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BSP SouthPool News December 2013

The newsletter of the BSP Regional Energy Exchange No. 4

The newsletter of the BSP Regional Energy Exchange No. 4

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BSP SouthPool

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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 xc h a n g e N o 4 / 2 0 1 3

BSP SouthPool

Market Results

Tarik Khalil

(Head of Trading at Interenergo):

A vital change in the Slovenian electricity market

is the regional energy exchange BSP which has

attracted foreign electricity traders thanks to its liquidity

1.000 days of SI-IT Market Coupling

New Members of BSP SouthPool

are Neas Energy and Compagnie Nationale du Rhône

BSP SouthPool market Results

Trading report September - November 2013

80,00

70,00

In September, October and November the total volume of

concluded transactions amounted to 1.510.834 MWh,

whereas the volume of entered orders in the aforementioned

period was 4.641.393 MWh.

Total volume in September reached 452.397,893 MWh, which

represents 45,8 percent of Slovenian market consumption, in

October 528.215,152 Mwh, 50,8 percent of Slovenian market

consumptionand in November 530.221,523 MWh, which

represents 51,9 percent of Slovenian market consumption

st

The maximum daily volume in the period from 1 September

th

to 30 November, and also in the year 2013 reached 22.486

nd

MWh and took place on 22 November. The maximum hourly

volume, an amount of 1.060 MWh, was realised on the

th

th

delivery day of 19 November for the 19 hour.

Correlation between offered and allocated quantity of daily

capacatiy on SI- IT border and difference between Base price

on SI and IT market in November 2013

16.000

14.000

Price (EUR/MWh)

80,00

70,00

60,00

50,00

40,00

30,00

20,00

10,00

0,00

Slovenian Market Auction Prices and Volumes

Delivery Day: 01. 11. 2013 - 30. 11. 2013

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

Transactions Volume BASE Price EURO-PEAK Price

Day-aheatotal trading volume in the Slovenian trading - volume of entered orders and

market

25.000

20.000

15.000

10.000

5.000

0

Volume (MWh)

60,00

12.000

1200

1000

Price (EUR/MWh)

50,00

40,00

30,00

10.000

8.000

6.000

Volume (MWh)

Volume (GWh)

800

600

400

200

20,00

4.000

0

December

January

2012

2013

10,00

0,00

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

2.000

0

February

March 2013 2013 April 2013 May 2013 June 2013 July 2013 August

Trading Volume Buy Orders Sell Orders

2013 September

2013 October

2013 November

2013

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

1


Trading report for BSP Intraday market from September - November 2013

Slovenian Intraday Market Volumes Delivery Day: 01.01.2013 - 30.11.2013

Volume (MWh)

20.000

18.000

16.000

14.000

12.000

10.000

8.000

In September, October and

November 2013 the total

trading volume reached 6.493

MWh. In the same period a total

volume of 3.751 MWh was

c o n c l u d e d w i t h b l o c k

products, 2.342 MWh with

hourly products and 400 MWh

with 15 minute products

6.000

4.000

2.000

0

January

2013

February

2013

March

2013

April

2013

May

2013

June

2013

July

2013

August

2013

Block Volume Hourly Volume Fifteen minute Volume

September

2013

October

2013

November

2013

In September, October and

November 2013 a total volume

of 96 MWh was submitted for

clearing (OTC).

Total Volume: 69.724 MWh Block Volume: 55.723 MWh Hourly Volume: 12.557 MWh Fifteen minute Volume: 1.444 MWh

BSP

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SouthPool

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Tarik Khalil

(Head of Trading at Interenergo):

A vital change in the Slovenian electricity market

is the regional energy exchange BSP which has

attracted foreign electricity traders thanks to its

liquidity

You have been present in the Slovenian electricity

market for quite some time. How do you see the changes

that have taken place in the market, and where do you

see the opportunities of further market development?

The changes that have taken place are part of market

liberalization process as a result of the EU's Second and Third

Energy Package. Similar changes are expected in other

countries of the former Yugoslavia as a result of their

membership in the Energy Community. Those changes have led

to the emergence of new electricity traders, which has boosted

competition both in the wholesale as well as the retail markets.

The newly formed competition is most pronounced through

lower prices of electricity for end consumers. Also, a vital change

in the Slovenian electricity market is the regional energy

exchange BSP which has attracted foreign electricity traders

thanks to its liquidity.

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BSP

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SouthPool

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It has been said that energy exchanges are to be

established in Serbia and Croatia as well. How realistic do

you find these predictions, and how would the

exchanges in question affect the domestic as well as

neighbouring markets?

We believe that the possibility of establishing such an exchange

in Serbia is more likely than in Croatia. With a higher number of

providers in the retail market, the latter are forced to optimise

their day-ahead demand through purchase and sale of nonstandard

“hourly products”. It is easier to purchase or sell the

latter through a power exchange. However, we must underline

that the most important factor in establishing an energy

exchange is the so-called market maker, as it can provide the

necessary liquidity of the respective exchange, thus making it

more interesting to other market participants. As regards BSP,

their continuous liquidity is ensured, besides through market

makers, also by market coupling with Italy. As for the Serbian

market, EPS (Elektroprivreda Srbije) is the only entity that would

be capable of providing adequate liquidity. The question is

whether that is in their economic interest.

The role of renewable energy sources in the electricity

market has been growing. Given their unpredictability,

the intra-day trading is more and more at the forefront.

Can we expect that in the future, liquidity of the markets

would to some extent shade into intra-day trading?

Due to their nature, i.e. being hardly predictable and unreliable,

renewable energy sources (RES) have been causing a lot of

trouble to all market participants. If we look at the matter only

from the perspective of electricity traders, the latter have been

focusing increasingly on short-term trading when the forecasts

on renewable electricity production are much more precise, and

on intra-day trading, which is on the rise and will further

strengthen with the boost of new RES generating capacity.

To read the full interview with Mr. Tarik Khalil please visit the web

page: www.energetika.net.

A lot has been said about market coupling with regard to

short-term products at the European level. What's your

view on the respective project?

The project is urgent and must continue, as it ensures better

allocation of cross-border transmission capacity, thus allowing

for better efficiency of energy markets.

1.000 days of

SI-IT Market

Coupling

On Thursday, 26 September 2013, the

power exchanges (BSP and GME) and

transmission operators (ELES and

TERNA) performed market coupling

between Slovenia and Italy for the

1,000th time. “Slovenian-Italian Market

Coupling is the first implicit allocation

o f D A c a p a c i t y b e t w e e n t w o

th

neighboring markets in the 8 Region.

The share of liquidity between coupled

markets significantly increased market

depth and traded volumes at BSP, it

allowed all spot market participants to

benefit from cross-border trade and

enabled formatting of regionally

recognized SI DA market price indices”,

explains Anže Predovnik, Managing

Director of BSP.

Training Course

th

On the 4 of November BSP organized the Exchange Trader Training Course.

Six participants from Borzen were attending the course. During the course

participants were addressed with information on the BSP power exchange

rules, clearing and trading platform.

th

On the 28 of November 2013 BSP SouthPool in cooperation with Faculty of

Electrical Engineering – Laboratory of Energy Policy, organised training

course for students. On the workshop students got knowledge about

Electricity market, trading, organisation and rules of energy exchange and

clearing settlement. At the end trading simulation was organised and

participants had chance to conclude their first successful deals.

3


BSP

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SouthPool

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New Members of BSP

SouthPool are Neas Energy

and Compagnie Nationale du

Rhône

th

The Neas Energy became the 46 and Compagnie

th

Nationale du Rhône the 47 company group that

entered into the membership at BSP SouthPool.

st

The Neas Energy will henceforth as the 41 and

nd

Compagnie Nationale du Rhon as 42 participant on

the Slovenian electricity market – actively participate

on the Slovenian market.

BSP regional energy exchange members are: Alpiq

Energy, Axpo Trading, Borzen, Compagnie Nationale

du Rhône, Dans Energy, Danske Commodities,

Dufenergy Trading, Edelweiss, EDF Trading, Electrade,

Elektro Slovenija, Edison Trading, Elektro Energija Celje,

Elektro Energija, Energija Plus, E3, Elektro prodaja E.U.,

Enel Trading, Energi Danmark, Energy Financing Team,

ENOI Power, Europe Energy, EVN Trading South East

Europe, Ezpada, Gala, Gazprom Marketing & Trading,

GEN-I, HEP Trgovina, Holding Slovenske elektrarne,

Interenergo, JAS Energy Trading, MVM Partner, Neas

Energy, Petrol energetika, Petrol, Repower Trading, RD

CZ Energy, Statkraft Markets, TEI Deutschland,

Termoelektrarna toplarna Ljubljana, Tradition Financial

Services (TFS), Vattenfall Energy Trading, Verbund,

Virtuse energija and Vitol Gas & Power.

The newsletter is published

by BSP Regional Energy Exchange LLC.

Editor in Chief

Anže Predovnik

Completed in December 2013, No 4/2013

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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