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BSP SouthPool News September 2012

The newsletter of the BSP Regional Energy Exchange No. 25

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 5

BSP SouthPool

Traded volume at BSP SouthPool in 2012 exceeded 3TWh

Christophe Cesson (ACER): The main purposes of implementing the

Target Model are to ensure that the existing infrastructures will be used

optimally and improve price formation and convergence in Europe.

In the first half of the year 2012 total traded volume increased for 300%

Traded volume at BSP SouthPool

in 2012 exceeded 3TWh

Daily traded volume at BSP SouthPool

by the end of Q3 2012 reached 3 TWh

Volume (GWh)

600

500

400

300

200

100

0

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

from March to August 2012

March 2012

April 2012

May 2012

June 2012

Trading Volume Buy Orders Sell Orders

July 2012

August 2012

Trading report June – August 2012

Total volume of concluded transactions in the period from

June to August reached 954.966,228 MWh. The volume of

entered orders in aforementioned period reached 2.720.020

MWh.

The highest monthly volume of transactions occurred in July

at 322.292 MWh with 973.6188 MWh of entered orders.

th

Maximum daily volume reached 13.033,521 MWh on 28

August and maximum hourly volume reached 647 MWh on

26th July in 1st hour.

In June average monthly price for Base reached 43,27 €/MWh

and for Euro-peak 49,23 €/MWh. With average hourly volume

of 447,63 MWh total volume reached 322.292 MWh

represents 33,4 % of Slovenian market consumption.

In July average monthly price for Base reached 57,05 €/MWh

and for Euro-peak 65,92 €/MWh. With average hourly volume

of 486,80 MWh total volume reached 362.181,019 MWh

which represents 36,7 % of Slovenian market consumption.

In August average monthly price for Base reached 61,77

€/MWh and for Euro-peak 69,99 €/MWh. With average hourly

volume of 363,57 MWh total volume reached 270.493,209

MWh which represents 27,9 % of Slovenian market

consumption.

14.000,000

Slovenian Market Auction Prices and Volumes

Delivery Day: 01. 08. 2012 - 31. 08. 2012

100

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

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

100,00

12.000

12.000,000

90

80

90,00

80,00

10.000

Volume (MWh)

10.000,000

8.000,000

6.000,000

4.000,000

70

60

50

40

30

Price (€)

Price (€/MWh)

70,00

60,00

50,00

40,00

30,00

8.000

6.000

4.000

Volume (MWh)

2.000,000

20

10

20,00

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

1


BSP

n

SouthPool

w

Christophe Cesson (ACER): The main

purposes of implementing the Target Model

are to ensure that the existing infrastructures

will be used optimally and improve price

formation and convergence in Europe.

Please highlight the main points of the Joint

Declaration and its goal.

The goal of this Joint Declaration is to recall the objective

shared unanimously by all CEE NRAs—which is the

implementation of a Flow-Based Market Coupling (FBMC)

by the end of 2013. It was important to issue this Joint

Declaration, as discussions about the implementation

plan have led to very specific and technical topics where

the initial goal had been somehow demoted. This Joint

Declaration helped all stakeholders to reframe their

action in an efficient way toward the original objective.

The main points of this Joint Declaration are the following:

1. Unanimous commitment by CEE NRAs to

implement an FBMC by the end of 2013;

2. Implementation to occur in one single step in the

whole region (the FB as the capacity calculation

and MC as the congestion management);

3. Implementation plan developed by TSOs

(transmission system operators) and Power

Exchanges that takes care of the elements raised

in points 3 and 4 of the Joint Declaration,

specifically, definition of a governance structure,

setting of clear milestones, compatibility with

the ongoing projects in the Central West Europe

(CWE) Region and within the CEE region, as well

as with the Capacity Allocation and Congestion

Management Frameworks Guidelines and the

coming Network Codes, and

4. Signature of a Memorandum of Understanding.

What is the current status of activities related to the

implementation of the Target Model? Is there a

roadmap for the implementation of the Target

Model?

Activities related to the implementation of the Target

Model for the day-ahead project are ongoing. They

include the fact that Power Exchanges are working on the

implementation of the Price Coupling of Regions (PCR)

project in time in the North West Europe region (the first

step in the European implementation plan), taking on

board specificities from the CEE region for a quick and

smooth extension by the end of 2013. In addition, TSOs

are working together to develop an efficient FB method

for the CEE region and in close cooperation with the CWE

TSOs to ensure compatibility. A single CEE roadmap is to

be presented by the end of the month.

What are the milestones or critical points to be

overcome in order that the Target Model is

successfully implemented?

One critical point particularly in the CEE region is the

unplanned flows. These flows hamper the integration of

an Internal Electricity Market and are a threat to the

electricity network security in several Member States.

The Agency and NRAs from all regions agree to focus on

several types of remedies to deal with unplanned flows.

These can be ordered into short-term and mid- to longterm

solutions. The short-term solutions include

(enhanced) coordination among TSOs, optimal use of

remedial actions, and appropriate flow-based congestion

management. The mid- to long-term remedies include

placing phase -shifting transformers, network

reinforcement investments, the introduction of

appropriate bidding zones, and a possible review of the

ITC mechanism. To this end, a scheme for sharing the cost

of investments and coordinated management of phaseshifting

transformers should be analysed.

Moreover, the Agency and NRAs support the proposal of

ENTSO‐E to launch a pilot project/study based on the

process of reviewing the bidding zones as defined in the

Capacity Allocation and Congestion Management

Network Code, as soon as possible, and also to define the

appropriate geographical scope for such a study, which

should include at least CWE, CEE, Switzerland, and Italy.

Another element ACER fights against is the temptation for

one particular stakeholder to behave like a free-rider.

Since the implementation of the Target Model is realised

in a parallel, informal, and voluntary-based framework (at

least as long as the network Code on Capacity Allocation

and Congestion Management are not binding), some

stakeholders may try to impose their conditions and delay

the whole process. This kind of problem emerges

whenever a consensus is needed and a great number of

stakeholders are involved. With the help of all NRAs and

stakeholders, the Agency closely monitors and publicly

reports on a quarterly basis any progress toward the

milestones.

To read the full interview with Mr. Christophe Cesson

please visit the web page: www.energetika.net.

2


BSP

n

SouthPool

w

In the first half of the year 2012

total traded volume increased

for 300%

In the year 2012 BSP SouthPool recorded increase of trading

volume at Slovenian Day-ahead market. In the first half of the year

2012 total traded volume was 3 times higher as previous year. The

volume in the period from January to June was 2.064 TWh, which

represents 33,5 % of Slovenian consumption. The highest monthly

volume of 436.035,672 MWh took place in March. The price at BSP

SouthPool was slightly lower in the first half of the year 2012 than in

the first half of the year 2011. February 2012 was exemption, since

prices have risen significantly due to historically low hydrology

(thus lower hydro generation) and larger consumption deriving

from extreme cold. In Q1 and Q2 25 BSP members participated at

hourly auction on Slovenian Day-ahead market on daily basis.

Trainings

Course

th

On the 20 of September

BSP organized Exchange

Trader Training Course. At

training participants from

Vatenfall and Interenergo

were present. Participants

upgraded their expertise

on BSP rules, trading

platforms, clearing

procedures, scheduling

procedures, basis of market

coupling on Slovenian-

Italian border etc.

Comparison between price and volume

in the first half of year 2011 and 2012

Volume (GWh)

450

400

350

300

250

200

150

100

50

0

January February March April May June

Traded volume 2011 Traded volume 2012 BSP base price 2011 BSP base price 2012

100,00

90,00

80,00

70,00

60,00

50,00

40,00

30,00

20,00

10,00

0,00

Price (€)

The newsletter is published

by BSP Regional Energy Exchange LLC.

Editor in Chief

Gorazd Ažman

Completed in September 2012, No 25/2012

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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