Market Coupling: a method with implicit advantages. B. Den Ouden CEO, Amsterdam Power Exchange Spotmarket BV (APX)
|
|
|
- Phebe Nichols
- 8 years ago
- Views:
Transcription
1 Market Coupling: a method with implicit advantages B. Den Ouden CEO, Amsterdam Power Exchange Spotmarket BV (APX)
2 Daily spot market Prijs Vraag Aanbod Conditional bids marktprijs 24x + blocks: Daily program Verhandeld volume Hoeveelheid 2.500, , , ,0 500,0 0,0 MWh Eur ,00 35,00 30,00 25,00 20,00 15,00 10,00 5,00 0,00 Pagina 2
3 Pagina 3 New bid interface
4 Monthly volumes GWh/month electricity Monthly volumes gas volume scaled down by 50% GWh/month Natural gas APX APX UK UK gas Pagina 4
5 Volumes UK gas: EnMO 11,0 10,0 Mln MWh/mnd 9,0 8,0 7,0 6,0 5,0 4,0 3,0 GPF BoW GPF WDNW GPF Weekend GPF Days OCM Physical OCM Locational OCM Title 2,0 1,0 0,0 Oct Jan Apr Jul Oct Jan April July Oct Jan Apr July Oct Jan Apr July Pagina 5
6 No. of market parties directly active 60 APX APX UK EnMO Pagina 6
7 Price (movements) 100,00 Monthly base price average , , Price 50,00 49,99 51,03 25,00 34,62 29,83 25,91 26,24 40,12 32,64 0,00 January Febuary March April May June July August September October November December Av. 2001: 33 /MWh Av. 2002: 30 /MWh Pagina 7
8 Independent APX shareholder: grid company 100% Shareholder grid company: Dutch state Completely independent Firm trading system Back-up systems APX always produces a price Dutch state 100% Grid operator TenneT APX 100% Pagina 8
9 APX group First combined exchange in electricity & natural gas EnMO APXUK APX International Multi-commodity Added value Pagina 9
10 Cross-border allocation methods (New lines) Non-market based: First come first serve Pro rate curtailing Market based: Explicit autioning Implicit auctioning, market splitting/coupling Counterbuying,, compensating re-dispatch Pagina 10
11 Some congested borders in Europe Reasons: Historical policy Fuel decisions Local taxation X - No. Of major generators - Constraints / Auctions - Operating exchanges New lines: Slow Huge investment Political reasons might fade over time Optimize existing capacity! Pagina 11
12 Non-market based methods Stable when no congestion or non-competition Unstable when there is a real value and full competition First come first serve: fax run in the opening seconds Pro rata: gaming for ever-bigger subscription volumes Pagina 12
13 Market based methods Attribute an economical value to the good being limitedly available: transmission capacity Explicit auctioning: Explicit auction transmission capacity Cap. price Maximum im/export Pagina 13
14 Explicit auctioning Creates stability Drawbacks: Risky Suitable for bigger players No contribution to liquidity on either side No netting of im & exports Creates a barrier even at times when there is no congestion! Leads to a fragmented European market Pagina 14
15 From explicit towards implicit transmission auction method Auction revenue Explicit auction transmission capacity Prijs Spot market Area A Maximom export Spot market Area B Cap. price? Maximum im/export Maximum import Quantity Quantity Pagina 15
16 Implicit auction without constraints: one integrated market Explicit auction transmission capacity Prijs Spot market Area A Maximom export Spot market Area B Cap. price? Maximum im/export Maximum import Quantity Quantity Pagina 16
17 Market Coupling, Nordic (1): situation with no transport capacity Spot Market Area A high price Spot Market Area B low price Isolated markets with a price difference Price Price Quantity Quantity Pagina 17
18 Market Coupling (2): situation with sufficient transport capacity Spot Market Area A prices equal Spot Market Area B prices equal Spot Markets and prices unified by transport capacity Price Price imports exports Quantity Quantity Pagina 18
19 Market Coupling (3): situation with limited transport capacity Spot Market Area A higher price Spot Market Area B lower price Spot Markets and prices differ but are connected Price imports Price exports Implicit Capacity auction: revenues to Grid Operators Quantity Quantity Pagina 19
20 Advantages Integration of daily capacity auction + spot market One step instead of two Diminishing trading risk, market power Better suitable for hedging Local traders also acting internationally Netting of im/exports (optizing( use of cap.) Bigger liquidity One market when there is no congestion Pagina 20
21 Example: Brussels Power Exchange BPX Spot market: BPX Brussels Power Exchange: Belgian price Implicit auction of transmission capacity Extra liquidity by VPP measure VPP = Virtual Power Plant Production rights on inc. producer Pagina 21
22 Example: Belgian market and Dutch market, explicit cross-border auctions Market parties would sell preferably in NL Directly crossing the border by buying crossborder capacity Import from the south: transit transit APX No liquidity for the Belgian market Also VPP s No added value for Belgium Pagina 22
23 Implicit auction method System developed for APX / BPX Transmission capacity no longer sold to market parties Im- /export through spot market: BPX BPXexportimport APX All liquidity inside Belgium Including VPP liquidity Added value Pagina 23
24 Re-dispatch: inside price areas Example: Oversupply Overdemand constrained connection In spite of constraints : - Free contracting - Market contracts remain - Whole region 1spot price - Stimulates market liquidity Requirements: - System Operator needed - Costs of counter-buying by SO are charged in grid tariff Between countries / price areas: very expensive! Pagina 24
25 Conclusions Liberalization leads to emerging economical forces, leading to emerging constraints Non-market based methods unstable Explicit auctioning stable but fragmenting Implicit auctioning: future opportunity Pagina 25
The Nordic Electricity Exchange and The Nordic Model for a Liberalized Electricity Market
The Nordic Electricity Exchange and The Nordic Model for a Liberalized Electricity Market 1 The market When the electricity market is liberalized, electricity becomes a commodity like, for instance, grain
A new electricity market for Northern Ireland and Ireland from 2016 - Integrated Single Electricity Market (I-SEM)
A new electricity market for Northern Ireland and Ireland from 2016 - Integrated Single Electricity Market (I-SEM) Non-technical summary High level design Draft Decision Paper SEM -14-047 June 2014 1 INTRODUCTION
Power market integration. Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS
Power market integration Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS 1 Geir-Arne Mo Some background information: Working for Bergen Energi since 2015 Team Lead Nordic Spot Trading I work
The Liberalized Electricity Market
1. The market When the electricity market is liberalized, electricity becomes a commodity like, for instance, grain or oil. At the outset, there is as in all other markets a wholesale market and a retail
Simulation of the Central European Market for Electrical Energy
Simulation of the Central European Market for Electrical Energy T. Mirbach and H.-J. Haubrich RWTH Aachen University Institute of Power Systems and Power Economics Schinkelstr. 6, D-52056 Aachen, Germany
Mark Pearce National Grid Interconnectors Business National Grid House Warwick Technology Park Gallows Hill Warwick CV34 6DA 23 June 2006
Mark Pearce National Grid Interconnectors Business National Grid House Warwick Technology Park Gallows Hill Warwick CV34 6DA 23 June 2006 Dear Mark, Re: Proposal for the implementation of revised use it
Financial Transmission Rights in the Nordic Electricity Market
Financial Transmission Rights in the Nordic Electricity Market 2 What is the purpose of issuing FTRs FTRs allow market parties to hedge the area price spread risk => This makes it potentially easier for
Options for coordinating different capacity mechanisms
Options for coordinating different capacity mechanisms Håkan Feuk, Chair of EURELECTRIC Working Group on Wholesale Market Design Brussels, 12 December 2013 Generation adequacy measures have clear cross-border
How To Create A Power Market In European Power Markets
THEMA Report 2011-15 ISBN no. 978-82-93150-07-7 Market design and the use of FTRs and CfDs A report prepared for Energy Norway September 2011 CONTENT 1 SUMMARY AND CONCLUSIONS...3 2 INTRODUCTION...4 3
Business Area Markets
Business Area Markets Stefan Dohler Head of Business Area Markets Vattenfall Capital Markets Day, Solna, 27 May 2015 Facts and figures Business Area Markets Our Mission We commercially optimise Vattenfall
POLICYbrief. A Gas Target Model for the European Union: Contrasting MECOS and EURAM Proposal. Highlights
ISSN 1977-3919 POLICYbrief On the web: http://fsr.eui.eu ISSUE 2011/08 October 2011 A Gas Target Model for the European Union: Contrasting MECOS and EURAM Proposal Authors: Sergio Ascari and Jean-Michel
Forward Risk-Hedging Products PC_2012_E_13
Answer to public consultation Petteri Haveri 26.10.2012 1(5) Agency for the cooperation of energy regulators consultation2012r08@acer.europa.eu Forward Risk-Hedging Products PC_2012_E_13 The Finnish Energy
Power Exchanges and Market Coupling tools for mitigating energy costs favoring EU competitiveness
Power Exchanges and Market Coupling tools for mitigating energy costs favoring EU competitiveness Brussels, April 30 th 2014 Dr. Wolfram Vogel Director Public Affairs & Communications, EPEX SPOT Liberalization
Regional resource adequacy Cross-border trade of capacity. From implicit to explicit cross-border participation in capacity mechanisms
Regional resource adequacy Cross-border trade of capacity From implicit to explicit cross-border participation in capacity mechanisms Håkan FEUK Chairman of EURELECTRIC WG Wholesale Market Design IEA Expert
Specific amendments to the Capacity Allocation and Congestion Management Network Code
Annex: Specific amendments to the Capacity Allocation and Congestion Management Network Code I. Amendments with respect to entry into force and application The Network Code defines deadlines for several
Power to Gas: Electric Congestion
Power to Gas: Electric Congestion Cis Vansteenberge Power to Gas: Electric Congestion - 26/11/2014 1 Introduction Technical congestion Economic congestion Case study Zeebruges Conclusions Content Power
Progress on market reform: EMR, the I-SEM and the TEM
Progress on market reform: EMR, the I-SEM and the TEM David Newbery Electricity Market Reform Belfast 28 th March 2014 http://www.eprg.group.cam.ac.uk 1 Disclaimer Although I am an independent member of
EPEX SPOT reaches in 2015 the highest spot power exchange volume ever
PRESS RELEASE EPEX SPOT reaches in 2015 the highest spot power exchange volume ever New, integrated exchange reaches a total of 566 TWh traded, up by 19% UK and France power markets flourish, reaching
Vattenfall Q2 2013 results
Vattenfall Q2 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 23 July 2013 Q2 Highlights Impairment charges on thermal assets and goodwill amounting to
Investing in the Infrastructure for Energy Markets
Investing in the Infrastructure for Energy Markets Executive Summary: The European Commission, energy ministers and energy regulatory authorities have recognised that, if the European electricity and gas
Energy Trading. Jonas Abrahamsson Senior Vice President Trading. E.ON Capital Market Day Nordic Stockholm, July 3, 2006
Energy Trading Jonas Abrahamsson Senior Vice President Trading E.ON Capital Market Day Nordic Stockholm, July 3, 2006 Agenda The Nordic Power Market The Role of Energy Trading within E.ON Nordic Page 2
Reliability Options in Ireland and Northern Ireland Obligations and Penalties
Reliability Options in Ireland and Northern Ireland Obligations and Penalties European Commission Technical Working Group on Energy: Subgroup on generation adequacy 14 April, Brussels Background Single
EEX European Power Futures and Introduction of Cap Futures
EEX European Power Futures and Introduction of Cap Futures Tim Greenwood, Steffen Riediger, Dr. Maximilian Rinck Essen, 11 February 2015 Agenda 1. Review volumes and trends in 2014 2. EEX Power Derivatives
GDF SUEZ. Introduction. Jean-François Cirelli
GDF SUEZ Introduction Jean-François Cirelli Content 1. Focus on gas market dynamics 2. Focus on electricity market dynamics 3. Focus on P&L resilience and sensitivities 4. Focus on synergies and performance
Access to gas transportation
Access to gas transportation Sergio Ascari Gas Advisor, Florence School of Regulation WAGPA Natural Gas Workshop Cotonou, February 14-16, 2012 Contents The gas market model Transportation Tariffs Network
EURELECTRIC presentation. EURELECTRIC contribution to a reference model for European capacity markets. DG COMP workshop 30 June 2015
EURELECTRIC presentation EURELECTRIC contribution to a reference model for European capacity markets DG COMP workshop 30 June 2015 EURELECTRIC believes that energy, flexibility and capacity are all needed
Consultation on Forward Risk-Hedging Products and Harmonisation of Long-Term Capacity Allocation Rules
Deres referanse Vår referanse Dato PC_2012_E_13 N 26.10.2012 ACER Trg Republike 3 1000 Ljubljana, Slovenia Consultation on Forward Risk-Hedging Products and Harmonisation of Long-Term Capacity Allocation
Poland must fully transpose the Third Energy Package Directives without further delay to liberalise the electricity and gas markets.
Poland Key Issues + With regard to electricity, coal is still the main source of fuel for power generation. Poland's generating capacity is ageing, and the country needs better incentives for investment
Convergence of Wholesale Electricity Prices in Europe?
Convergence of Wholesale Electricity Prices in Europe? - A Time Series Analysis of Hourly Spot Prices - Georg Zachmann 7th IAEE European Energy Conference Bergen, August 28 3th, 5 Agenda 1. Aim of the
THE STRUCTURE OF AN ELECTRICITY MARKET
THE STRUCTURE OF AN ELECTRICITY MARKET Lectures 1-2 in EG2200 Power Generation Operation and Planning Mikael Amelin 1 COURSE OBJECTIVE To pass the course, the students should show that they are able to
DESCRIPTION OF EPEX SPOT MARKETS INDICES
DESCRIPTION OF EPEX SPOT MARKETS INDICES Updated on October 2015 SUMMARY 1 ABOUT... 3 2 DAY-AHEAD AUCTION INDICES... 4 2.1 European Electricity Index (ELIX)... 4 2.2 German/Austrian Physical Electricity
PRINCIPLES OF REGULATION ON HARMONIZED RULES FOR CROSS-BORDER TRADE AND REGULATORY COOPERATION FOR MARKET INTEGRATION IN THE BLACK SEA
PRINCIPLES OF REGULATION ON HARMONIZED RULES FOR CROSS-BORDER TRADE AND REGULATORY COOPERATION FOR MARKET INTEGRATION IN THE BLACK SEA WORKING DRAFT May 2013 This publication was made possible through
GLOSSARY. Issued by Nord Pool Spot
GLOSSARY Issued by Nord Pool Spot Date: September 29, 2011 Glossary Nord Pool Spot Area Price Balancing market Bidding area Bilateral contract Block bid Whenever there are grid congestions, the Elspot
Dual Purpose Transmission Rights
Dual Purpose Transmission Rights The pros and cons of physical and financial transmission capacity rights and a recommended EFET approach for a pan European model DISCUSSION PAPER November 2008 Executive
ACER scoping document for Rules for Trading
ENTSOG response to ACER questionnaire on scoping for Rules for 12 May 2014 Final ACER scoping document for Rules for ENTSOG response to the ACER questionnaire Since some of the questions are addressed
Copyright 2015 All rights reserved. Phelix Power Futures
Phelix Power Futures EEX at a glance The European Energy Exchange develops, operates and connects secure, liquid and transparent markets for energy and related products. EEX is a regulated market according
DECENTRALISED RELIABILITY OPTIONS Securing European electricity markets Florence Forum, 5 June 2014 Stephen Woodhouse, Director
DECENTRALISED RELIABILITY OPTIONS Securing European electricity markets Florence Forum, 5 June 2014 Stephen Woodhouse, Director ENERGY MARKETS ARE BEING CHALLENGED Increasing levels of weather variable
Measurement and Mitigation of Market Power in Wholesale Electricity Markets
Measurement and Mitigation of Market Power in Wholesale Electricity Markets Frank A. Wolak Department of Economics Stanford University Stanford, CA 94305-6072 wolak@zia.stanford.edu http://www.stanford.edu/~wolak
The pivotal role of TSOs in European energy market integration
The pivotal role of TSOs in European energy market integration To meet the needs of modern society, the energy market is having to change. Concerns about environmental sustainability and dwindling supplies
Company Presentation
Company Presentation Contents General information Page Oil trading Page 16 - RWE Trading as an operating company 2 within the RWE Group - RWE Trading is RWE s interface with the market 3 - The trading
FI/RU electricity exchange area setup
FI/RU electricity exchange area setup Daily routines at Nord Pool Spot Time (CET) Action 9:30 Transmission capacities published on NPS web Daily at 9:30 CET the relevant TSOs submit the available transmission
Impediments to Electricity Trading in Central and Eastern Europe (CEE)
www.pwc.at Impediments to Electricity Trading in Central and Eastern Europe (CEE) Austria, Czech Republic, Germany, Hungary, Poland, Slovakia, Slovenia Traders Survey 2011 2 PwC 2011 Table of Contents
ICIS Power Index Q2 2015 UK energy prices hit five-year lows
Highlights l Wholesale UK gas and electricity market prices are at their lowest quarterly average in five years, according to the ICIS Power Index and the ICIS price for gas to be delivered over the next
2. Executive Summary. Emissions Trading Systems in Europe and Elsewhere
2. Executive Summary With the introduction of CO 2 emission constraints on power generators in the European Union, climate policy is starting to have notable effects on energy markets. This paper sheds
CAPACITY MECHANISMS IN EU POWER MARKETS
CAPACITY MECHANISMS IN EU POWER MARKETS Can we progress to bilateral energy options? Simon Bradbury Ultimately, European renewable targets mean that prices and dispatch patterns will be dictated by wind
All about Allowances: from a power company perspective
All about Allowances: from a power company perspective Francisco Grajales Global Emissions Vattenfall Energy Trading Netherlands N.V. October 2014 History of Vattenfall From a domestic Swedish hydro power
When supply meets demand: the case of hourly spot electricity prices
When supply meets demand: the case of hourly spot electricity prices Alexander Boogert Commodities 2007 London, 17-18/01/2007 Essent Energy Trading, the Netherlands Birkbeck College, University of London,
Merchant Interconnectors
Merchant Interconnectors David Newbery EPRG Winter Research Seminar Cambridge 15 December 2006 http://www.electricitypolicy.org.uk Outline Strong pressure from EC to increase interconnection impeded by
7: The electricity market
7: The electricity market 94 : Facts 2008 : Energy and Water Resources in Norway The power sector in Norway is regulated by the Energy Act. Market-based power trading is one of the principles incorporated
Authority for Consumers and Markets National Report on energy regulation in 2012 1/42
Authority for Consumers and Markets National Report on energy regulation in 2012 1/42 Table of contents 1. Foreword... 3 2. Main developments in the gas and electricity markets... 4 3. The electricity
Contents. 3 Executive summary. 7 Chapter 1 The energy consumers use and the prices they pay. 9 Chapter 2 Wholesale energy markets
Contents 3 Executive summary 7 Chapter 1 The energy consumers use and the prices they pay 9 Chapter 2 Wholesale energy markets 15 Chapter 3 The influence of the six large energy companies across generation
REGULATION OF THE GAS SUPPLY MARKET FREQUENTLY ASKED QUESTIONS
REGULATION OF THE GAS SUPPLY MARKET FREQUENTLY ASKED QUESTIONS Why is it necessary to regulate gas supply in a free market? Manx Gas has a natural monopoly in the Isle of Man gas supply market. Given the
2014 National Report To the European Commission Denmark
2014 National Report To the European Commission Denmark Table of contents 1 Foreword... 3 2 Main developments in the gas and electricity markets... 4 2.1 The electricity market... 4 2.1.1 Wholesale...
Security of electricity supply
Security of electricity supply Definitions, roles & responsibilities and experiences within the EU Thomas Barth Chairman of Energy Policy & Generation Committee EURELECTRIC Outline Security of Supply a
market design policy paper
market design policy paper 15 September 2014 1 introduction Ensuring economic growth, jobs, secure coverage of basic needs at an affordable and competitive price, and sustainable use of limited resources
Regulatory Briefing. Capital Markets Day. 17 October 2013
Regulatory Briefing Capital Markets Day 17 October 2013 Agenda Andrew Koss Director of Strategy Damien Speight Head Trader Renewables Obligation Contracts for Difference Levy Control Framework Capacity
ACER. oj L 211, 14.8.2009, p. 1. 20J L 211, 14.8.2009, p. 15. 3. RECOMMENDATION Of THE AGENCY FOR THE COOPERATION OF ENERGY REGULATORS No 02/2014
In THE AGENCY FOR THE COOPERATION OF ENERGY REGULATORS, ON THE NETWORK CODE ON FORWARD CAPACITY ALLOCATION 22 May 2014 RECOMMENDATION Of THE AGENCY FOR THE COOPERATION OF ENERGY REGULATORS No 02/2014 Page
European Power Exchanges Challenges for market integration
Mikael Lundin CEO Nord Pool Spot AS European Power Exchanges Challenges for market integration Helsinki, March 17 th 2011 About Nord Pool Spot Nord Pool Spot runs the largest market for power in the world
MANITOBA [IYDRO. Corporate Risk Management Middle Office Report Sept 2009
MANITOBA [IYDRO Corporate Risk Management Middle Office Report Sept 2009 A. Credit On-going review and advisory support continued to be provided to PS&O (Power Sales and Operations) credit function to
Creation and Transfer of Price Risk in European Energy Markets
Creation and Transfer of Price Risk in European Energy Markets Alessandro Mauro Director of Risk Management Energy Risk Summit Central & Eastern Europe Prague, 9 th -10 th of November, 2009 9, rue du Conseil
ESB NATIONAL GRID RESPONSE TO CER/03/266 INTERCONNECTOR TRADING PRINCIPLES IN THE MAE
ESB NATIONAL GRID RESPONSE TO CER/03/266 INTERCONNECTOR TRADING PRINCIPLES IN THE MAE ESB NATIONAL GRID PAGE 1 EXECUTIVE SUMMARY There are a number of considerations to be made in relation to interconnector
Market coupling: looking at the future of the Italian Power Exchange
Market coupling: looking at the future of the Italian Power Exchange Anna Creti, Eileen Fumagalli IEFE Università Bocconi Elena Fumagalli Politecnico di Milano Giusi Squicciarini Autorità per l energia
Full year 2014 results. Analyst meeting Brussels, 27 February 2015
Full year 2014 results Analyst meeting Brussels, 27 February 2015 Disclaimer - This presentation is only provided for general information purpose about Elia and its activities. The included statements
Convegno nazionale di apertura 2014 IL FOTOVOLTAICO IN ITALIA ALLA SFIDA DEL MERCATO: NUOVI BUSINESS MODEL PER L ERA DELLA GRID PARITY
Convegno nazionale di apertura 2014 IL FOTOVOLTAICO IN ITALIA ALLA SFIDA DEL MERCATO: NUOVI BUSINESS MODEL PER L ERA DELLA GRID PARITY Fiera Milano 7 maggio 2014 New business models for the PV industry
Different types of electricity markets modelled using PLEXOS Integrated Energy Model The UK Balancing Market example
Different types of electricity markets modelled using PLEXOS Integrated Energy Model The UK Balancing Market example Peny Panagiotakopoulou, Senior Power Systems Consultant, Energy Exemplar Europe Overview
Secondary and short term natural gas markets International experiences
Secondary and short term natural gas markets International experiences Bogotá, 13 th May 2011 Presented by: Dan Harris Principal The Brattle Group Copyright 2011 The Brattle Group, Inc. www.brattle.com
OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013
OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013 A (VERY) BRIEF OVERVIEW OF THE OIL INDUSTRY End consumers buy refined products (eg gasoline / diesel) Refineries buy crude oil
Case Study: The Accomplishments and Shortcomings of Australia s Renewable Energy Target: A Pure Market-Based Support Mechanism
RENEWABLE ENERGY INVESTORS AND FINANCIERS Case Study: The Accomplishments and Shortcomings of Australia s Renewable Energy Target: A Pure Market-Based Support Mechanism Lessons for Other Jurisdictions
Role of Power Traders in enhancing market dynamics
Role of Power Traders in enhancing market dynamics Date: 08 th March 2011 Sunil Agrawal (Head GMR Energy Trading) & Tanmay Pramanik (Assoc. Mgr GMR Energy Trading) Evolution of Power Trading business Internationally
Final Draft Framework Guidelines on Capacity Allocation and Congestion Management for Electricity Ref: E10-ENM-20-03 3 February 2011
Final Draft Framework Guidelines on Capacity Allocation and Congestion Management for Electricity Ref: E10-ENM-20-03 3 February 2011 European Regulators Group for Electricity and Gas Contact: Council of
Power Trading and Retail System. empowering. smarter trading. across the energy value chain. Smart energy. Powering progress
Power Trading and Retail System empowering smarter trading across the energy value chain Smart energy. Powering progress In today s turbulent and increasingly complex energy markets, Atos Worldgrid PTRS
EPEX SPOT Markets and Products 2012 Review & Current developments
EPEX SPOT Markets and Products 2012 Review & Current developments Sylvie Tarnai & Katharina Niciejewska EEX Summer Workshop Marriott Hotel Leipzig 6 th June 2013 EPEX SPOT 2013 All rights reserved Use
Seminar. Global Foreign Exchange Markets Chapter 9. Copyright 2013 Pearson Education. 20 Kasım 13 Çarşamba
Seminar Global Foreign Exchange Markets Chapter 9 9- Learning Objectives To learn the fundamentals of foreign exchange To identify the major characteristics of the foreign-exchange market and how governments
9M10 Results Presentation
9M10 Results Presentation November 5th, 2010 9M10: Highlights of the period EBITDA: 2,651m, +9% YoY EBITDA from Brazil: +28% YoY: 19% of EDP Group EBITDA in 9M10 Electricity distributed +15% YoY EBITDA
Understanding the Capacity Market
Understanding the Capacity Market The Capacity Market What is The Capacity Market? The Capacity Market is a mechanism introduced by the Government to ensure that electricity supply continues to meet demand
Public consultation on measures to ensure the adequacy of the conventional means of electricity production in Belgium n
Amstelveenseweg 998 1081 JS Amsterdam Phone: + 31 20 520 7970 Email: secretariat@efet.org Website: www.efet.org Public consultation on measures to ensure the adequacy of the conventional means of electricity
ESRI Research Note. The Irish Electricity Market: New Regulation to Preserve Competition Valeria di Cosmo and Muireann Á. Lynch
ESRI Research Note The Irish Electricity Market: New Regulation to Preserve Competition Valeria di Cosmo and Muireann Á. Lynch Research Notes are short papers on focused research issues. They are subject
FINANCIAL RESULTS Q2 2015
FINANCIAL RESULTS Q2 2015 CEO CHRISTIAN RYNNING-TØNNESEN CFO HALLVARD GRANHEIM 23 July 2015 Highlights Solid underlying results (EBITDA) - Lower Nordic prices offset by increased production and contribution
VALUING FLEXIBILITY 20 May 2014 Florence Forum Stephen Woodhouse, Director, Pöyry Management Consulting
VALUING FLEXIBILITY 20 May 2014 Florence Forum Stephen Woodhouse, Director, Pöyry Management Consulting THE NEED FOR FLEXIBILITY IS GROWING With new forms of generation. prices and dispatch patterns will
PJM Overview and Wholesale Power Markets. John Gdowik PJM Member Relations
PJM Overview and Wholesale Power Markets John Gdowik PJM Member Relations PJM s Role Ensures the reliability of the high-voltage electric power system Coordinates and directs the operation of the region
Wholesale price movements and price drivers. Interconnector flows
Market Review 213 Market Prices and costs coupling Introduction Price volatility The electricity market is going through a phase of rapid change. While the process of European integration of electricity
A report to the Commission for Energy Regulation and the Utility Regulator. February 2011 DAY-AHEAD MARKET COUPLING OPTIONS FOR THE SEM
DAY-AHEAD MARKET COUPLING OPTIONS FOR THE SEM A report to the Commission for Energy Regulation and the Utility Regulator DAY-AHEAD MARKET COUPLING OPTIONS FOR THE SEM Contact details Name Email Telephone
Study on flexibility in the Dutch and NW European power market in 2020
Study on flexibility in the Dutch and NW European power market in 2020 A REPORT PREPARED FOR ENERGIENED April 2010 Frontier Economics Ltd, London. April 2010 Frontier Economics i Study on flexibility
Discussion Paper by CERC Staff
Improvement of Market Efficiency by information dissemination through display of Aggregate Demand and Supply Day Ahead curves by Power Exchange on their website Discussion Paper by CERC Staff Table of
Capital Market Day. Munich, September 6, 2004
Capital Market Day Munich, September 6, 2004 E.ON Energie: Our Business Model Johannes Teyssen, CEO E.ON Energie AG and Member of the Board of E.ON AG for Downstream Agenda Our vision and mission and what
J. Gaspar: Adapted from Jeff Madura International Financial Management
Chapter3 International Financial Markets J. Gaspar: Adapted from Jeff Madura International Financial Management 3-1 International Financial Markets Can be segmented as follows: 1.The Foreign Exchange Market
Evolution of Transmission Rights in the European Electricity Market
Evolution of Transmission Rights in the European Electricity Market Christof Duthaler, Matthias Finger Abstract In the European electricity market, transmission rights currently evolve from a physical
Gaspoint Nordic Definitions
Gaspoint Nordic Definitions Appendix 9 Published Copyright Gaspoint Nordic A/S 01052015 Definitions Access Holder means a company having entered into a Trial Period Agreement or a View only Agreement with
Guidance Notes for the Austrian VTP Appendix Version 2.0 to the EFET General Agreement concerning the Delivery and Acceptance of Natural Gas 2.
Guidance Notes for the Austrian VTP Appendix Version 2.0 to the EFET General Agreement concerning the Delivery and Acceptance of Natural Gas 2.0(a) Please note that the Austrian VTP Appendix is designed
Electricity Spot Markets: The Singapore Experience
Electricity Spot Markets: The Singapore Experience GCCIA 3 rd Regional Power Trade Forum Abu Dhabi 29 September 2014 Presented by Tan Liang Ching Vice President, Energy Market Company, Singapore 1 1 Presentation
Competition in EU Electricity Markets The Role of Antitrust Policy
Presentation at SNF-SESSA Conference, Bergen, March 4th, 2005. Competition in EU Electricity Markets The Role of Antitrust Policy Miguel de la Mano Member of the Chief Economist Team, DG Competition (*)
Impact of Renewable generation
Impact of Renewable generation Workshop Greenpeace - Terna "Power30" ROME, October15 th 2014 Index - Innovative Solutions Implemented - Main changes in the last years From liberalization to nowadays Investments
The Impact of Futures Trading on Commodity Markets and Prices. Dr. James L. Smith, Cary M. Maguire Chair in Oil & Gas Management
The Impact of Futures Trading on Commodity Markets and Prices Dr. James L. Smith, Cary M. Maguire Chair in Oil & Gas Management EIA Annual Conference April 26, 2011 Some Questions How does futures trading
Review of the activities of Electricity System Commercial Operator. Tbilisi, January 2014
Review of the activities of Electricity System Commercial Operator Tbilisi, January 2014 SECTOR PLAYERS Policy Implementation Ministry of Energy and Natural Resources Independent Regulator Georgian National
A decade of "Rough" storage trading results in the UK NBP gas market:
A decade of "Rough" storage trading results in the UK NBP gas market: Benchmarking storage trading strategies Cyriel de Jong, Alexander Boogert, Christopher Clancy KYOS Energy Consulting How much money
Introduction Anders Plejdrup Houmøller, CEO Houmoller Consulting ApS
Introduction Anders Plejdrup Houmøller, CEO Houmoller Consulting ApS Appendix 1 defines what intra-day trading of electricity means in a large part of Europe. Appendix 2 contains a map of 5 of the synchronous
Introduction to Ontario's Physical Markets
Introduction to Ontario's Physical Markets Introduction to Ontario s Physical Markets AN IESO MARKETPLACE TRAINING PUBLICATION This document has been prepared to assist in the IESO training of market
Quarterly Wholesale/Retail Price Report
Quarterly Wholesale/Retail Price Report February 29 Contents Overview 3 Summary of analysis 1. Customer bills, wholesale costs and margins 5 Electricity Gas 2. Scenario analysis: Impact of retail price
EU gas hub development and a comparison with US Henry Hub
EU gas hub development and a comparison with US Henry Hub Dennis Hesseling, Head of Gas Department EU US Energy Regulatory Round table Madrid, April 26 2016 Objectives Objectives for today.highlight diversity
The Nordic financial electricity market
The Nordic financial electricity market Report 8/2010 1 THE NORDIC FINANCIAL ELECTRICITY MARKET Nordic Energy Regulators 2010 Report 8/2010 NordREG c/o Energy Markets Inspectorate P.O. Box 155 SE-631