1 / 62

Istanbul – 12.11.2009 V. Gerikh, INTER RAO UES Topics/ Темы

Istanbul – 12.11.2009 V. Gerikh, INTER RAO UES Topics/ Темы. What is INTER RAO UES Russian energy sector and forecast for 2015/2020 Market structure Обзор ОАО «ИНТЕР РАО ЕЭС» Электроэнергетика России и прогноз развития до 2015 и 2020г.г. Структуры рынка. Company Profile.

isaiah
Download Presentation

Istanbul – 12.11.2009 V. Gerikh, INTER RAO UES Topics/ Темы

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Istanbul – 12.11.2009V. Gerikh, INTER RAO UES Topics/Темы What is INTER RAO UES Russian energy sector and forecast for 2015/2020 Market structure Обзор ОАО «ИНТЕР РАО ЕЭС» Электроэнергетика России и прогноз развития до 2015 и 2020г.г. Структуры рынка

  2. Company Profile INTER RAO UES is a fast-growing energy company with a number of generation and distribution assets in Russia and abroad. The total installed capacity of the electric power plants controlled or owned by the Company is about 18 GW. The company is a major investor and a leading exporter and importer of electricity in Russia.

  3. INTER RAO UES’ short History 2009 2008 • INTER RAO starts integration with OGK-1 • INTER RAO obtains 51% Stake in Lithuanian trading energy operator ERC 2007 • Completes the reorganization and becomes public, starts share trading • INTER RAO becomes an owner of 100% stake in Moldova GRES • In February RAO UES approved The Key Principles of Development Strategy till 2015 2006 • INTER RAO started the reorganization and transformation to target business structure by consolidating 4 generation assets in Russia • INTER RAO subsidiary acquires 100% of electric networks of Armenia 2005 • INTER RAO expands into Central Asian markets with the acquisition of power generation assets in Kazakhstan and Tajikistan • INTER RAO acquires generation assets in Moldova • The Company increases own generation in Russia by leasing Kaliningradskaya power plant and acquiring an interest in Severo-Zapadnaya power plant • The Company participates in the Free Trading Sector of the Russian Wholesale Electricity Market • RAO Nordic Oy, a subsidiary of INTER RAO, becomes one of the largest business structures in Finland 2004 • Rosenergoatom becomes shareholder by acquiring a 40% stake • The Company acquires generation and distribution assets in Armenia and Georgia • Independent export of electricity from Russia to Scandinavia (Nord Pool) • Company starts owning power generation in Russia by leasing Iriklinskaya power plant 2003 • The Company delivers electricity generated on foreign markets and in Russia • Projects initiated to open trading subsidiaries abroad 2002 • INTER RAO is founded as a 100% subsidiary of RAO UES 2001 1997

  4. Company Profile

  5. INTER RAO: Business Description Holding of generation, distribution and trading assets in Russia and abroad: CIS, Caucasus, Central Asia, Northern and Eastern Europe. Major export-import operator in Russia (more than 90% of total volume) Installed capacity under management and control is about 18 000 MW (incl. OGK-1) Trading in 2008: 9531 INTER RAO installed capacity export operation 20 575 mln kWh import to Russia 3 047 mln kWh 2520 1863 1375 1000 820 670 sales outside of Russia 3 047 mln kWh Russia OGK1 Armenia Georgia Moldova Kazakhstan Tajikistan 57.34% of the Company is under the State control (state owned). Breakdown Generation Capacity by Fuel Type 34,33% 8,33% 57,34% 32% 18% Coal Hydro Minorities Gazprom Rosatom 10% 41% Nuclear Gas

  6. Trading Geography Total capacity of controlled flows is 10 140 MW Structure of electric power imports in 2008 Structure of electric power exports in 2008 Lithuania 7,6% Kazakhstan 10,7% Latvia 7,9% China 0,9% Finland / Nord Pool (1400) Belarus 11,6% Ukraine 5,4% Azerbaijan 0,5% Other 9% Latvia (700) Mongolia 0,95% Russia Lithuania (680) Finland 51,2% Georgia 3,25% Norway 0,9% Belarus (1450) Kazakhstan (North-390) Ukraine (2000) Kazakhstan (South-500) Mongolia (175) Lithuania 7,6% Romania Georgia (400) and Turkey Kyrgyzstan Georgia 3,25% Azerbaijan (300) Kazakhstan 10,7% China (295) Iran Azerbaijan 0,5% Mongolia 0,95% Major imports to Russia Interchange capacity flows are shown in parenthesis (in MW). Major exports from Russia Major power trades not transiting Russia

  7. Generation in Russia (2008) Sochi TPP (2005) Kaliningrad CHP-2 (2005) North-West CHP* (2002, 2006) Ivanovo CCPP (2007) Ivanovo CCPP – 1-st Russian technology unit 78MW, gas, output in 2008 – 434 mln kWh CUR** in 2008 – 63,43% 450MW/325 Gcal/h, gas, output in 2008 – 2 689 mln kWh, CUR** in 2008 – 87,93% 900 MW/700 Gcal/h, gas, output in 2008 – 4 366 mln kWh, CUR** in 2008 – 70,08% 325MW, gas, output in 2008 – 653 mln kWh CUR** in 2008 – 26,83% The most modern and efficient gas-fired power plants in Russia Ivanovsky Stand 110MW, gas Generation capacity in Russia owned by the Company is 1 863MW. Total electricity output in 2008 was 8 142 mln kWh. Total heat output in 2008 was 1 037 ths Gcal. *N-W CHP is situated in St Petersburg. ** CUR - capacity utilization rate (КИУМ)

  8. From March 17, 2009 - 61,9% of OGK-1 (HSGC) is under management, from July 6, 2009 INTER RAO became an Executive body of OGK-1 2008 Performance (with the results of NVGRES) Electricity output 51, 500 mln kWh Urengoy GRES (YNAD), 24 MW Electricity Productive Supply 49,092mln kWh Moscow Heat Supply from Headers 1 316,5 thousandGCal Nizhnevartovskaya GRES (KMAD), 1600 MW Capacity Utilization Rate 61.5% Fuel type 91% - gas RAS Financial Results (without the results of NVGRES) Verkhnetagilskaya GRES (Yekaterinburg region), 1497 MW Revenue 46, 569mln RUB Gross Profit 5,761mln RUB Irikla TPP (Orenburg region), 2430 MW Net Profit 1, 086mln RUB IFRS Financial Statements (with the results of NVGRES) Revenue 49 898 mln RUB Net profit 7 918 mln RUB • OGK-1 has incorporated 6 thermal power plants (GRES) and is the largest among OGKs in installed capacity – 9,531 MW***. • Company's power generation assets are all based in the most energy deficient areas of Russia with the projected high electricity demand. • The Company has one of the most modern set of generating assets: • - Average age of generating capacity amounts to 30 years • - Average fuel equivalent consumption amounts to 330.5gfe/kWh ***2 existing power units of Nizhnevartovskaya GRES were transferred to the authorized capital of ZAO “Nizhnevartovskaya GRES”. 100% shares of ZAO “Nizhnevartovskaya GRES” belong to NVGRES HOLDING LIMITED (NHL). 75% - 1 share of the NHL authorized capital belong to JSC «OGK-1», 25%+1 share belong to TNK-BP. RusHydro; 21,71% FGC UES Index 2,93% Minorities; 34,21% RusHydro Index; 0,98% FGC UES; 40,17%

  9. Generation and Distribution Abroad Moldova Kazakhstan 5 715 MW of installed capacity under management and control. Total electricity output in 2008 was 12 937 mln kWh (without Sangtudinskaya GES-1, that produced 1 142 mln kWh) MoldavskayaGRES*, 2520 MW, gas/coal, 100% owned, output in 2008 – 2 631 mln kWh Ekibastuzskaya GRES-2, 1000 MW coal, 50% owned, output in 2008 – 6 199 mln kWh Foreign generation assets are located in the regions with above-average growth rates (CIS countries) • Moldavskaya GRES is one of the largest thermal PP in Eastern Europe with the export potential to UCTE zone. It has ability to export electricity to Romania, Belarus, Ukraine, Bulgaria. • Ekibastuzskaya GRES-2 utilizes local cheap coals producing high-competitive electricity the part of which is being imported to Russia. The PP generates about 8% of total volume of electric power generated in Kazakhstan. • Mtkvari Energy LLC is one of the most cost-efficient gas-fired PP in Georgia (Tbilisi). It sells electricity to Telasi (distribution company, subsidiary of INTER RAO). • Khramhesi GES-1 and GES-2 are under management control of INTER RAO UES. Both hydroelectric power plants also sell electricity to Telasi. • Sevano-Razdanskiy Cascade of HPPs sells electricity to ENA (distribution company, subsidiary of INTER RAO) Georgia Armenia Mtkvari Energy LLC, 600 MW, gas, 100% owned, output in 2008 - 503 mln kWh Khramhesi GES-1 and GES-2, 220 MW, hydro, under management, output in 2008 – 565 mln kWh Armenian NPP 815 MW, nuclear, under management, output in 2008 – 2 462 mln kWh Sevano-Razdanskiy Cascade of HPPs, 560 MW 90% owned, output in 2008 – 577 mln kWh Georgia Armenia Generation Distribution Telasi 75% owned, about 410 000 customers Electric Networks of Armenia 100% owned, about 900 000 customers

  10. Capital Expenditures Program (Current Assets) for 2010-2014* New capacity in Russia Breakdownby years Project New capacity Financing Commissioning Project Unit 3 at Sochi TPP 80 MW Credit (VEB) 2009 Olympic Games in 2012, current power deficit Unit 2 at Kaliningrad CHP-2 450 MW SPV (51% - Gazprom; 49% -INTER RAO) 2010 Export to Baltic countries Reconstruction of Ivanovo CCPP 325 MW Internal sources 2010 Stability of power supply, supply to Moscow region New capacity abroad Project New capacity Financing Commission. Unit 3 at Ekibastuz GRES-2 (Kazakhstan) 500 MW debt capital 2014 * Without OGK-1 The capital expenditure program is not mandatory (as in OGKs) and is subject to adjustments according to market conditions and other factors and does not have Capacity supply agreements

  11. April 2009 $ 50.000.000 Loan facilityunsecured Fully repaid in time 1 year August 2009 10.000.000.000 rubles Credit Lineunsecured Launched for INTER RAO 5 years May 2009 $ 50.000.000 Loan facilityunsecured Fully repaid in time 1 year March 2009 $ 130.000.000 Loan syndicated facilityunsecured Fully repaid in time 1 year January 2009 € 220.000.000 Loan facilityunsecured Launched for INTER RAO 3 years April 2009 € 42.000.000 Credit linesecured (corporate guarantee) Launched for ENA (Armenia)8 years March 2008 $ 150.000.000 CLN unsecured Fully repaid in time 2 years January 2009 3.700.000.000 rubles Credit lineunsecured Launched for Sochinskaya TES 9.5 years July 2008 $ 163.000.000 Loan facilityunsecured Launched for INTER RAO 5 years INTER RAO Credentials

  12. Cooperation with International Partners Export operations in Scandinavia Projects on Russian Power Plants Modernization Export projects to Moldova and Rumania Creation of Joint Venture for Energy Asset management in Europe Cooperation in European projects KEPCO Investments projects Joint Investment projects Strategic partnership by way of creation in Russia of a joint venture (50/50) for project realization in energy efficiency and energy saving. Export projects in the Far East 13

  13. Inter RAO UES stock prices

  14. Generation Assets: Summary (2008) Power Plants Country Ownership Installed Capacity (MW) Fuel Electricity Output (mln kWh) 2007 2008 Severo-Zapadnaya TETs Russia branch 900 Gas 3 495 4 366 Kaliningrad CHP-2 Russia branch 450 Gas 2 579 2 689 Sochi TPP Russia branch 78 Gas 580 434 Ivanovo CCPP (incl. Stand) Russia branch 435 Gas 232 653 Sangtuda HPP-1 Tajikistan ** 670 Hydro - 1 142 Mtkvari Energy LLC Georgia management 600 Gas 1 024 503 Khramhesi HPP-1 and HPP-2 Georgia management 220 Hydro 428 565 Armenian NPP Armenia management 815 Nuclear 2 553 2 462 Sevano-Razdanskiy Cascade of HPPs Armenia 90% 560 Hydro 521 577 Ekibastuzskaya GRES-2 Kazakhstan 50% 1000 Coal 5 298 6 199 Moldavskaya GRES Moldova 100% 2520 Gas, Coal 2 489 2 631 Total Russia 19 199 22 221 Electricity transmission lines of the Holding (length), thsd. km 33,3 INTER RAO has great potential for value creation due to: 10% 18% Breakdown Generation Capacity by Fuel Type • Balanced portfolio of generation assets per fuel type • Vertical integration and synergies across Group’s discos (Armenia and Georgia) 41% 32%

  15. UPS of Russia – part of the former USSR UPS Baltic States: Estonia, Latvia, Lithuania Belarus, Ukraine, Moldova RUSSIA Kazakhstan and Central Asia - Tajikistan, KyrgyzstanUzbekistan,Turkmenistan Caucasian Republics: Georgia, Azerbaijan Armenia Mongolia

  16. Short history • 1956 - interconnection between IPS of CENTRE and IPS of Middle VOLGA forming namely UPS of USSR. Till that IPSs had been developing independently. • 1958-1978 – connection of IPS of Urals (1958), IPS of South (now Ukraine, Moldova) (1962), IPS of North-West (1966), IPS of North Caucasus (1969), IPS of Kazakhstan and IPS of Siberia (1978). • 1990-s PSs of the former USSR were for different time periods separated, except IPS of Belarus, IPS of Baltic states and UPS of Russia • From 2000 all PSs are reconnected,except PS of Armenia, which was connected to PS of Iran and PS of Turkmenistan connected to PS of Iran in 2003. Additionally IPS of Central Asia was connected which in Soviet times had been operating separately. Cross-boarder links • In 1962 – foundation of Central Dispatching Office of the Interconnected Power Systems (CDO IPS, Prague) • 1962-1978 – 400 kV lines built, connection of Hungary, GDR, Poland and Czechoslovakia PS, Romania (1963) and Bulgaria PS (1965) • 1979-1993 – Commissioning of 750 kV OHL: USSR-Hungary, USSR-Poland (1984), USSR- Romania (1986), Bulgaria-Romania (1987). B2B S/Ss between COMECON. Annual export from USSR to COMECON countries was about35-40TWh (from Ukraine 30 TWh). From 1993 the IPS were separated in 3 parts. • PSs of Poland, Hungary, Czechia, Slovakia were connected to UCTE in1995). PSs of Romania and Bulgaria (UCTE members from 2003) –first in the UCTE 2-d zone and from 10.2004 – in a single UCTE synchronous area. From 1-st July 2002 the West Ukrainian PS (Burshtyn island) is in parallel operation with the UCTE.

  17. Installed Capacity in Different IPSs of Russia, 01.01.2009

  18. Main Russian PPs TPP HPP 1 Surgut-2 (Ural) 4800 1 Sayano-Shushensk (Siberia) 6400 2 Reftinsk (Ural) 3800 2 Krasnoyarsk (Siberia) 6000 3 Kostroma (Centre) 3600 3 Bratsk (Siberia) 4500 NPP 4 Surgut-1 (Ural) 3280 4 Boguchany (Siberia, under constr.) 3000 N.B. 1. 50% of HPP capacity are installed in Siberia 2. All showed NPP are in European part of Russia 5 Ryazan (Centre) 2640 5 Ust-Ilim (Siberia) 3840 6 Troitsk Ural) 2059 6 Volga (Volzhsky, Centre) 2541 7 Stavropol (South) 2400 7 Zhiguli (Samara, M. Volga)) 2300 8 Zainsk (Middle Volga) 2400 8 Bureya (East) 2000 9 Konakovo (Centre) 2400 9 Cheboksary (Middle Volga) 1370 10 Novocherkask (South) 2112 10 Saratov (M. Volga) 1360 11 Irikla (Ural) 2400 11 Zeya (East) 1330 12 Perm’ (Ural) 2400 12 Nizhnekamsk (M. Volga) 1248 13 Kirishi (North-West) 2100 13 Zagorsk PSPP (Centre) 1200 14 Votkinsk (Ural) 1020 15 Chirkei (South, Dagestan) 1000 1 Balakovo (Middle Volga) - VVER 4x1000 2 Leningrad (N.-West) - RBMK 4x1000 3 Kursk (Centre) - RBMK 4x1000 4 Smolensk (Centre) - RBMK 3x1000 5 Kalinin (Centre) - VVER 3x1000 6 Voronezh (Centre) - VVER 1000+834 7 Kola (N.-West) - VVER 4x440 8 Rostov (South) - VVER 1x1000 9 Byeloyarsk (Ural) - RBN 1x600

  19. UPS of Russia Production, 2008 Total 1023,4 TWh TPP 695,9TWh HPP 165,2 TWh NPP 162,3 TWh TPP NPP HPP

  20. Export/Import from/to Russia TWh Export Import TWh

  21. Export/Import Structure Export Import

  22. NETWORK - Interconnections 2 voltage systems 110 – 220 – 500 – 1150kV in the East of Russia 110 (154) – 330 (400) – 750 kV in the West of UPS/IPS Medley – Eastern Ukraine, Central Russia, North Caucasus, Azerbaijan, Georgia 154 kV – Russia-Norway 400 kV – Russia-Finland

  23. Li La Est Belarus Ural Siberia ±1000 Norw Kaz Mol Poland Finland Kirg Turk Uzb G Az 900 1300/1000 1500/1800 Arm Slovak Tadj Hung 2700/2800 2200/1800 Romania Roman ±1700 1200/1500 Mon 400 300 Roman Iran Turkey Iran UPS/IPS Structure and some Permissible Exchanges Kaliningrad N.-West Middle Volga Ukraine Centre Ural Siberia South

  24. UPS/IPS active power balance, MW. 17.12.2008 (Wednesday), 18.00 (Moscow time)

  25. Covering Russian Daily Consumption Curve (Russia)

  26. Winter Daily Consumption Curve Two peaks. The highest – in the evening Moscow time

  27. Russian Summer Consumption Curves One morning peak in Summer

  28. Power/frequency Control in IPS/UPS • The RAO “EES Rossii” in 2002 established new requirements on the frequency control quality: • normally 50,00 ± 0,05 Hz; • in disturbed regime 50,00 ± 0,2 Hz; • restoration period to normal level 15 min. • Standard requirements (CIS standard): • normally 50,00 ± 0,200Hz • 5 % of daily period 50,00 ± 0,400Hz

  29. Daily average frequency deviations for some years 1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004 Further years – the same Daily average standard frequency deviations for some years

  30. Frequency distribution

  31. Russian Reform Legislative Basis The Energy Reformpackage signed on 26.03.2003: Federal Law“On Electric Power Sector” Amendments to Federal Law“On Natural Monopolies” Federal Law“On Peculiarities of Electric Power Sector during Transition” Amendments to Civil Code Amendments to Federal Law “On Energy Saving” Amendments to Federal Law “On State Regulation of Electricity and Heat Tariffs” • This paved the way for the reforms: • Unbundling of the Russian power sector into competitive (generation and supply) and monopolistic (transmission and dispatching) segments • New structure of wholesale and retail electricity markets, with an equilibrium price based on submitted bids • Guarantees for reliable electricity supplies, as well as insurance of the rights and concerns of minority shareholders and the State

  32. UES of Russia main players Independent System Operator(under state control), created in June 2002: - Central Dispatching Office for UES - 7 ODU-branches (interconnected power systems) - 56 Regional Dispatch Unites Federal Grid Company (under state control) maintains the E(U)HV network INTER RAO UES – now single commercial export/import operator Market council (non-profit-making partnership) formed after RAO UES dissolution, main task – market rules (procedures) JSC Administrator of Trade System (ATS) administers the competitive power (energy) market Wholesale Generating companies (state owned “Rosenergoatom”, 1 HGC + 6 TPP GC) Regional Generating companies - 14.

  33. Development forecast needs to be revised – preliminary forecast Previous forecast Basic Conservative

  34. Limitations Reserves Export Load peak Needs of generating capacity Δ 100,7 GW Base scenario Δ 78,0 GW Conservative scen. Base scenario Conservative 303,7 ∆ 100,7 281,0 ∆ 78,0 33,1 ∆ 13,1 252,7 34,0 ∆ 14,0 39,4 ∆ 11,9 239,1 213,7 37,5 ∆ 9,9 207,0 25,8 16,3 ∆ 13,2 203,0 203,0 26,2 34,5 16,3 ∆ 13,2 24,4 214,9 ∆ 62,5 33,4 20,0 24,6 20,0 193,2 ∆ 40,8 27,9 9,6 27,5 27,6 9,6 27,5 3,1 6,1 6,1 169,9 3,1 152,4 148,7 182,8 155,3 152,4 2008 2010 2015 2020 2008 2010 2015 2020

  35. New PP

  36. Baltic NPP in Kaliningradregion–particular project 2009: • RF Government decree in September 2009 • Export options being designed • Establishment of working groups with participation of Russian System operator, Federal Grid company (FSK EES) etc. • Correction of social and economic program of the Kaliningrad Region • Public discussions in Kaliningrad over the NPP construction • Preliminary studies and analysis (plant design, environmental impact assessment work) over • Looking for potential interested foreign strategic partners Project details: • Public-private partnership intended • 51% – State Atomic Energy Corporation “Rosatom”, 49% - divided between private investors, incl. foreign investors • Project costs assessment: • $ 6 bn (NPP itself) • $ 1,4 bn (lines & B2B stations) • OJSC “INTER RAO UES” is to organize financing scheme and export operations • Exploitation duration – 50 years • Annual usage of installed capacity– 90% • Capacity: 2.300 MW (2 x 1.150 MW) • Commissioning: 2016 • Technology: AES-2006 VVER-1000 • Employees: 1.200 • Site: near the city of Neman on the Neman river (Memel), at the Lithuanian border Description Current status

  37. Potential export directions from Kaliningrad region 5 4 Lines modernization 3 CHPP-2 2 Baltic NPP 1' Existed transmission lines 1 Projected transmission lines Potential export directions Nuclear power plant Heat power plant Hydro power plant Thermal power plant Substation Interconnection Capital • Projects in Kaliningrad region: • Interconnection of Kaliningrad region power system with Polish power system 400 kV through B2B station up to 1000 MW. • Alternative - undersea cable 400 kV. • 2. HVDC cable up to 1000 MW Kaliningrad – Sweden (or Germany). • OHL 330 kV Kaliningrad – Lithuania (reconstruction and/or new). • Projects in Baltic States: • HVDC cable 700-1000 MW Lithuania – Sweden (“Swedlink”). • HVDC cable 650 MW Estonia – Finland (the second line) “Estlink-2”.

  38. New generating capacities in Southern IPS (part of BSR) till 2012 Tuapce (CCPP-150 MW, 2011) Tuapce TPP (CCPP-180 MW, 2012) Adler TPP (2 CCPP-180 MW, 2012) Olympic TPP (2 CCPP-180 MW, 2012) Sochi CPP (CCPP-80, 2009) Nevinnomyssk TPP (CCPP-410, 2010) Stavropol TPP (2 CCPP-400, 2010,2011) Volgodonsk (Rostov) NPP (2-d unit 1000 MW, 2009)

  39. Cooperation in the Black sea region Russia has cooperation agreements with all countries around the Black sea. Romania is a potential export window for Moldova TPP. A new B2B station at Isaccea SS is under consideration or the radial connection of some units to Romanian PS. The undersea cable project Romania – Turkey represents interest. A 2-d OHL 330 kV Azerbaijan – Russia under discussion as commercial line. Electricity interexchanges organization in Transcaucasian area, including transits, and from there. Building new HPP in Georgia. Participation in privatization. Etc

  40. NPP projects, GW

  41. Markets What is INTER RAO UES Russian energy sector and forecast for 2015/2020 Market structure Обзор ОАО «ИНТЕР РАО ЕЭС» Электроэнергетика России и прогноз развития до 2015 и 2020г.г. Структуры рынка

  42. Russian Electricity markets BM - balancing market FBCD – Free Bilateral contract on deviations

  43. Regulated contracts Regulated contracts(RC) market– energy and power trading with tariffs approved by the Federal tariff service RCis signed for 1 year by sellers, buyers and ATS (administrator of Trading system) In 2009the volume of RCs covers 50% of energy and 50% of installed capacity of the 2007 year balance (reference year) and these volumes are decreasing (next slide) 8760 values of energy/power for any supply node (group of nodes) are fixed in RC – for each hour

  44. Liberalization level Regulated market share

  45. Regulated market – pricing principles • Prices in each contract = installed seller’s tariff for power and energy • energy production is based on statistical data on balance 2007 • 100% of installed capacity Buyer Seller Buyer Buyer • The buyer is obliged to buy 3% above the yearly plan • Total volume of energy in regulated contracts = plan + reserve Seller Seller Buyer Seller Seller

  46. Ensuring the RCs – example for export

  47. Free bilateral contracts (FBC) FBC – electricity (power) trading mechanism with free volumes and prices, determined by seller/buyer (the nodal prices differences have to be paid) It’s a hedge against the DAM (day ahead market) prices strike

More Related