Transcript Document
2006 APEX Conference
Seoul, 31th October 2006 SESSION 1 - PART 1: EUROPEAN MARKETS SITUATION “MARKET TRANSPARENCY SITUATION IN EUROPE” Maria luisa Huidobro President & CEO of OMEL
INDICE 1.
Main issues related to the European Single Market.
2.
Towards a common standard on market transparency.
3.
EuroPEX view.
4.
Some examples of data published by Power Exchanges.
1.
Main issues related to the European Single Market
MAIN ISSUES RELATED TO THE EUROPEAN SINGLE MARKET
Second Directive on Internal Electricity Market to be fulfill for all Member States.
Regional Markets and congestion management
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Regional prices in case of congestions
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Implicit auctions and explicit auctions Market coupling
Towards a common standard on market transparency
The problem of insufficient international interconnection between the European electric systems.
2.
Towards a common standard on market transparency.
ERGEG PUBLIC CONSULTATION ON GUIDELINES OF GOOD PRACTICE ON INFORMATION MANAGEMENT AND TRANSPARENCY General requirements
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General principles Minimum level of transparency on Member States Confidentiality requirements Information management Governance Methodology Specific requirements regarding information transparency
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System load – Control area load Transmission and access to interconnections Generation Imbalances Wholesale market information During the development phase of the guidelines ERGEG launched a public consultation over a draft
EuroPEX POSITION REGARDING TRANSPARECNCY ON THE EUROPEAN ELECTRICITY MARKETS
EuroPEX shares information and ERGEG’s vision that a correct management of the an adequate level of transparency improve development of liquid, transparent and competitive electricity markets.
the ERGEG has accepted most of the EuroPEX comments made during the public consultation phase.
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When information is to be disclosed, it should be published, rather than being made available on request.
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The minimum set of information which is made available in a Member State or control area should not depend on the structure of its electricity sector, but should be made available according to the same minimum standards of detail in all Member States.
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The ex-ante information published should be compiled on the basis of objective criteria. The ex-post real values should also be published.
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The information relative to technical standards or constraints should be accompanied by the disclosure and transparency of the methodologies used to define them Effective information “firewalls” on vertically integrated utilities.
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Clear distinction between the roles of the information source and the information publisher.
Similar transparency requirements should be applied to OTC transactions.
The responsibility for disclosing information on electricity trading should rest, in the first instance, with the trading parties.
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The aggregated supply and demand curves, prices and volumes of the spot and intraday markets apply to auction based markets, for intraday continuous trading markets other requirements should apply.
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Prices and volumes information transparency on the OTC markets should be applied at the individual transaction level rather than aggregated for some products.
3.
EuroPEX view.
EuroPEX VIEW
EuroPEX VIEW
EuroPEX VIEW
EuroPEX VIEW
EuroPEX VIEW
4.
Some examples of data published by Power Exchanges.
Net production in EEX
Elspot Trading Capacities in Nord Pool Period 27.10.2006
Financial Market in Nord Pool and Cleared OTC volumes
APX NL Day Ahead Market Supply and demand curves
Daily market in OMEL Supply and demand curves
Daily power by technologies in OMEL
Future Settlement Price in OMIP
Day-Ahead Market in GME 27/10/2006