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Central European Energy Markets: The Buffer Zone between Western Europe and Russia

London, 3 October 2006. Central European Energy Markets: The Buffer Zone between Western Europe and Russia. Structure of presentation. Central Europe Where is it? What energy markets (if any) operate there? Why is it important anyway?. Central Europe. SSE. Bert. DEMASZ/D-Energia.

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Central European Energy Markets: The Buffer Zone between Western Europe and Russia

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  1. London, 3 October 2006 Central European Energy Markets:The Buffer Zone between Western Europe and Russia

  2. Structure of presentation • Central Europe • Where is it? • What energy markets (if any) operate there? • Why is it important anyway?

  3. Central Europe SSE Bert DEMASZ/D-Energia

  4. Electricity – independent region • Net exporter to Germany/Austria and Italy • Net importer from South-East Europe • Not synchronised with the Russian/Ukrainian power systems • Credit and risk management: less developed than its Western neighbours, but higher credit awareness than Russian/Ukraine

  5. Gas – dependent region • The preferred fuel of Socialism • Dash for gas programmes • With the exception of RO and HU, limited use of gas in power generation • LNG projects to diversify gas sources • Too little and too expensive • Existing dominant players as developers • Too important not to be controlled • Further structural and ownership changes in the pipeline

  6. EUA – developing region • Over-allocated • With the exception of SI, app. 15%/country • But questions over timing and method of allocation for individual plants remain • Regulatory problems • Banking rules • Right to sell surplus certificates • One of the main drivers for EUA market in Q406 and Cal07

  7. Why should we bother? • Increasingly integrated with EU electricity markets • PL/CZ/HU/SI to DE/AT/IT cross-border auctions • Main corridor for East to West gas flow • Possibility to create temporary, transit problems • One of the main drivers for EUA prices • How and when will CE longs find their ways to the market?

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