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ACER Long-Term Rights Task Force Current status of the discussion with ENTSO-E. TITRE. Harmonised Auction Rules. The CAO-CASC initiative and ENTSO-E’s proposal .

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ACER Long-Term Rights Task Force

Current status of the discussion with ENTSO-E

TITRE

the cao casc initiative and entso e s proposal

Harmonised Auction Rules

The CAO-CASC initiative and ENTSO-E’s proposal
  • In November 2013, “the [Florence] Forum expects the concerned [CAO-CASC] TSOs to harmonise the auction rules by the end of 2014 under the coordination of ENTSO-E, and to harmonise the necessary IT tools.”
  • Timings in line with NRAs’ expectations but limited scope
  • On 10 January AESAG meeting, ENTSO-E proposed a roadmap to deliver European Harmonised Auction Rules:
    • Principle drafting phase up to June 2014
    • Auction rules drafting from July 2014 up to June 2015
    • NRA approval process from July 2015 for entry into force 1st January 2016
  • ENTSO-E will involve NRAs and market participants all along the process
  • Scope in line with NRAs’ expectations but delayed timings

In line with the discussions on the FCA NC, NRAs agreed that the only viable option is to support the ENTSO-E plan

NRAs will monitor ENTSO-E’ progress to make sure the harmonised auction rules are delivered on time.

principle drafting phase

Harmonised Auction Rules

Principle drafting phase
  • ENTSO-E shared its first input focused on accession principles and asked for guidance on two elements:

the requirement of being a Balancing Responsible Party

NRAs share the view that ENTSO-E should investigate how to remove the necessity of being BRP for participating to long-term capacity auction

the harmonisation of TSOs designation

NRAs support ENTSO-E’s proposal to conduct a cost-benefit analysis to identify the best way forward regarding the harmonisation of the TSO designation process.

multi yearly hedging products

Other topics related to forward

Multi-yearly hedging products
  • ENTSO-E prepared a note on this topic.

NRAs agree with ENTSO-E on the list of elements to look at when issuing multi-yearly hedging products but there are diverging views on ENTSO-E’s assessment of these elements.

TSO capacity buy-back schemes

  • ENTSO-E also prepared a note on this topic.

Most NRAs were skeptical about the potential benefits of introducing such schemes. NRAs have requested further information to Eurelectric/EFET which are in favor of such schemes.