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Snamretegas.it DAY-AHEAD CAPACITY ALLOCATION San Donato Milanese, 5 th - 6 th March 2013.

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Presentation on theme: "Snamretegas.it DAY-AHEAD CAPACITY ALLOCATION San Donato Milanese, 5 th - 6 th March 2013."— Presentation transcript:

1 snamretegas.it DAY-AHEAD CAPACITY ALLOCATION San Donato Milanese, 5 th - 6 th March 2013

2 2 III COMMERCIAL ASPECTS AND SRG APPLICATIONS I INTRODUCTION II NETWORK CODE

3 First capacity booking Starting feasibility study of Capacity Portal Starting implementatio n phase of Capacity Portal GO LIVE First booking process and transactions Introduction of Balancing Service monitoring Starting day- ahead auction 3 Evolution of communication methods CAPACITY PORTALPAPER MANAGEMENT Jul 2009 Jul 2001Sep 2008 Dic 2011 Apr 2013Jun 2006 I Introduction – Evolution of the Transportation Service

4 4 III COMMERCIAL ASPECTS AND SRG APPLICATIONS I INTRODUCTION II NETWORK CODE

5 Regulatory framework Resolution 536/2012/R/gas of Autorità per lenergia elettrica e il gas Day-ahead daily capacity at Tarvisio Entry/Exit Point available from 1st April SRG Opened access to SRG Network Users: fulfilling with contractual Network Code obligations provided with appropriate guarantees certificate proving ownership of import contract(s) not required by the TSO Regulated tariff (Monthly capacity charge) on a daily basis SRG Network Code update proposal AEEG-E-Control Guideline on a day-ahead allocation mechanism at the Austrian/Italian border 5

6 Regulatory framework AEEG- E-Control Guideline Day-ahead daily transportation capacity allocation criteria (primary market): Daily capacity product for TSOs coordinated allocation (Bundled Daily Capacity) at the IP AT-IT border Interruptible capacity offered only if firm capacity is not available or sold out day-ahead Bundled capacity determined as the minimum available capacity between TSOs Systs The TSOs join a common booking platform for the capacity allocation Allocation held through auction mechanism according to CAM provisions Revenues splitted between the TSOs according to agreements approved by NRAs Contracts subscription with each TSO 6

7 Capacity allocation process Renomination of daily programmes SRG Network Code, Chapter 5, par. 5.4 Day-ahead daily capacity allocation at interconnections with foreign transmission Systems SNAM RETE GAS Network Code

8 Capacity allocation (1) 8 CHAPTER 5 Allocation criteria Daily Firm capacity allocation Interruptible Daily Capacity allocation where Daily Firm Capacity not available /sold out Specific access requirements to transportation service Ability to operate on PRISMA Platform Capacity allocation criteria according to CAM auction mechanism using a uniform price algorithm Reserve Price (regulated tariff on a daily basis) Bids selected according to the economic value up to the capacity offered by SRG; final price = price of the lowest successful bid auction premium (unitary charge of the last accepted bid) Clearing Price = Reserve Price + Auction premium

9 9 CHAPTER 5 Scope of Daily capacity allocation Natural gas transportation capacity on SRG Network for a Gas-Day at ALL Entry/Exit Points interconnected with foreign import/export pipelines Firm daily transportation capacity and interruptible daily transportation capacity if firm capacity is not available or sold out day-ahead Capacity in Sm 3 /day Daily capacity definition (each gas day D-1) Entry/Exit Points with foreign import/export pipelines 1.Firm Daily Capacity = not allocated capacity for Gas day D 2.Interruptible Daily Capacity = not nominated booked capacity for Gas day D Tarvisio Entry/Exit point 1.Firm Daily Capacity = bundled Firm Daily Capacity + unbundled Firm Daily Capacity 2.Interruptible Daily Capacity = bundled Interruptible Daily Capacity + unbundled Interruptible Daily Capacity Capacity allocation (2)

10 B U N D L E D TAG Available firm capacity for Gas day D Firm Daily Capacity offered by SRG Daily capacity determination at Tarvisio: example * SRG Available firm capacity for Gas day D N.B. Example scheme for the sole purpose of showing the determination of unbundled capacity (surplus available at Italian or Austrian side, depending each day on the available capacity in each System) U N B U N D L E D Firm Daily Capacity offered by SRG 10 CHAPTER 5 Capacity allocation (3)

11 Participation Requirements Transportation Contract with SRG Ability to operate on PRISMA Platform Adequate transportation service guarantee (Limite di Conferimento) Network Code obligations condition EPSu K < MEPSu K settlement of the payments Transportation Contract with TAG (for bundled capacity request, only) Allocation rules for the relevant IP countersigned by the concerned network users Request Binding request Maximum 10 bids per auction 1.capacity to be offered 2.minimum acceptable capacity 3.price (additional value as compared to the Reserve Price) Σ bids not exceeding the Limite di Conferimento 11 CHAPTER 5 Capacity allocation process (1)

12 Allocation result Auction result Allocation result 12 CHAPTER 5 notification to each participating party allocated capacity, and related price at the conclusion of the auction process publication of final aggregated allocation results Capacity allocation process (2) Capacity allocation through auction process One or more auction according to capacity on offer requests Bundled capacity confirmation subject to verification with the interconnected TSO N.B. Without prejudice to the Guidelines, the allocation will be not validated in case the Network User does not subscribe the capacity contract with the interconnected TSO

13 Capacity allocation process Renomination of daily programmes SRG Network Code, Chapter 8, par. 6.7 Renomination of daily programmes SNAM RETE GAS Network Code

14 Nomination and Renomination of daily programmes in the Gas-day D-1 14 CHAPTER 8 Confirmation of renomination 21:30 Report Provisional Allocation Data day D-1 11:30 PSV registrations deadline Nomination deadline Confirmation of nomination Renomination deadline 12:00 13:0019:00 D-1 t By 21:30 of the Gas day D-1 SRG verifies the transportation programme as riformulated and notifies to the Network User the confirmed programme By 19:00 of the Gas day D-1, the Network User can reformulate its transportation programme for the Gas day D for all SRG transmission network points N.B. The allocation of bundled capacity by SRG does not automatically imply a capacity allocation for the interconnected systems and vice versa. Publication of TSO information 14:00/ 16.00 Publication of TSO information

15 Renomination of daily programme for Entry/Exit Storage and Redelivery Points 14:0017:00 G t By 17:00 of Gas day D, the Network User can reformulate its transportation programme for the Gas day D for Entry/Exit Storage Points and Redelivery Points Update of TSO information 16:00 Update of TSO Information 19:00 PSV registrations deadline 16:30 Deadline for presentation of offers at the PB-Gas 20:00 15 Renomination of daily programmes in the Gas-day D CHAPTER 8

16 SRG network code -Updating proposal n. 18 http://www.snamretegas.it/en/services/Network_Code/Aree/Area_Aggiornamento.html Thank you for your attention

17 Agenda 17 III SRG - COMMERCIAL ASPECTS AND SRG APPLICATIONS I INTRODUZIONE II CODICE DI RETE

18 Booking process requirements Day-ahead daily capacity auctions timing Day-ahead capacity on offer Day-ahead capacity request Allocation Criteria Eventual capacity interruption Allocation results on the Capacity Portal Agenda 18 III SRG - COMMERCIAL ASPECTS AND SRG APPLICATIONS

19 Booking process requirements (1/3) Requirements for participating at day-ahead booking process Ownership of a Transportation Contract with Snam Rete Gas Credentials for the access to the Capacity Portal Registration at PRISMA European Capacity Platform Presentation of appropriate transportation guarantees (Credit Limit) Compliance with Network Code obligations EPSu K < 90% MEPSu K condition Regular payments Subscription of a Transportation Contract with both SRG and TAG (in case of bundled capacity request) Ownership of a valid Trading rule countersigned by the Users and uploaded on Entry Allocation Portal 19

20 Booking process requirements (2/3) 20 Credit Limit Snam Rete Gas determines and transmits to the PRISMA Platform, on a daily basis, the Credit Limit for each User. It will not be possible for Users to bid beyond its Credit Limit. Each bid made by Users will be accepted by the Platform only after having passed the credit limit check. The credit limit check will not be applied to those Users holding a Credit Rating certification compliant with Snam Rete Gas Network Code.

21 21 Booking process requirements (3/3) Trading Rule The Trading Rule at the Interconnection point must be entered in the Entry Allocation Portal by 10:00 of day D-1

22 Day-ahead daily capacity auctions timing 22 The day-ahead capacity will be auctioned through two daily sessions: 1° session: allocation of firm capacity 2° session: allocation of interruptible capacity Snam Rete Gas will publish the capacity on offer for day-ahead booking process in due time for the Users requests: on SRG website, and on the PRISMA Platform (capacity will be converted in KWh/h) Nomination for Gas Day D Pubblish capacity on offer and 1° session auctions Comunication of 1° session auctions results Pubblish capacity on offer and 2° session auctions Outcome of matching process Comunicati on of 2° session auctions results Renomin ation for Gas Day D Outcome of matching process 13:0015:0016:30 – 17.0017:3017:30 – 18.0018:3019:0021:30

23 Day-ahead capacity on offer 1° session – Snan Rete Gas offers Firm daiy capacity firm unbundled 2° session – Snan Rete Gas offers Interruptible daily capacity (Only in case firm capacity is not available or sold out) firm bundled Interruptible bundled Interruptible unbundled 23

24 Day-ahead capacity request Request Binding Max 10 bids for each auction 1.Maximum Capacity 2.Minimum Capacity 3.Price offered (on top of the Reserve Price) Total economic value of bids must be within the Credit Limit During each day-ahead auction Users can: submit up to 10 bids for each capacity product on offer (capacity-price); amend and/or withdraw the bids already submitted; indicate a minimum capacity amount that Users is willing to be allocated in case the Maximum Capacity is not fullfilled. 24

25 Allocation Criteria 25 Uniform Price algorithm: ranking of all bids according to their prices, the highest price ranking first; Users bids are awarded in the given order until the amount of available capacity is reached; the clearing price of the auctions is determined as the price of the last awarded bid; the pro-rata allocation applies only between equally ranked bids that cannot be fully satisfied. The total price that will be charged to each winning User is equal to: the sum of the clearing price and the regulated tariff; or the regulated tariff, in case the total capacity demand is equal or less than the offered capacity.

26 26 The re-nomination made by 19:00 is open to all Users, also to those Users not participating in the auctions. The capacity not nominated by 13:00 and assigned as interruptible in the second auctions session, can be re-nominated by both the original Users and the Users that have been awarded in the 2°session. If the total nomination will exceed the technical transportation capacity, the interruptible capacity allocated in the 2° session will be interrupted on a pro-rata basis to the awarded Users, taking into account their re-nominations. In case of interruption, the total charge will be applied only on the capacity not interrupted. Eventual capacity interruption Nomination for Gas Day D Pubblish capacity on offer and 1° session auctions Comunication of 1° session auctions results Pubblish capacity on offer and 2° session auctions Outcome of matching process Comunicati on of 2° session auctions results Renomi nation for Gas Day D Outcome of matching process 13:0015:0016:30 – 17.0017:3017:30 – 18.0018:30 19:0021:30

27 Allocation results on the Capacity Portal (1/2) 27 On the Capacity Portal of Snam Rete Gas it will be made available a dedicated report through which each User can have access to the following information: auction results for each network point and capacity product; available capacity offered by Snam Rete Gas; submitted bids of its own company; awarded bids of its own company; clearing price and regulated tariff; capacity timeframe; eventual amount of interrupted capacity after the renomination process.

28 Allocation results on the Capacity Portal (2/2) 28

29 Thank you for the attention Commercial aspects and applications http://www.snamretegas.it/en/services/Thermal_Year_2012_2013/Con ferimento_Transizione_Capacita_inizio_A_T/conferimenti_capacita_gior naliera_day_ahead.html

30 Shipper Training Session San Donato Milanese, 5 & 6 March

31 05&06.03.2013 | Chart 31 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

32 05&06.03.2013 | Chart 32 Shipper Training Session Welcome The new platform PRISMA stands for an integrated European PRI mary and S econdary MA rket

33 05&06.03.2013 | Chart 33 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

34 05&06.03.2013 | Chart 34 Shipper Training Session Basic principles of PRISMA PRISMA shareholders Following TSOs are shareholders of PRISMA: Austria: BOG, Gas Connect Austria, TAG Belgium: Fluxys Belgium Denmark:Energinet.dk France: GRTgaz Germany: Bayernets, Gastransport Nord, Fluxys Tenp, Gascade Gastransport, Gasunie Deutschland Transport Services, GRTgaz Deutschland, Nowega, ONTRAS, Open Grid Europe, terranets bw, Thyssengas Italy: Snam Rete Gas The Netherlands: Gasunie Transport Services PRISMA is an open cooperation that allows all European TSOs to participate in the cooperation

35 05&06.03.2013 | Chart 35 Shipper Training Session Basic principles of PRISMA Background of the initiative Foreseeably in 2015, the Network Code on Capacity Allocation Mechanisms (developed by ENTSOG) will come into force for all European countries. The goal of the platform is an early implementation of the Network Code on CAM The new platform will serve for the booking of primary capacity products on all IPs of adjacent Entry Exit Systems in accordance with CAM. Primary market features for points out of the scope of CAM can be envisaged. In addition the platform will be able to handle regional regulatory specifics of different countries (e.g. FCFS). The partners are also working on the secondary market functionalities to be offered on the new platform. April 2013, GO-live of initial platform, releases with new features foreseen in the future Not all of the products will be available right away Until NC CAM comes into force the platform will also handle regional regulatory specifics of different countries

36 05&06.03.2013 | Chart 36 Shipper Training Session Basic principles of PRISMA Timeline PRISMA primary PRISMA creation, New websites & Additional registration information on the platform PRISMA creation, New websites & Additional registration information on the platform 2013 Jan Registration start for European TSOs Feb Launch of the European Capacity Platform PRISMA & auction start Launch of the European Capacity Platform PRISMA & auction start April First Yearly Auction on PRSIMA primary* May Start of rolling Month-Ahead and Day-Ahead auctions* 2014 2015 Start of Within- Day Auctions** First Quarterly Auction on PRISMA primary* June * Restrictions of TSOs can be seen in separate Interconnection Point Overview that will be available in the download section of the platform ** Start of within-day auctions scheduled for 2014 but not fixed yet

37 05&06.03.2013 | Chart 37 Shipper Training Session Basic principles of PRISMA Application of ENTSOG Capacity Allocation Mechanisms (CAM) CAM applies to all interconnection points between adjacent Entry/Exit Systems (EE IPs) Standard Products regarding auction calendar: Annual Yearly (first auction envisaged: May 2013 (extraordinary with some TSOs), March 2014 (ordinary) Annual Quarterly (first auction envisaged: June 2013) Rolling Month-Ahead (first auction envisaged: April 2013) Rolling Day-ahead (first auction envisaged: April 2013) Within-Day (foreseen first auction earliest 2014/2015) Domestic Points can be marketed on the platform on FCFS Basis, if needed FCFS process part of the platform Firm and Interruptible Products will be auctioned at EE IPs Interim period until CAM becomes effective due to national legislation possible

38 05&06.03.2013 | Chart 38 Shipper Training Session Basic principles of PRISMA Marketing structure TSO 1 TSO 2 Capacity Platform Booking TSO 1 Auction TSO 3 Auction TSO 3 Registration TSO 1, TSO 4 Registration TSO 1, TSO 4 Auction TSO 1 Auction TSO 1 Booking TSO 4 Shipper A Shipper B The platform offers two different market models (auctions and first-come-first-served bookings). Additionally, standardized registration, network and contract information services are available. … … TSO N

39 05&06.03.2013 | Chart 39 Shipper Training Session Basic principles of PRISMA Overview of the functionalities of PRISMA primary PRISMA Platform Execution of auctions Shipper registration Shipper registration Booking Overview of inter- connection points Overview of auctions Display of free capacities Processing of auction results Auctions FCFS Bookings Booking request to TSO Display of contract positions Capacity Bundling, Upgrade, Surrender Capacity Bundling, Upgrade, Surrender

40 05&06.03.2013 | Chart 40 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

41 05&06.03.2013 | Chart 41 Shipper Training Session Role Definitions Platform Roles Platform Operator Platform Operator TSO Shipper Everyone Platform Admin TSO Admin TSO User Guest (unregistered) Everyone – No registration and login is required. Guests can look at all the published data as well as at all publicly available information. Shipper User Shipper role with the right to trade capacities with the TSOs. A shipper can have multiple users. TSO User Role for performing non-configurative tasks for the TSOs like activating/deactivating transport customers. TSO Admin Admin role for the configuration of TSO specific values and the management of documents. Platform Admin Super user of the platform used for support and operations. This user can not trade.

42 05&06.03.2013 | Chart 42 Shipper Training Session Role Definitions Role rights matrix Rights Guest Shipper user Public area Viewing public area/ pages xx Viewing master data of interconnection points xx Viewing booking relevant data xx Viewing auction data xx Starting a FCFS booking request xx Bookings and Auctions Booking via FCFS x Submitting/ editing bids in auctions x Saving auctions within the dashboard x Returning capacity x Viewing contract positions x Administration of user accounts and assignments Editing (own) shipper data x Removing (own) shipper user-TSO-assignment x Editing(own) user data x Deactivating (own) account x

43 05&06.03.2013 | Chart 43 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

44 05&06.03.2013 | Chart 44 Shipper Training Session Registration The Registration Process A single user of a shipper can only acquire transport capacities on the platform and on behalf of their company once they have been activated by the respective TSO. Users of a shipper who would like to join the platform have to pass the registration process. If a shipper company is not yet registered, the registration of the shipper takes place with the registration of its first user. A separate registration of the shipper company is not possible. If no longer needed, the shippers as well as their users can be deactivated In order to register to the platform shippers need an EIC Code After a registration the user receives a personal account and token. The account must not be shared with other company members and the token is not transferrable to other users!

45 05&06.03.2013 | Chart 45 Shipper Training Session Registration Registration facts for the new platform Does a shipper already registered to TRAC-X primary have to re-register to PRISMA primary? Customers successfully registered to the former TRAC-X primary do not have to re-register to PRISMA primary But: shippers need to submit additional information to allow the platform to comply with European standards for shipper identification EIC Code (substitutes DVGW-Code as primary key) VAT Number IBAN BIC After logging in with the usual authentication method (user name, token-code) the platform will ask for the additional information. An EIC Code can be obtained at the Central Office or one of the national offices. For a full list, see http://www.eiccodes.eu Please note that you will need to enter this information until 15 th March 2013, otherwise you will not be able to book capacities on PRISMA primary from 1 April 2013.

46 05&06.03.2013 | Chart 46 Shipper Training Session Registration Process model Shipper PRISMA primary Registration request (online) Registration request (online) Entering Identification Code Manual Evaluation of EIC/other codes Does the company already exist on PRISMA? Entering extended master data (for a new company) Adding master data (user-based) Adding master data (user-based) Accepting PRISMA primary GTCs Selecting TSOs Forwarding customer master data to TSO* Adding shipper data in system no TSO Checking mandate / credit rating Activation Activating shipper user for TSO on PRISMA primary Providing TSO specific documents (mandate/ credit rating)* Filling out and sending TSO specific documents Accepting GTCs of TSO (link to TSO homepage) * When requested by TSO

47 05&06.03.2013 | Chart 47 Shipper Training Session Registration User interface In case a shipper is not yet registered on PRISMA primary, the registration of the shipper takes place with the registration of the first shipper user. A separate registration of the shipper company is not possible. Enter EIC Code 1 2 Information to apply for an EIC Code

48 05&06.03.2013 | Chart 48 Shipper Training Session Enter company data 1 Registration User interface Step 1: Check and complete the company data

49 05&06.03.2013 | Chart 49 Shipper Training Session Registration User interface Step 2: Check and completion of the contact persons Add more contacts for the shipper company (e.g. Dispatching, Billing). It is mandatory to add at least one contact per category. Enter the details of further contact persons 1 2 3

50 05&06.03.2013 | Chart 50 Shipper Training Session Registration User interface Step 3: Enter the user details Enter user details 1 2

51 05&06.03.2013 | Chart 51 Shipper Training Session Registration User interface Step 4: Select one or more TSOs Alternative 1: Select all TSOs Alternative 2: Select individual TSOs SNAM Rete Gas S.p.A. For a successful registration the GTCs of the selected TSOs need to be accepted

52 05&06.03.2013 | Chart 52 Shipper Training Session Registration User interface Step 5: Check your entered data and enter national identifiers Enter national identifier codes, e.g. DVGW code (depends on the TSOs you selected). 2 Checking the entered information 1 Snam Rete Gas

53 05&06.03.2013 | Chart 53 Shipper Training Session Registration User interface After the registration you will receive a registration confirmation by PRISMA You will be informed about more required documents for the TSOs

54 05&06.03.2013 | Chart 54 Shipper Training Session Registration Finalise registration & following steps The shipper user sends all required documents to the TSO (set by each TSO: e.g. mandate/ solvency check). 1 2 3 Checking mandate / credit rating Filling out and sending TSO specific documents Activation Activating shipper user for TSO on PRISMA primary … 1 2 3 The TSO checks the documents and activates the shipper user. With activation by the first TSO the shipper will be sent a token (electronic PIN generator) with which the user can log onto PRISMA primary. The shipper user is now able to trade on the primary capacity platform.

55 05&06.03.2013 | Chart 55 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Auction Booking Process 6.1 Uniform Auction Process (Day-Ahead)) 6.2 Bundled Products Booking Process

56 05&06.03.2013 | Chart 56 Shipper Training Session Capacity Products General There are yearly, quarterly, month-ahead and day-ahead products. Where possible capacity will be bundled. Firm and interruptible capacity will be auctioned Interruptible capacity can be converted to firm capacity Return/surrender of firm capacity is possible* * At the moment not relevant in the Italian market

57 05&06.03.2013 | Chart 57 Shipper Training Session Capacity Products General All products are auctioned at predefined (different) points in time that can be found in the auction calendar. The publication of the specific products which will be auctioned takes place in due time before the auction starts (1 month for annual products, 1 week for quarterly and monthly products, no advance publication for day-ahead products). There are two different algorithms for actions: the ascending clock auction algorithm for yearly, quarterly, and month-ahead products and the uniform-price algorithm for day- ahead products. The ascending clock auction takes place in at least one bidding round (is the demand in the first bidding round higher than the capacity offered more bidding rounds will be used). The duration of an ascending clock bidding round is one hour (exception: duration of the first bidding round is three hours) The number of bidding rounds in an ascending clock auction that are needed until an allocation is possible depends on the course of the auction. Day-ahead capacity is auctioned in a single bidding round via the uniform price algorithm Interruptible capacity auctions are optional until NC CAM comes into force and are until then subject to national variations

58 05&06.03.2013 | Chart 58 Shipper Training Session Capacity Products Auction types Monthly, Quarterly and Yearly products are auctioned by using an ascending- clock auctioning process Auctioning takes place in (multiple) bidding rounds. In each bidding round a bid for a certain quantity of capacity at a given price is submitted. The price steps are determined by the platform. Day-Ahead products are auctioned in a process using the uniform-price algorithm There is only one bidding round. A shipper can submit up to 10 bids per auction. The platform evaluates all bids in a descending-order according to their price. The lowest price of all awarded bids is considered the clearing price.

59 05&06.03.2013 | Chart 59 Shipper Training Session Capacity Products Auction Times Overview ProductFrequency of auctions Number of products per auction Start of the auction Bidding roundPublication amount of capacity Publication of allocation results to individuals Auction algorithm Auction Calendar for firm capacity products Year annual Y1 to Y15 1st Monday of March First round 3h: 09:00-12:00 Then 1h: 13:00-14:00 15:00-16:00 17:00-18:00 1 month before the auction starts* no later than next business day * Ascending Clock auction Quarter Q1 to Q4 1st Monday of June 1 week before the auction starts * Month monthlyM13rd Monday Day dailyD116:3016:30-17:00 *16:30 no later than 30 minutes * Uniform Price auction Auction Calendar for interruptible capacity products Y,Q,M see above The day after closure of respective firm product 09:00. see above The day after closure of respective firm product (7:00) no later than next business day * Ascending Clock auction Day dailyD117:3017:30-18:00 At the time the auction starts no later than 30 minutes * Uniform Price auction *09:00*after closing of the bidding round Time zone for all times: CE(S)T – Central European (Summer) Time

60 05&06.03.2013 | Chart 60 Shipper Training Session Capacity Products Auction Calendar for Day-Ahead Products Marketing of day- ahead D+1 (e.g. Tue for Wed) constantly D for D+1 t MarFebAprMay ParameterCalendar entryValid for: Publication FIRM: On the day of the auction until 16:30 CE(S)T INTERRUPTIBLE: On the day of the auction until 17:30 CE(S)T D+1 Start of auction FIRM: Recurring daily 16:30 CE(S)T INTERRUPTIBLE: If offered, daily 17:30 CE(S)T D+1 First auction01 April 201302 April 2013

61 05&06.03.2013 | Chart 61 Shipper Training Session Capacity Products Bidding rounds Day 1: 09:00 – 12:001 st bidding round 12:00 – 13:00processing & publishing 13:00 – 14:002 nd bidding round 14:00 – 15:00processing & publishing […] 17:00 – 18:00 4 th bidding round As of day 2: 09:00 – 10:005th bidding round 10:00 – 11.00 processing & publishing […] 17:00 – 18:00x bidding round Yearly, quarterly and monthly products Day-Ahead products Single-step approach (uniform price auction algorithm) Start 16:30 Bid-list allowing max. 10 additive bids Fill-or-kill option subject to minimum amount condition Pro-rata allocation in case of equally-ranked bids Price increment 0,00001 Same price for all successful bidders

62 05&06.03.2013 | Chart 62 Shipper Training Session Capacity Products Auction calendar The auction calendar can be found in the customer centre The auction calendar gives an overview of the auction starts and the auction publication dates as well as the transport duration of the products The overview of the different dates can be filtered by products

63 05&06.03.2013 | Chart 63 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

64 05&06.03.2013 | Chart 64 Shipper Training Session Booking Process Options for booking capacity Two possibilities to book capacities on PRISMA primary: At Interconnection Points (Market area interconnection points and Cross-Border points) firm capacity is marketed via auctions. Interruptible capacity will, until NC CAM comes into force, only be offered by some TSOs via auctions. The German TSOs still offer to book capacities according to the first-come-first- served principle (FCFS) at points to end consumers, production and storage facilities (Grid Access Points). Furthermore, you can book interruptible capacities according to the FCFS principle at German Interconnection Points. Different possibilities to start one of the booking processes: Auction overview : From a list of all available auctions you can directly access the screen for submitting a bid for a certain auction (booking process I) Master data browser for interconnection points: see next slide

65 05&06.03.2013 | Chart 65 Shipper Training Session Booking Process The master data browser can be found in the section Network Information Search for network points according to certain criteria Displays the different possible actions that are available at a specific network point Master data browser for interconnection points

66 05&06.03.2013 | Chart 66 Shipper Training Session Booking Process Master data browser for interconnection points When you select an interconnection point all details of this point are displayed. In case of a bundled interconnection point a link will guide you to the two involved unbundled interconnection points. Snam Rete Gas Tarvisio Entry Snam Rete Gas Italy 0 05&06.03.2013 | Chart 50

67 05&06.03.2013 | Chart 67 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Bundled Products Booking Process

68 05&06.03.2013 | Chart 68 Shipper Training Session Uniform Auction Process (Day-Ahead) Process map Evaluate available capacity Design standard products Transfer to platform Start auction Platform TSO Submit a bid Evaluate bidding round Send result to TSO and Shipper Publish result Book capacity and setup contract Receive confirmation Shipper

69 05&06.03.2013 | Chart 69 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process A2 Placing bids A1 amount surcharge amount B1 B2 surcharge B3 Bidder A Bidder B Available capacity Price component of a bid Volume component of a bid

70 05&06.03.2013 | Chart 70 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process A2 Placing bids A1 amount surcharge amount B1 B2 surcharge B3 Bidder A Bidder B Available capacity Minimum amounts Price component of a bid Volume component of a bid

71 05&06.03.2013 | Chart 71 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process A2 Placing bids A1 amount surcharge amount B1 B2 surcharge B3 Bidder A Bidder B Available capacity A1 amount Available capacity B1 B2 A2 surcharge B3 Ranking according to price components

72 05&06.03.2013 | Chart 72 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 Available capacity B1 B2 A2 surcharge B3 Example 1: Fill-or-kill: fill

73 05&06.03.2013 | Chart 73 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge B3 A1 amount B1 B2 A2 surcharge B3 Available capacity X B2 = equilibrium bid Minimum amount < rest B2 filled B3: price component < clearing price No consideration of B3 Example 1: Fill-or-kill: fill

74 05&06.03.2013 | Chart 74 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge B3 A1 amount B1 B2 A2 surcharge B3 Available capacity X B2 = equilibrium bid Minimum amount < rest B2 filled B3: price component < clearing price No consideration of B3 Example 1: Fill-or-kill: fill Clearing price = price component of B2

75 05&06.03.2013 | Chart 75 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge B3 Example 2: Fill-or-kill: kill

76 05&06.03.2013 | Chart 76 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge B3 A1 amount B1 B2 A2 surcharge B3 B3 = equilibrium bid Full allocation B2: Minimum amount > rest B2 killed Example 2: Fill-or-kill: kill X Available capacity

77 05&06.03.2013 | Chart 77 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge B3 A1 amount B1 B2 A2 surcharge B3 B3 = equilibrium bid Full allocation B2: Minimum amount > rest B2 killed Example 2: Fill-or-kill: kill X Clearing price = price component of B3 Available capacity

78 05&06.03.2013 | Chart 78 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge A3 Example 3: Pro-rata allocation between equally ranked bids

79 05&06.03.2013 | Chart 79 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge A3 A1 amount B1 B2 A2 surcharge A3 Pro-rata allocation between B2 and A3 as long as minimum amount condition is fulfilled for both bids Example 3: Pro-rata allocation between equally ranked bids Available capacity

80 05&06.03.2013 | Chart 80 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determination of the Clearing Price A1 amount Available capacity B1 B2 A2 surcharge A3 A1 amount B1 B2 A2 surcharge A3 Pro-rata allocation between B2 and A3 as long as minimum amount condition is fulfilled for both bids Example 3: Pro-rata allocation between equally ranked bids Clearing price = price component of B2 or A3 respectively Available capacity

81 05&06.03.2013 | Chart 81 Shipper Training Session Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Determining the Clearing Price A1 amount B1 tariff / surcharge Clearing price in case of no intersection between demand curve and available capacity Available capacity Clearing price = starting price In general, the market clearing price equals the price component of the lowest successful bid In case no intersection between demand curve and supply curve (available capacity) exists, the starting price of the respective auction (e.g. regulated tariff) will be considered as the clearing price

82 05&06.03.2013 | Chart 82 Shipper Training Session Uniform Auction Process (Day-Ahead) Details of a Day-Ahead auction For day-ahead auctions a simplified auctioning method is used. This means that there is only one bidding round in which you enter the desired capacity that you are prepared to buy up to a certain price. It is possible to place up to 10 bids per shipper for a day-ahead auction. Enter your bid Enter your maximum capacity amount Enter your minimum capacity amount

83 05&06.03.2013 | Chart 83 Shipper Training Session Uniform Auction Process (Day-Ahead) Comfort Function for Day-Ahead auctions By using the so-called day-ahead comfort function you have the possibility to submit bids for day-ahead auctions in advance. The comfort function can be started from the auction details screen or from Comfort bids in the My PRISMA primary section Creating a new comfort bid in advance

84 05&06.03.2013 | Chart 84 Shipper Training Session Uniform Auction Process (Day-Ahead) Comfort Function for Day-Ahead auctions When using the comfort function for day-ahead auctions you have to select a time period during which you want to automatically use your defined bid for certain day- ahead products. Entering a time period in which a bid is placed automatically for a day- ahead product

85 05&06.03.2013 | Chart 85 Shipper Training Session Agenda 1Welcome 2Basic Principles of PRISMA 3Role Definitions 4Registration 5Capacity Products 6Booking Process 6.1 Uniform Auction Process (Day-Ahead) 6.2 Booking Process for Bundled Products

86 05&06.03.2013 | Chart 86 Shipper Training Session Booking Process for Bundled Products Bundled capacity process [ ] PRISMA TSO 1 Shipper * Bilateral coordination between TSOs Upload raw data or standard product Create & match bundled and unbundled products Assign products to auction rounds Start auction Send result to shipper and TSO * Bilateral coordination between TSOs Upload raw data or standard product Receive auction result Book capacity Book capacity Book capacity Book capacity Setup contract Setup contract Setup contract Setup contract Receive contract from TSO 1 Receive contract from TSO 2 TSO 2

87 05&06.03.2013 | Chart 87 Shipper Training Session Booking Process for Bundled Products Bundled capacity: tariffing The payable price after auction consists of: Regulated capacity tariff TSO 1 +Additional fees TSO1 +Regulated capacity tariff TSO2 + Additional fees TSO2 =Starting price +Auction premium (Surcharge through price steps) =Payable price for shipper division factor between TSO1 & TSO2 (default 50% / 50%) information from TSOs

88 05&06.03.2013 | Chart 88 Shipper Training Session Booking Process for Bundled Products Auction Details The bundling of capacities takes place at all possible interconnection points In case of a bundled auction you will be informed about it in various places The way a bundled product is displayed is different that of an unbundled product 2 interconnection points, market areas, TSOs, capacity types, prices etc. are shown

89 05&06.03.2013 | Chart 89 Shipper Training Session Booking Process for Bundled Products Submitting a bid When submitting a bid for a bundled product you have to accept the GTCs for each TSO and enter (optionally) a balancing group / portfolio code for each TSO. Enter a balancing group for TSO 1 (depending on the TSO optional or mandatory) Enter a balancing group for TSO 2 (depending on the TSO optional or mandatory) Accept the GTCs of TSO1 & TSO 2

90 05&06.03.2013 | Chart 90 Shipper Training Session Contact Contact information Information before registering on the platform PRISMA Hotline Tel.: +49 341 699 2990 66 primary@prisma-capacity.eu For technical issues after registration User Help Desk Tel.: +49 341 699 2990 69 support-primary@prisma-capacity.eu For TSO related issues Please call your individual TSO contact

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