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BSP SouthPool News June 2012

The newsletter of the BSP Regional Energy Exchange No. 25

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T h e n e w s l e t t e r o f t h e B S P R e g i o n a l E n e r g y E x c h a n g e N o 2 4

BSP SouthPool

Traded volume at BSP SouthPool in 2012 exceeded last year volume

Riccardo Cases (Chief Executive Officer Assistant at Europe Energy SPA):

Slovenia is still one of the main portals for the eastern European region,

so it could potentially become more and more of a European “hub”,

especially for Italian and Austrian companies, even at the risk of

basically becoming a transit country.

BSP Traders' Party 2012 took place in Portorož

Traded volume at BSP SouthPool

in 2012 exceeded last year volume

BSP SouthPool traded volume on Day-Ahead market

already passed traded volume in year 2011

Volume (GWh)

600

500

400

300

200

100

0

Volume of entered orders and total trading volume in the Slovenian market

from December 2011 to May 2012

December 2011 January 2012

February 2012

March 2012

Trading Volume Buy Orders Sell Orders

April 2012

May 2012

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On 12 of May 2012 total traded volume reached

1.536.172,221 MWh and exceeded volume of concluded

transaction of BSP SouthPool on Day-ahead market in the

year 2011.

Total volume in May was 329.052,737 MWh, which

represented 34 % of Slovenian market consumption.

Average price for Base reached 46,51 Eur/MWh and for

Euro-peak 50,23 Eur/MWh.

Maximum daily volume in May reached 12.716 MWh on

29.05.2012, average daily volume in this month reached

10.614,604 Mwh.

Maximum hourly volume in May reached 603 MWh on 30.

th

05. 2012 for the 6 hour, average hourly volume reached

442,275 MWh.

No transactions were submitted for clearing (OTC) in May.

In May the total amount of offered daily capacity in the

direction from Slovenia to Italy was 279.124 MWh.

Through the implicit allocation at BSP SouthPool

273.578,221 MWh of offered capacities were allocated,

representing 98 % utilization of daily available

transmission capacity. In the direction from Italy to

Slovenia the total amount of offered daily capacity was

103.350 MWh. None of the offered capacity in IT-SI

direction was allocated in May.

Slovenian Market Auction Prices and Volumes

Delivery Day : 01. 05. 2012 - 31. 05. 2012

Correlation between offered and allocated quantity of daily capacatiy on SI- IT border

and difference between Base price on SI and IT market in May 2012

90,00

12.000

14.000,000

80

80,00

12.000,000

70

70,00

10.000

10.000,000

60

60,00

8.000

Price (€ /Mwh)

8.000,000

6.000,000

50

40

30

Price (€/MWh)

50,00

40,00

30,00

6.000

4.000

Price (€/MWh)

4.000,000

20

20,00

2.000,000

10

10,00

2.000

0,000

0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

EURO-PEAK Price Transactions Volume BASE Price

0,00

0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

ELES > Terna Allocated Quantity ELES > Terna Non - Allocated Quantity SLO price IT Nord price

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Riccardo Cases (Chief Executive Officer Assistant at Europe Energy SPA):

Slovenia is still one of the main portals for the eastern European

region, so it could potentially become more and more of a European

“hub”, especially for Italian and Austrian companies, even at the risk

of basically becoming a transit country.

In general, how important is the Slovenian market

to your company, and what are your expectations

for developments in the Slovenian power market

for the future?

It's a relatively new market for us, so dimensionally it is of

course less “strategic” than Italy, Germany, or France, for

example.

That particular market, anyway, seems really sensitive to

hydrological conditions, which makes its prices really

volatile, above all, during winter time. Moreover, on the

over the counter market, Slovenian futures are often really

difficult to price (peak products still have a excessively

high premium price); there's still a big liquidity problem,

and so far, there isn't a market maker that can help this

situation. Although, to be honest, I still saw some

improvement compared to last year.

Does your energy company see opportunities in

other markets?

We are thinking about the Hungarian market at the

moment, but these decisions usually take some time. I

also heard other traders talking about the Serbian market

as being the most interesting one; I think this is because its

borders allow a great number of possibilities.

Speaking about opportunities, is interesting to note that

soon CASC (the Capacity Allocating Service Company)

will start the new intraday auctions: there is a lot of

uncertainty about this because it's difficult to predict how

much capacity will be auctioned and how much bid-ask

spread there will be on intraday products. With the

incoming market coupling, some people think that this

kind of auction will replace the day-ahead ones.

However, It would be nice if someone in Slovenia worked

to create an efficient and liquid intra-day market.

You're also a member of BSP Southpool? What kind

of benefits do you receive from that?

We have been a BSP Southpool member since

01/01/2012, and because of the volume this year we have

justified the investment to become a direct operator.

We're absolutely satisfied with the decision we've taken.

Honestly speaking, we immediately had an excellent

relationship with all of the colleagues at BSP Southpool, in

terms of transparency, communication, presence,

consistency, and information sharing.

Nevertheless, Slovenia is still one of the main portals for

the eastern European region, so it could potentially

become more and more of a European “hub”, especially for

Italian and Austrian companies, even at the risk of

basically becoming a transit country.

To go further into the region: the SEE region is

known for monopolies, especially in the power

sector, where players are not really satisfied with

the current market situation. What could change

this situation? More power exchanges in the

regional market? Or … ?

First of all, it might be important to distinguish between

monopolies that are born of a limitation of free-market

principles and those that remain because of the

superiority of their products compared to that of their

competitors.

If we are talking about the first case, a good start could be

a full disclosure regarding price sensitive information,

such as power plant production, outages, financial

reports, or changes in local regulations. Moreover, the

newborn REMIT guidance seems to go exactly in that

direction.

If, instead, we are talking about the second case, I would

not do anything.

To read the full interview with Mr. Riccardo Cases please

visit the web page: www.energetika.net/see

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Training Courses

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On the 15 and 31 of May BSP organized

Exchange trader training courses. For both

trainings participants came from Slovenian

companies GEN energija and GEN-I.

Participants upgraded their expertise on BSP

exchange rules, clearing procedures and

trading platforms.

th

On the 29 of May BSP prepared training

course for 13 participants from five Slovenian

companies (Soške elektrarne Nova Gorica

d.o.o., Elektro Maribor Energija plus d.o.o.,

Termoelektrarna Brestanica d.o.o., Elektro

energija d.o.o., GEN-I d.o.o.). The main topics

presented on the course were wholesale

trading, spot trading and electricity prices

forecasting.

BSP SouthPool Traders’

th

rd

On Friday 25 May 2012 the 3 BSP

SouthPool Traders' Party took

place at Slovenian coast in

Portorož. The event offered

opportunity for traders and other

BSP SouthPool partners to meet

each other in person.

Workshop on

REMIT, MiFID,

MAD and EMIR

regulations

At this workshop, organised under the

framework of BSP Members Chamber, a

lecturer from company Maycroft, Mr. Kasper

Walet, that has given numerous seminars,

workshops and (in-house) training sessions on

the abovementioned topics took the

attendees through the latest standing of the

REMIT, MiFID, MAD and EMIR regulations and

discussed with them the impacts on the

European energy markets as well as what this

all means to their individual companies. He

also provided attendees with strategies and

scenarios to tackle these issues and pointed

out ways to use them into their favour.

The newsletter is published

by BSP Regional Energy Exchange LLC.

Editor in Chief

Gorazd Ažman

Completed in June 2012, No 24/2012

Address: BSP Regional Energy Exchange LLC,

Dunajska 156, SI-1000 Ljubljana, Slovenia

Telephone number: + 386 1 620 76 76

Fax number: + 386 1 620 76 77

Website: www.bsp-southpool.com

E-mail: info@bsp-southpool.com

Copyright © 2008 – BSP d.o.o. - All rights reserved

BSP Regional Energy Exchange

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