity
products
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Thank you!