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IFE-CASC.EU project

IFE-CASC.EU project. Forum with market parties Paris – 18th June 2013. Welcome and Agenda. 9:30 - 10:00 - Welcome of participants 10:15 - Project presentation 10:30 - Presentation of CASC.EU 10: 45 - Proposed evolutions for the yearly and monthly allocations

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IFE-CASC.EU project

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  1. IFE-CASC.EU project Forum withmarket parties Paris – 18th June 2013

  2. Welcome and Agenda • 9:30 - 10:00 - Welcome of participants • 10:15 - Project presentation • 10:30 - Presentation of CASC.EU • 10: 45 - Proposed evolutions for the yearly and monthly allocations • 11:10 - Proposed evolutions for the daily and intraday allocations • 11:30 - Feedback from market parties • 12:30 - 14:00 Lunch

  3. Project presentation • Context and background • Over the last 2 years, RTE, REE and CASC.EU have been working for the integration of IFE LT auctions in CASC.EU platform following ACER recommendations (FWGL-CACM and cross-regional roadmaps presented at Florence Forums) • After the 10th IG meeting of this SWE-ERI, TSOs requested to Regulatory Commissions, and Ministries where relevant, the needed comfort for the project and sent a detailed project description • A MoU between CASC-RTE-REE was signed in 15th April 2013

  4. Main goals of the project • Foreseen scenario : • Transfer of the IFE Yearly and Monthly auctions to CASC-EU, Current situation in IFE PTR Annual auction: REE PTR Monthly auction: RTE PTR Daily auction: RTE PTR ID auction: REE Situation in IFE in 2014 PTR Annual auction: CASC.EU PTR Monthly auction: CASC.EU PTR Daily auction : RTE PTR ID auction: REE • Daily Auction will be replaced by Day Ahead Market Coupling SWE-NWE

  5. Planning • 15th April 2013:MoU signature. • May 2013:Information towards Market Participants (MP), NRAs and other TSOs. • June 2013: • Launch of Public Consultations on LT and ST Auction Rules (3 weeks) • IFE Users’ Forum (18th June)  Comments on the two set of Rules (during the consultation period) • July 2013: Submission of final IFE LT and ST Auction Rules to the NRAs (Spanish Ministry and CRE), for their approval • Foreseen Go live for December 2013 Auction, subject to NRA approval

  6. Evolutions of long-term auctions • Yearly and monthlyauctions on IFE willbe no longer covered by IFE rules all references to long-termauctions have been removed by IFE rules 3.0 • Yearly and monthlyauctions on IFE willbecovered by a new version of the HarmonizedAuctionRules(HAR v2.0) • Public consultation isnow open (until 21st June for HAR 2.0, 25th June for IFE rules 4.0)

  7. HAR - Auction Rules structure • The HAR deals with the Allocation of PTRs • Only one Declaration of Acceptance (DoA) on HAR dealing with the Allocation; no DoA for Nomination • The DoA will be signed by CASC and the Participant • DoA for nomination will be covered in local regulation (Spanish Operational Procedure 3.1 and I/E Rules in France) • The HAR are issued for an unlimited period • Some border specificities

  8. HAR - Participation requirements • Signature of the Declaration of Acceptance (DoA) • Financial Guarantees : Business Account Entitlement

  9. HAR - Participation requirements • Any entity will be entitled forall Yearly and Monthly auctions if it is active on the Electricity Market in at least one control area For Spain: • Certificado del Operador del Sistema-Sujeto del Mercadoissued by REE UIOSI, Transfer and Resale mechanisms can be used by Participants even if they cannot nominate the PTRs bought

  10. HAR - Financial Guarantees • Cash deposit – Business Account (no more bank guarantees for LT PTRs on IFE). • The Credit limit to be awarded of capacity should cover : • Monthly product: full amount • Yearly product: 2/12th of the total amount • Amounts are blocked • Invoicing/self-billing : 5 working days of M+1

  11. HAR – Programming authorisations For France-Spain, an aggregation of Yearly and Monthly Held Capacities Sent at 16:00

  12. HAR - UIOSI UIOSI mechanism is applied on all Country Borders. For France-Spain border : • Marginal price of the specific daily auction • Same as today in IFE rules • Positive day-ahead spot market spread in the affected period in the same direction, in case of cancellation of the daily auction

  13. HAR - Firmness • Held capacities are firm, except for Force Majeure and Safety of the system. Firm after sending PA, except for Force Majeure. For France-Spain, compensation based on day-ahead spread + two caps: • On the day-ahead market spread values • On the monthly total amount of compensations • Exchange Programs are firm, except for Force Majeure Compensation is based on initial price.

  14. HAR - Secondary Market Transfer mechanism for exchanging Yearly/Monthly Capacities between Participants with notification to TSOs Resale of Yearly Capacities in a Monthly Auction

  15. HAR - Secondary Market • Bulletin Board : to exchange proposals for transfer among parties Prototype of the Bulletin board (please not that below examples of the screens might be different in the production environment)

  16. Evolutions of short term auctions • Yearly and monthly auctions will be no longer covered by IFE rules 4.0  all references to long-term auctions have been removed • Public consultation is now open (until 25th June)

  17. Main improvements • New definitions: • AuctionAdministrator, Contestation Period, Intraday Product, OfferedCapacity and Rules for Capacity Allocation by Explicit Auctions • Cancellation of somedefinitions due to: • IFE rules v4.0 perimeter: Monthly Product, Resale Notification, Reseller definitions, Secondary Market Operator, Secondary PTR markets, Transfer Notification and Transferor definitions, PTR Holder and PTR Transfer. • Textimprovements and clarifications: CNE and CRE, Ministerio de Industria, Turismo y Comercio, MinisterialOrder, Beneficiary, Force Majeure and Reduction Coefficient.

  18. Main modifications • To cover the new rule’s perimeter (only daily and intraday timeframes) • Art 1.02, 1.03, 2.03, 2.06, 4.01, 4.04, 6.03, 7.01 and 7.02 • Improvement and clarifications on the text on: • Bank Guarantee nature, amount, modification and invocation (art. 3.02) • Entitlement conditions (art. 3.04) • Suspension and withdrawal of Entitlement process (art. 3.05) • Other general text improvements

  19. Main modifications • Articles no longer needed in IFE rules v4.0 • Article 2.07: As firmness of exchange programs is covered in local contracts / regulation • Section VI on Secondary PTR Market, as is dealt in HAR rules • Articles 7.01 and 7.04 (to cover only daily/intraday timeframes) • Articles updated due to new terms: • Auction Administrator (art. 1.05, 2.02, 3.02, 3.04, 4.02, 6.02, ) • Offered Capacities (art. 2.04) • New article 9.04 on Intellectual property. • Improved description on Payment conditions and Payment Incident (art. 7.02) • Resale and Compensations concepts (art. 7.01) were eliminated

  20. Appendixes updates • Appendix 1: Minor modifications • Appendix 2: Now covers both TSOs. New conditions for Bank Guarantees. New model of letter of invocation of Bank Guarantee. • New Appendix 3 on Downgraded Mode: modifications to cover only daily and intraday timeframes. • Appendix 4: contact details updated. • New Appendix 5: new appendix for listing the functions of Auction Administrator and their splitting between TSOs. • Old Appendices 3, 5, 6, 7 from IFE Rules v3.0 have been deleted

  21. OPEN DISCUSSION

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