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25 th IG meeting 13 th December 2013

Enagás , REN and TIGF Issues to be discussed. 25 th IG meeting 13 th December 2013. Index. Specific calendar of auctions. Definition of large and small price steps for each type of product. Transfer of existing contracts to the VIP Capacity to be offered Financial guarantees.

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25 th IG meeting 13 th December 2013

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  1. Enagás, REN and TIGF Issues to be discussed 25th IG meeting 13th December 2013

  2. Index Specific calendar of auctions. Definition of large and small price steps for each type of product. Transfer of existing contracts to the VIP Capacity to be offered Financial guarantees. Contracts: standard and annexes/standard after the auction. Secondary market: when and where trades will take place, public information. Stakeholders information EIC and transfer to affiliates

  3. 1. Auction calendar • Since the binding application of the CAM NC, the auction calendar will be determined by ENTSOG • Until that date, TSOs will follow PRISMA’s auction calendar

  4. 2. Definition of price steps • Large price steps: • Rules in other IPs in Europe according to NRAs: • Yearly auctions: large price step = 10 ct/kWh/h/Runtime, small price step = 2 ct/kWh/h/Runtime • Quarterly auctions: large price step = 2.5 ct/kWh/h/Runtime, small price step = 0.5 ct/kWh/h/Runtime • Monthly auctions: large price step = 1 ct/kWh/h/Runtime, small price step = 0.2 ct/kWh/h/Runtime • To be discussed … • Small prices steps: • PRISMA booking platform sets, as a default rule, that small price steps are 20% of the large price steps. In principle, TSOs will follow this default rule for all products (yearly, quarterly and monthly)

  5. 3. Transfer of existing contracts to the VIP • At the Spanish-French border, Enagás and TIGF agree to transfer existing contracts at physical IPs to VIP. This will imply that as from October 2014 for commercial and operational purposes the physical IPs will no longer exits. This will not imply that existing contracts have to be bundled. • At the Spanish-Portuguese border, Enagáswill also transfer existing contracts at physical IPs to VIPwithout bundling existing contracts. • REN will only transfer contracts from physical IPs to the VIP as from October 2014 as long as all unbundled capacity at the IPs is contracted by the same shipper on both sides.

  6. 4. Capacity to be offered PENDING ON SEVERAL DECISSIONS DESCRIBED IN THE NEXT SLIDES

  7. 4. Firm and interruptible capacity

  8. 4. Bundled and unbundled products • At the Spanish-French border, Enagás and TIGF willofferedalltheavailablecapacity (bundled and unbundled) at the VIP. • At the Spanish-Portuguese border, Enagásand REN willofferealltheavailablecapacity (bundled and unbundled) at theVIP, whereby REN considersthatthefollowingconditionsshould be met: • fortheexistingunbundledcapacity at bothIPs, comercial mismatchingmust be eliminatedbycontractingthesamecapacity at bothsides of theborderbythesameshipper; • ifavailable, unbundledcapacity at the VIP shallbe onlydue to mismatchof technicalcapacityas offeredbybothTSOs.

  9. 4. Capacity between Spain and France (2014) SPAIN  FRANCE (bundled capacity) FRANCE  SPAIN (bundled capacity) Note that the figures are provided at 0ºC

  10. 4. Capacity between Spain and France (2014) SPAIN  FRANCE (unbundled capacity) FRANCE  SPAIN (unbundled capacity) Note that the figures are provided at 0ºC

  11. 4. Enagas-REN Technical capacities Badajoz/Campo Maior: Spain  Portugal Actual capacities (*) When the delivery pressure at the border is 80 bar the maximum physical capacity is 128 GWh Capacities are calculated at 25ºC

  12. 4. Enagas-REN Technical capacities Badajoz/Campo Maior: Portugal  Spain Actual capacities Capacities are calculated at 25ºC

  13. 4. Enagas-REN Technical capacities Valença do Minho/Tuy: Spain  Portugal Actual capacities Capacities are calculated at 25ºC

  14. 4. Enagas-REN Technical capacities Valença do Minho/Tuy: Portugal  Spain Actual capacities Capacities are calculated at 25ºC

  15. 5. Financial guarantees • Each TSO willestablishits own financial guarantees. There is no need for alignment or decision as regards this point. • Neither Enagás nor TIGF, nor REN will use PRISMA functionality for managing financial guarantees. • On the Spanish side and on the French side as well on Portuguese side, there will not be any need to establish additional financial guarantees for participating in the auctions. • Each TSO will require the financial guarantees establish in their national regulation.

  16. 6. Standard contracts (I) • TSOs fully agrees that an standard capacity contracts should be signed with each TSO. • ENAGAS • The Standard Contract with Enagas will have to be singed in advance, as a prerequisite to participate in auctions. The Standard Contract will only be signed once during the registration process. This contract will be valid to both concluding bookings and to participate in auctions with Enagás at PRISMA booking platform. • Capacity allocated to a Shipper at PRISMA booking platform will be automatically introduce at the SL-ATR, thus this allocation will be binding for shippers and it will not be necessary to sign any additional document. • Once the shipper has been informed of the allocation of capacities, it will be informed of the financial guarantees associated to the contracted capacity he has to put in place in favour of Enagás. These financial guarantees are detailed in Royal Decree 949/2001.

  17. 6. Standard contracts (II) • REN • In order to be able to participate in auctions Shippers must be registered as licensed shippers in the Portuguese system. The requirements and procedure to get the license are detailed by the DGEG at http://www.dgeg.pt/ • Shippers have to have signed the Transport Contract with REN Gasodutos in order to participate in the auctions. • Capacity allocated to a Shipper at PRISMA booking platform will be automatically introduced in REN’s Third Party Access Platform (ATR), thus this allocation will be binding for shippers and it will not be necessary to sign any additional document. • Once the shipper has been informed of the allocation of capacities, it will also be informed of the financial guarantees associated to the contracted capacity he has to put in place in favor of REN. These financial guarantees are detailed in Contrato de Uso da RedeNacional de Transporte de Gás Natural, wichgeneralterms & conditions are available athttps://www.ign.ren.pt/ • No specific financial guarantees to participate in the auctions will be required.

  18. 6. Standard contracts (III) • TIGF • In order to be able to participate in auctions Shippers must be registered as licensed Shippers in the French system. The requirements and procedure to get the license are detailed by the DGEC at the following link: http://www.developpement-durable.gouv.fr/Liste-des-fournisseurs-autorises.html • Then, Shippers will have to sign the Transport Contract with TIGF in advance in order to participate to the auctions. • Capacity allocated to a Shipper at PRISMA booking platform will be automatically introduced in the Transport Contract (Bordereau de Capacités), thus this allocation will be binding for shippers and it will not be necessary to sign any additional document. • Once the shipper has been informed of the allocation of capacities, it will be informed of the financial guarantees associated to the contracted capacity he has to put in place in favor of TIGF. These financial guarantees are detailed in Article 8 Guarantee of Transport Contract General Termsavailable on TIGF web site. • No financial guarantees to participate in the auctions will be required.

  19. 7. Secondary market • For the year 2014, TSOs will put in place a coordinated procedure to allow shippers to trade their bundled capacity in the secondary market. • Once there is a secondary booking platform, TSOs will have the opportunity to use this functionality. • During 2014, Enagas and REN are working on a Pilot project with PRISMA, which doesn’t include a secondary market facility.

  20. 8. Stakeholders information • Proposed calendar • January: publication of the relevant documentation by TSOs for shippers • February: publication of the relevant regulation by NRAs • Documentation • Description of capacity products • Capacities offered • Auction process • Link to PRISMA on TSO’s websites • Creation of the VIP • 2014 calendar for yearly, quarterly, monthly auctions

  21. 9. EIC code & transfer to affiliates • Situation: the company that has been allocated capacity at PRISMA should be the same as the one signing the contracts with the TSOs. Thus, there is no possibility to transfer the capacity to an affiliate at IPs; instead, gas transactions will take place within each system (PEG, AOC, VTP) • Enagás agrees with this provision. • TIGF, at this point of progress, would agree with this provision. • REN has no objection to this provision, as it is imposed by NRAs

  22. Thank you for your attention!

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