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Day ahead capacity Workshop Bonn 9 February

Day ahead capacity Workshop Bonn 9 February. European Federation of Energy Traders. EFET position Adam Cooper EFET Gas Committee. Outline. Background to proposals Initial proposals. Background to Proposals. Development of German virtual hubs ERT development of a ‘Choice market’

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Day ahead capacity Workshop Bonn 9 February

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  1. Day ahead capacity WorkshopBonn 9 February European Federation of Energy Traders EFET position Adam Cooper EFET Gas Committee

  2. Outline • Background to proposals • Initial proposals

  3. Background to Proposals • Development of German virtual hubs • ERT development of a ‘Choice market’ • Concern about how to participate • Availability of capacity viewed as important for liquidity and hub success • Capacity access may reduce imbalance risk • EFET developed ideas for a quickly implemented pilot solution

  4. Initial Proposals • Proposed a number of border points for firm and interruptible capacity • Sought a bundled entry-exit product to enhance hub to hub trading • Allow voluntary capacity recycling from users • Outlined timetable • Considered revenue issues

  5. Border Points

  6. Timetable D-1 • Any time before the auction up to 0900 invite shippers to voluntarily offer any available capacity • Before 0930 the operator publishes available capacity and its nature • Between 0930 and 1000 participants indicate volume and price bids in Euro/MW • Results before 1015

  7. Nature of Auction • Held early in the day to promote further trading activity • No upper or lower price limits • Could use a cleared price • Same per unit revenues (could differ for firm and interruptible) accrue to either the TSO or users offering capacity • Half revenue to users placing only entry or exit

  8. Implementation • Sought implementation by 1 April 2007 • Auction through secure websites • Use of a common platform to avoid system duplication • Outcomes to provide lessons for auctions of other capacity products

  9. Thank you!

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