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SWE Day-ahead market coupling
16th IG meeting (conference call), 17th June 2014
2
Agenda
Feedback after go-live of full market coupling
Feedback of 17th May incident
1
2
Successful go-live the 13th of May 2014
3
SWE and NWE now operate together : the Multi Regional Coupling (MRC) is in place
Full pre- and post-coupling solutions are applied for the France-Spain interconnection (after the “common synchronized” mode in place since February 2014)
Dec Jan Feb March April May June July August
Operational activities
Testing activities
Regulatory evolutions
High level planning – SWE Full coupling
4
2014
Operators training
Procedures refinement
Integration testing
NWE test for SWE Start up solution Successful testing
Auction rules evolution Final Regulatory approvals (RTE Import/Export
Rules + Spanish Operational procedures)
NWE / SWE tests
Go live
Prep
Today
REE Public consultation
NWE/SWE Task Force
Simulation tests
Member tests
SWE Full Coupling Go live window
Integration testing
Regulatory approval IFE rules
2013
High level Spanish regulation approval
French Public consultation
Signed contracts
CNMC Public consultation
GO LIVE 13th MAY
NWE project
MIBEL
Italy -Slovenia
Czech – Slovak / + Hungary
SWE Project = Portugal, Spain, France
Market coupling projects
NWE + SWE Project = MRC 2500 TWh/year (75% load of ENTSO-E)
5
Price convergence for the first weeks after full coupling
week 1
week 2 week3
Price ES = PT = FR = DE
Price ES = PT = FR <>DE
Price ES = FR <> PT
Price ES = PT <> FR
Price PT <> ES <> FR
Remark: margin of error 0,01 €/MWh
High Price convergence in MRC countries on the 15th May 2014 for 6:00-7:00 hourly product
Price in the MRC region, Thursday 15 May, 6:00–7:00
Price ( €/MWh) Spread Direction
Price > Price FR
Price < Price FR
Use of long term capacity rights (nominations / UIOSI)
Since the go-live of the SWE full market coupling, nominations of long term rights have decreased
-1500
-1000
-500
0
500
1000
1500
MW
Long Term Nominations D-1 nominations / bilateral exchange
Full coupling
Use of long term capacity rights (nominations / UIOSI)
9
Agenda
Feedback after go-live
Feedback of 17th May incident
1
2
Causes and impacts of the 17th May incident
Major IT issue at RTE • Hardware failure (electrical issue) • Malfunctioning of backup solutions Loss of IT tools for the real-time management of interconnections from 8:00 to
14:00
Loss of IT tool used for matching long term programs and capacities (PUMA) • Impacts for managing intra-day programs • Impacts for the finalization of the long term nominations and day-ahead capacities
matching processes Loss of the IT tool for auctioning and market parties nominations (MORGAN)
• Reception of LT nominations • Cancellation of intraday auctions on FR-BE border • Cancellation of explicit daily auction on FR-CH border
Impacts on France-Spanish interconnector from the 17th May incident
• France-Spain day-ahead capacity at zero partial decoupling of the SWE region
• No impacts on the timings and functioning of the Multi Regional Coupling
• The capacity non allocated through market coupling has been allocated through the first intraday auction (current fallback mode of market coupling for FR-ES interconnection)
• Shadow auctions (foreseen for March 2015) would not have allowed the allocation of capacity in D-1(as D-1 capacity was set at zero)
Results of intraday auction after the 17th May incident
Price of the explicit intraday auctions on the 18/05 vs. the d-1 spread
Price of Intraday ES -> FR Price of Intraday FR -> ES D-1 Spread (price ES – price FR)
Utilization of FR-ES capacity on the 18/05
Nominations Intraday Nominations Long Term NTC Net balance