npower EMR Explained Session The Energy Event 10 th & 11 th September 2013
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1 npower EMR Explained Session The Energy Event 10 th & 11 th September 2013
2 Welcome Chris Billing, Head of Indirect Sales, npower
3 Agenda > Welcome & introduction Chris Billing EMR Pulse Survey Results Overview of EMR Delivery Plan Impact of EMR on business How can my business mitigate the cost impact of EMR? Questions > Session close Chris Billing Mary Teuton Mary Teuton Vish Sharma
4 EMR EXPLAINED RWE npower 10/14/2013 4
5 RWE npower 10/14/2013 5
6 RWE npower 10/14/2013 6
7 EMR Pulse Poll 1. Are you fully aware of Electricity Market Reform? a. Yes b. No
8 EMR Explained - Overview of EMR Delivery Plan Mary Teuton, EMR Project Manager, RWE npower
9 The Energy Trilemma AFFORDABILITY Social pressures Capacity Mechanism SECURITY OF SUPPLY CfD Carbon tax EU ETS SUSTAINABILITY
10 The changing electricity market Demand is increasing Supply is decreasing & becoming intermittent UK is moving towards a low carbon economy
11 Electricity Market Reform Carbon Price Support Emission Performance Standard (EPS) EPS = 450g CO 2 / kwh - only applicable to new plant ENERGY BILL Contracts for Difference (CfD) Capacity Mechanism Expected to appear on business bills, similar to FiT
12 Key EMR milestones CM Policy Update Draft Delivery Plan including draft strike prices Final Delivery Plan Decision on capacity auction CfDs available 1 st capacity auction Jun 13 Dec 13 Jul 14 Dec 14 3 rd Reading of Energy Bill Draft secondary legislation & final Policy details available Royal Assent of Energy Bill (expected) Secondary legislation comes into force Policy FINAL POLICY PREPARED Legislation DRAFT SECONDARY LEGISLATION PREPARED CONSULTATION LEGISLATION UPDATED LEGISLATION BEFORE PARLIAMENT Implementation COLLABORATIVE DEVELOPMENT FINAL PREPARATION FOR IMPLEMENTATION STATE AID CLEARANCE PROCESS
13 DELIVERY PLAN EMR draft delivery plan POLICY AREA CURRENT DESIGN DECISIONS > The delivery plan itself outlines 3 core scenarios for UK renewable deployment of 30%, 32% and 35% by 2020 > Strike prices for generation designed to be comparable with Renewables Obligation (RO) recognising differences between them NPOWER VIEW > CfD - Our assessment of CfD costs is in line with DECC assessment > Capacity Mechanism - our current assessment of net Capacity Mechanism costs on customer bills is higher than DECC s (c. 1.50/MWh compared with our analysis of 10/MWh) > Panel of Technical Experts think analysis is robust, but more can be done going forward to improve it
14 CONTRACTS FOR DIFFERENCE SUPPLIER OBLIGATION CfD supplier obligation POLICY AREA CURRENT DESIGN DECISIONS > DECC has changed position on the CfD supplier obligation to a fixed rate > All suppliers will have to pay the obligation > Intention is to exempt intensive industries from CfD costs > Full details to be available in Autumn 2013 and will be consulted on NPOWER VIEW > We called for fixed rate as it will reduce costs and volatility for customers > More information needed on how CfD supplier obligation will be calculated and managed
15 CfD supplier obligation - continued LCF Budget ( bn) 4 Total Costs ( bn) Impact on Bills ( /MWh) /14 14/15 15/16 16/17 17/18 18/19 19/20 20/ /14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 CfD RO FiT National Grid RWE RWE forecasts costs of approx 10/MWh by 2020, compared to NG analysis of 8/MWh
16 CAPACITY MECHANISM Capacity Mechanism POLICY AREA CURRENT DESIGN DECISIONS > DECC has confirmed the design of the Capacity Mechanism and the first capacity auction in 2014 for delivery in 2018/19 NPOWER VIEW > Current proposed design decisions may not be best value to consumers (such as locking in new plant for long periods) > Capacity price discovered annually by competitive auction (so bills more predictable). Failure to deliver will result in penalty payment > Demand side response to be phased in with 1st auction in 2014 for delivery in 15/16 > Costs to be recouped from suppliers according to market share at peak demand > Additional balancing services could distort the market and therefore we would prefer an early introduction of the capacity mechanism > We are lobbying for a fixed unit rate across total annual market share to avoid charges being treated competitively > Flexible customers will have the opportunity to participate in demand side and get revenue that way
17 EMR Pulse Poll 1. Are you concerned about the impact of EMR on your business? a. Yes b. No
18 EMR Explained: Impact of EMR on business Mary Teuton, EMR Project Manager, RWE npower
19 When will EMR impact on your business? Capacity margins expected to be tight Demand side from 2014 auction to deliver CfDs available to generators so starts to appear on bills as well as RO Capacity auction for both generators & demand side response Generation capacity from 2014 auction to deliver Capacity mechanism charges to appear in bills RWE npower 10/14/
20 Cost Impact of EMR Capacity Mechanism 3-15/MWh from 2018/19 CfD 10/MWh by 2020 EMR 13-25/MWh by 2020
21 EMR Pulse Poll 1. Do you currently receive updates on EMR? a. Yes b. No
22 EMR Explained: What can I do about it? Vish Sharma, Structured Products Manager, npower
23 How can my business mitigate the cost impact of EMR? Consume Less Reduce Grid Consumption Participation Cost Certainty Work in partnership with your energy supplier RWE npower 10/14/
24 Questions
25 EMR Pulse Poll 1. Do you now feel better informed about EMR? a. Yes b. No 2. Do you want to receive updates on EMR from npower? a. Yes b. No
26 Thank you
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