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Explore the evolution of the European energy market, with interconnected hubs and consistent market rules. Wholesale prices have converged, and more market-based mechanisms are needed for capacity use, investment, and balancing. Discover the potential for a single balancing point.
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The internal market: 25 interconnected hubs or a single European Balancing Point?
More. Wider. Deeper. And governed by a consistent set of market rules.
In these NW markets wholesale prices have converged already, both y+1…
… and m+1 NBP: Current price for November 11: 65.6 p/th (25.7 €/MWh) TTF: Current price for November 11: 25.75 €/MWh NCG: Current price for November 11: 25.80 €/MWh PEG: Current price for November 11: 25.95 €/MWh PSV: Current price for November 11: 33.30 €/MWh (last trade; no market yet)
Capacity use: overselling and buy back Contractual congestion Q max tech not used Q booked Meter readings Flow More market based mechanisms needed in 3 dimensions: capacity use
Capacity investment: economic tests More market based mechanisms needed in 3 dimensions: capacity investment
Shippers bid at pre-defined price steps, starting with regulated tariff Capacity investment: economic tests
Shippers bid at pre-defined price steps, starting with regulated tariff Capacity investment: economic tests
Shippers bid at pre-defined price steps, starting with regulated tariff Capacity investment: economic tests
Clearing price reached as soon as volumes ≤ available quantity Capacity investment: economic tests
You could add unlimited price steps – or define trigger level for new investment Capacity investment: economic tests
Agreed level of market demand triggers investment of specified incremental capacity Capacity investment: economic tests
More market based mechanisms needed in 3 dimensions: balancing. Balancing: single end-of-day cash-out + 0 - Q [MW] 6 6 System buy offtakes System sell Line pack inputs t
Network user buy update of end of day forecast for NDM More market based mechanisms needed in 3 dimensions: balancing Balancing: single end-of-day cash-out Q [MW] N.u. nomination d (adjusted) N.u. nomination d-1 t Individual load curve Individual load curve (adjusted)
European Federation of Energy TradersAmstelveenseweg 9981081 JS AmsterdamTel: +31 (0)20 5207970Email: secretariat@efet.org www.efet.org