Transcript SEMO - SEM One year on

SEM – One Year On
Liam Ryan, Market Operations Manager
Agenda
Overview of Market
Registration
SEM Prices
Summary
Participants in the SEM
 46 Participants have registered in SEM (8 since November 07)
 32 Participants have registered Generator Units ( 7 since November 07)
 10 Participants have registered Interconnector Units
 Registered Capacity in the Market: 9856 MW
Market Schedule and Price
Generation
Bids into the
Pool
Suppliers &
Demand
(MW)
6
5
4
3
2
1
D
Market Schedule
Quantity (MSQ)
SEM Market Timelines
Ex-Ante Dispatch &
Indicative Operations
Scheduling
MSP
Registration
Submission of Offers
TD-29
TD-20
(TSOs)
(DQs)
(Indicative
MSQs & SMP)
10:00
12:00
TD-1
TD-1
Gate Closure
TD=0
Trading Day
MIUN Established
6
Ex-Post
Indicative
MSP
Ex-Post
Initial
MSP
(MSQs
& SMP)
(MSQs
& SMP)
16:00
TD+1
17:00
TD+4
Settlements
(TD+1WD)
Time
SEM Market Systems
Participants
System
Operators
Market Interface
Interconnector
Physical Market
Administrators
Market Settlement
Meter Data
Providers
Banks
Settlement - Interconnector

Nature of IC means special rules in T&SC for settlement of
Interconnector Units

Dispatch Quantities
Interconnector Unit: DQ = MIUN
IRCU: DQ = SO Trade Import + Export Quantities
IC Error Unit: DQ = 0

Metered Generation
For each Interconnector Unit based on DQ (=MIUN)
Interconnector Error Unit: IC Metered Generation – Sum IC Unit Metered Generations

Settlement
Interconnector Units & IC Error Unit charges/payments for Energy and Capacity
Interconnector Error Unit: Imbalance charges/payments
IRCU Constraint charges/payments
Registration Overview
 The registration processes consist of two major steps:
Step 1: Party registration
for accession to the market
register as a Party to the Trading and Settlement Code
Party
Step 2: Unit registration
to participate in the market
a Party becomes a Participant by registering Unit(s)
 Up to 60 working days receipt of accepted complete application
 Concurrent Party and Unit application is possible
Unit
Interconnector Registration
 Interconnector Owner (IO)
Party
Registers Interconnector
Specify IA, IRCU and IEU (IO could be IA as well)
Unit
 Interconnector Administrator (IA)
 System Operator (SO)
Register Interconnector Residual Capacity Unit (IRCU) (as a Unit)
Important !! 2.78
Before import or export must have registered:
 Interconnector Users (IU)
Interconnector
Interconnector Administrator
Interconnector Error Unit
Unit Registration
 Registration of Interconnector units involves:

Participation Notice
Unit Details 2.33
Evidence of: connection agreements, UOS agreements, Licence to
generate/supply, nominated IA etc 2.71

Communication Channel Qualification Testing

Providing Credit Cover
 Commencement Notice issued when effective date agree with all parties.

From that date onwards the unit registered can trade in the market.
Financial Review – 11 months
-Total Billed €3.3bn
82% energy,
14% capacity,
2% imperfections
-Market fully Collaterised
Average SMP Price
System Marginal Price
Daily Average
Monthly Average
NDP - Day Ahead Gas price
160
140
120
MWh
100
80
60
40
20
0
Nov07
Dec07
Jan-0
8
Feb-
08
Mar-
08
Apr-0
8
M a y08
Jun-0
8
Jul-0
8
Aug08
Sep08
Capacity Payment
€70
€60
€50
€40
Capacity Payment
€30
€20
€10
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
€0
Jan
Euro
Millions
Capacity Payment
Summary
Registration process - up to 60 working days
10 Participants have registered Interconnector Units
Nature of IC means special rules in T&SC for settlement of
IC Units
Total Billed €3.3bn (82% energy, 14% capacity, 2%
imperfections)
Daily Average SMP Varies between €47.3 - €147.5
Monthly Average SMP Varies between € 61.2 to € 96.3