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EnBW Trading GmbH, Germany CDM / JI Project Partnership www.enbw.com. - Who is EnBW? - Some Topics on the European ETS - EnBW‘s Role in CDM Projects - Approach to Pricing - EnBW‘s Interest & Strength - EnBW‘s Expectations. EnBW at a glance. EnBW AG – Companies & Value Added Chain.

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Presentation Transcript
slide2

- Who is EnBW?- Some Topics on the European ETS- EnBW‘s Role in CDM Projects- Approach to Pricing- EnBW‘s Interest & Strength- EnBW‘s Expectations

slide4

EnBW AG – Companies & Value Added Chain

EnBW AG / Holding

Generation

Distribution

Sales

Trading /

Purchasing

EnBW Kraftwerke AG

EnBW Kernkraft GmbH

EnBW Trading GmbH

EnBW Transportnetze AG

EnBW Regional AG

EnBW Vertriebs- und Servicegesellschaft mbH

Yello Strom GmbH

Electricity

EnBW Trading GmbH

Gasversorgung Süddeutschland GmbH

EnBW Gas GmbH

Gasversorgung Süddeutschland GmBH

EnBW Vertriebs- und Servicegesellschaft

Gasversorgung Süddeutschland GmbH

EnBW Gas GmbH

Gas

Companies with interdepartmental functions

Energy &

Environmental

Services

national burden sharing within eu for the period 2008 to 2012
National Burden Sharing within EU for the Period 2008 to 2012

8% goal of EU 15 will be achieved through national burden sharing=> reduction goal of EU 15 Länder is the result of negotiations within the EU => reduction goal of joining countries is their Kyoto commitment

european union emission trading scheme eu ets nap 2 2008 to 2012
European Union Emission Trading Scheme (EU ETS), NAP 2 – 2008 to 2012

estimated annual CO2-Emissions 100%

Gap

Emission Unit Allowances (EUAs) assigned in National Allocation Plan 2 (NAP 2)

Gap compensable by CERs amounting to 22% of assigned EUAs:

enbw trading s role in cdm projects
EnBW Trading’s Role in CDM Projects

EB

DNA

DOE

Contact

Project-Developer

Project-Owner

Project Management

Technology-Supplier

CDM-Project

Technology / Know How

Capital

Financing

CERs

Bank

CER – Buyer

Investor

slide9

Primary-Market

Value Added Chain of the CDM/JI-Process

Financing

Trading with

Secondary-CERs

(EnBW Trading)

ERPA,

Portfolio-Balance

(EnBW Trading)

( Fonds )

(EnBW Trading)

Project-Development

Technology / Engineering

Risk

CER-Price

participation of enbw trading gmbh in cdm projects project risks
Participation of EnBW Trading GmbH in CDM Projects – Project Risks
  • CDM – Risks:
    • post-Kyoto uncertainty
    • price risk
    • volume of delivery
      • market risk
        • country
        • technology
        • project specific risk
          • non-specific CDM-risks
          • approval of DNA
          • approval of methodology / technology
          • validation risk
          • registration risk
          • monitoring risk
          • verification risk
participation of enbw trading gmbh in cdm projects country selection
Participation of EnBW Trading GmbH in CDM Projects – Country Selection

Criteria for Host-Country-Check:

  • World Bank Criteria
    • voice & accountability
    • political stability & absence of violence
    • government effectiveness
    • regulatory quality
    • rule of law
    • control of corruption
  • foreign investments
  • legal system
  • conflicts in law of nations
  • travel-warnings (by Department for Foreign Affairs)
the cdm project cycle
The CDM Project Cycle

price category 1:

project is still at concept or has developed a PIN

sign ERPA early in the

project cycle

price category 2:

PDD is developed and submitted to a DOE for Validation

decreasing

risk in advanced state of project cycle

price category 3:

project has received a LoA from the DNA and is registered by the EB

price category 4:

project has issued its first CERs

Source: German CDM Manual – Guidance for Applicants, Umwelt Bundes Amt DEHSt

eua secondary cer price
EUA & Secondary CER Price

EUA / CER price history since May 07

participation of enbw trading gmbh in cdm projects
Participation of EnBW Trading GmbH in CDM Projects
  • EnBW’s interests:
    • Partnership with a project owner in developing a project
    • Sign emission reduction purchase agreement (ERPA) with a project owner of the host country
    • Long term commitment to a CDM project early in the project cycle
    • Focus on projects related to EnBW core-activities
    • project size: approx. 20,000 < x < 150,000 CERs/year
    • small scale projects are also of interest
participation of enbw trading gmbh in cdm projects project types
Participation of EnBW Trading GmbH in CDM Projects – Project Types
  • Focus on energy efficiency, fuel switch, cogeneration, renewable power generation
  • Other sectoral scopes / methods accepted that are supported by external assessment
  • Sustainability according to the current requirements of the UNFCCC and Linking Directive of the EU
  • Project types of interest:
    • Biogas
    • Biomass energy
    • Cement
    • Coal Bed/Mine Methane
    • Energy distribution
    • Energy efficiency
    • Cogeneration
    • Fossil Fuel Switch
    • Hydro Power
    • Solar Power
    • Wind Power
participation of enbw trading gmbh in cdm projects16
Participation of EnBW Trading GmbH in CDM Projects
  • EnBW’s strength as CER buyer:
    • Compliance buyer as power plant operator under the EU Emissions Trading Scheme (EU ETS)
    • Strong credit rating
    • Highly reliable partner
    • Possibility to arrange flexible pricing models
    • Professional trading partner in commodities
    • In-depth technical expertise in electricity and heat generation – technology and knowledge transfer
    • Technical & financial support in CDM project development
participation of enbw trading gmbh in cdm projects17
Participation of EnBW Trading GmbH in CDM Projects
  • EnBW’s expectations on a seller of CER’s:
    • Reliable business partner
    • Technology of the CDM project is acceptable
    • Project activity has been planned and documented under CDM (additionality)
    • EnBW intends to be:
      • named as buyer of CER’s in the PDD
      • named and registered as focal point in “Modalities of Communication” at UN
      • has the right to initiate monitoring at any time
      • wants to be closely involved in the monitoring process
thank you

Thank You!

Contact:Hans-Jürgen Mielisch, “Hans”++49 172 7333127h.mielisch@enbw.com