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ERGEG Regional Initiative Region South-South East 4th Stakeholder Group meeting Italian Balancing Point TF How to create regional markets for balancing in practice Athens 10 June 2008. How to create regional markets for balancing in practice. - PowerPoint PPT Presentation
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ERGEG Regional Initiative Region South-South East
4th Stakeholder Group meeting
Italian Balancing Point TF
How to create regional markets for balancing in practice
Athens 10 June 2008
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The development of hub as Balancing points has been identified by ERGEG as one of the “KEY objective” of the SSE Regional Initiative
The IBP TF recognized that implementation of a balancing market would positively impact the functioning of the overall gas market
The balancing market mechanism contributes to improve the liquidity of the hub and the trading of gas
How to create regional markets for balancing in practice
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Create regional markets for balancing in practice
The TF point of view
In principle the balancing point should have a regional extention
In practice however the SSE regional market lacks: - an harmonized business environment - a well meshed gas grid- adequate available interconnection capacities
Two/three balancing points in the SSE region is a more realistic objective
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Create regional markets for balancing in practice
The TF point of view
As a first step develop two/three hubs in the region acting as balancing points for their reference area.
In the longer term the local balancing
points could evolve to a regional dimension.
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Focus on the Italian Balancing PointThe IBP Activity
Workshop with the Italian Association of Energy Traders (Aiget) November 2007
Meeting with the Regulatory Authority - December 2007
- March 2008
Meeting with the Italian Transmission Operator (SRG) - January 2008
Meetings with the main Network Users
A balancing point for the Italian gas marketIBP TF Preferred features
Daily balancing mechanism: higher guarantee for operators with small portfolio; easier to manage
Independent Market Operator Anonymous exchanges Clearing price published ex-post Tolerance level: fixed or decreasing with the amount of
demand Ex-post trading: as long as the market is not well-functioning
and liquid Back-up back-down services provided by the market
Italian Balancing Point
Scambi su piattaforme
relativi a Giorno G
Scambi su piattaforme
relativi a Giorno G
Scambi su piattaforme
relativi a Giorno G
Giorno Gas G – 1
h. 12registrazione accordi PSVx Giorno G
h. 13comunicazione progr
trasporto e stock Giorno G
Giorno Gas G Settlement (15 m+1)
Prezzo Medio IBP
Pay as Bid
h. 18
Pubblicazione Scambi + Esiti IBP-intraday Market
h. 12
Posizione Shipper
DeterminazioneCorrispettivi
Sbilanciamento
Bilancio CommercialeDefinitivo
Fatturazionesbilanciamenti
Bilancio CommercialeProvvisorio
Recupero costi TSO
• Ex post Trading
•Tolerance Level
•…
fino alle h. 18offerte Acquisto/Vendita
su IBP-intraday MKT
AltraWeb, SAMPEI, Polaris…
NDM (°)
Non Daily Metered
DM
Daily Metered
Bilanciamento a Stoccaggio (*)/IBP
Nuove posizioni Shipper su IBP
ACQ/VEN
INTRADAY MARKET
• Consentiti scambi tra operatori
• …
Note
(°) Eventualmente aggregati per profilo di prelievo [da verificare a quale livello territoriale aggregabili: nazionale, area di prelievo, cabina…]
(*) In alternativa è possibile prevedere l’applicazione di corrispettivi di sbilanciamento differenziati, meno “severi” per gli NDM
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April 2008 First Consultation Document on “Potential Evolution of the Balancing Service in the Natural Gas Market” (DCO 10/08)
Main topics proposed for discussion: - Length of the Relevant Period - Balancing responsibility- Balancing Market Operation- Imbalance Charges
Next steps: Consultation Document on a Gas Exchange Second Consultation Document on the Gas Balancing
Market
Focus on the Italian Balancing PointConcret Developments
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Consultation Document on the Italian Balancing Market
Topics under discussion
Recommendation: “It is important that network users are not exposed to undue risks that they cannot manage effectively and/or without incurring inefficient costs that could create barriers to entry to the market” (GGPGB 1.9)
Length of the Relevant Period
Choice of daily or hourly period taking into account: Availability of info or of hedging possibilities on
shippers imbalance position over the relevant period Possibility for gradual implementation of hourly
balancing limited to main inputs and offtakes Harmonisation at international level needed
The Cons Doc suggests the need for a C-B analysis
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Consultation Document on the Italian Balancing Market
Topics under discussion
Balancing Responsibility
Snam Rete Gas responsible for dispatching and residual gas balancing – buys gas from market
Centralised platform for gas balancing offers Independent Balancing Market Operator (open)
Imbalance charges
Cost ReflectivePromote shippers efficent behaviour
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Consultation Document on the Italian Balancing Market
Topics under discussion
Recommendation: “In the absence of a well functioning/liquid within day market, allowing market participants to manage their imbalance positions efficiently, the TSO should have or should allow systems to be put in place to facilitate the pooling and trading of imbalance positions.” (GGPGB 1.18)
Operation of the Balancing Market
Shipper offer “balancing gas” (day a-head)Criteria for selection of offersPrice for selected offers
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How to create regional markets for balancing in practice
Create two-three active balancing points in the south-south east region
Given the present actual possibilities for short term gas trading, the points should be based on compatible balancing regimes (fully harmonised in perspective)
Attention should be paid that regimes evolves with increasing short term trading possibilities
The proposal for the Italian Balancing Market is in line with the above requirements
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