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28 th IG Meeting South Gas Regional Initiative. 29 th April 2014 Teleconference . Agenda. II. Early implementation of the CAM NC. II.1. Supervision of the yearly capacity auction in March 2014 (for information by NRAs). II. Early implementation of the CAM NC.

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29 th april 2014 teleconference

28thIG Meeting South Gas Regional Initiative

29th April 2014

Teleconference

slide3

II. Early implementation of the CAM NC

  • II.1. Supervision of the yearly capacity auction in March 2014
  • (for information by NRAs)
slide4

II. Early implementation of the CAM NC

  • II.1. Supervision of the yearly capacity auction in March 2014
  • CAM NC establishes that NRAs should ensure that CAMs are implemented at the IPs in the most effective way
  • SPAIN
  • Following the Circular 1/2014 de la CNMC, the Spanish regulator is going to supervise the application of CAM in last 3rd March auction.
  • For this purpose, CNMC has requested information to ENAGÁS. The deadline to receive the information on the process is 28 April.
slide5

II. Early implementation of the CAM NC

  • II.2. Quarterly capacity auction on 3rd of June 2014. Preparation
  • Process of information to stakeholders. Publication of capacity to be offered in the auction
    • (for information by TSOs)
slide6

II. Early implementation of the CAM NC

  • II.3. Information about other capacity allocations calendar in the region and beyond
slide7

III. Iberian Gas Hub

  • III. Update. Study on models for integration of the Spanish and Portuguese gas markets
  • (for information by NRAs)
slide8

MIBGAS

Models for the integration of the Spanish and Portuguese gas markets in a common Iberian Natural Gas HUB

slide9

General Objective

  • In order to assess the feasibility for the development of a gas hub, the study analyzes different aspects of the current gas market situation in Spain and Portugal, including prices in the gas market, as the most important factors.
  • The study covers three different models for Iberian gas market integration, comparing the advantages and disadvantages for each model.
      • Market Area Model.
      • Trading Region Model.
      • Wholesale Market with Implicit Capacity Allocation.
1 the market area model full integration

VP

VP

1 The Market Area Model (full integration)
  • Features
  • The adjacent transmission and distribution networks situated in the same geographical area (and well interconnected) are forged into a single entry/exit system.
  • The market area includes all gas transmission and distribution systems of participating countries (one single market area).
  • The market area enables a single wholesale market with a single virtual point.
  • The market region has a single balancing system (with a single balancing entity and balancing rules).

Country A

Market Area A

National market area

Final customers (A)

Country A

Country B

Market Area AB

Cross-border market area

Final customers (A)

Final customers (B)

2 the trading region model full integration except balancing

VP

2 The Trading Region Model (full integration, except balancing)
  • Features:
  • The adjacent transmission and distribution networks that are situated in the same geographical area and that are well interconnected are forged into a single entry/exit system with a single virtual point.
  • The Trading Region has two end-user balancing zones. The balancing in each end user zone is performed according to the respective national rules (unbalances are managed by the National balancing entities).

Country A

Country B

Trading Region AB

End userzone A

End userzone B

Final customers (A)

Final customers (B)

3 wholesale market with implicit allocation of capacity
3. Wholesale market with implicit allocation of capacity

Interconnection capacity is being reserved for implicit allocation

  • Features:
  • A certain amount of the interconnection capacity is reserved for implicit allocation.
  • In this model, gas trade and allocation capacity are assigned simultaneously via a gas exchange (or a gas trading platform).
  • TheimplicitallocationmaypromotemarketliquidityontheIberian gas market and can represent a firststepformarketintegration. Theintroduction of thismodelwouldgive a new approachtothedevelopment of a wholesale gas market, providingpricetransparency as well as benefitstotheretailmarket, being a preliminarystepforfurtherintegrationthroughthe trading regionmodelorthe gas marketareamodel. 

Market participants make “bids” and “offers” for buying or selling of gas

The implicit mechanism matches those bids and offer with the highest price differences

Capacity is automatically assigned once a trade is made until cross-border capacity is sold out or prices have converged

preliminary evaluation of the models

The implicit allocation may promote market liquidity on the Iberian gas market and can represent a first step for market integration. The introduction of this model would give a new approach to the development of a wholesale gas market, providing price transparency as well as benefits to the retail market, being a preliminary step for further integration through the trading region model or the gas market area model[CNMC1].[ERSE2]

The implicit allocation may promote market liquidity on the Iberian gas market and can represent a first step for market integration. The introduction of this model would give a new approach to the development of a wholesale gas market, providing price transparency as well as benefits to the retail market, being a preliminary step for further integration through the trading region model or the gas market area model[CNMC1].[ERSE2]

[CNMC1]We agree with the new wording

[ERSE2]

Because this is a consultation document it seems to us that we should not be so affirmative. And give more space to the comments of the agents.

Furthermore, the gas hub is not an objective for itself.

[CNMC1]We agree with the new wording

[ERSE2]

Because this is a consultation document it seems to us that we should not be so affirmative. And give more space to the comments of the agents.

Furthermore, the gas hub is not an objective for itself.

Preliminary evaluation of the models
iberian gas hub work in progress
IBERIAN GAS HUB Work in progress
  • Document analyzing the advantages and drawbacks of the possible models, the regulatory harmonization requisites for its implementation by CNMC – ERSE (2014 April) .
  • Public hearing (2014 May)
  • Analysis of stakeholders responses to the public hearing (2014-Q3)
  • Final document to be approved by CNMC- ERSE (2014-Q3)
slide15

IV. Balancing and interoperability

  • IV. Calendar and detailed tasks for the harmonisation: gas day, nomination and renomination procedures, data exchange and reference temperature – priorities for 1st Nov 2015
  • (for discussion)
slide17

VI. AOB and next meetings - 2014

  • Nextmeetings:
  • SG meetingon22 Mayiscancelled
  • RCC meeting: date tobedetermined