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DAY-AHEAD CAPACITY ALLOCATION

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Presentation on theme: "DAY-AHEAD CAPACITY ALLOCATION"— Presentation transcript:

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

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

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

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

5 Regulatory framework Resolution 536/2012/R/gas of ‘Autorità per l’energia 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

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

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

8 Capacity allocation (1)
CHAPTER 5 Capacity allocation (1) 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 Capacity allocation (2)
CHAPTER 5 Capacity allocation (2) 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 Sm3/day Daily capacity definition (each gas day ‘D-1’) Entry/Exit Points with foreign import/export pipelines Firm Daily Capacity = not allocated capacity for Gas day D Interruptible Daily Capacity = not nominated booked capacity for Gas day D Tarvisio Entry/Exit point Firm Daily Capacity = bundled Firm Daily Capacity + unbundled Firm Daily Capacity Interruptible Daily Capacity = bundled Interruptible Daily Capacity + unbundled Interruptible Daily Capacity determinating

10 Capacity allocation (3)
CHAPTER 5 Capacity allocation (3) Daily capacity determination at Tarvisio: example * Firm Daily Capacity offered by SRG U N B U N D L E D SRG Available firm capacity for Gas day ‘D’ B U N D L E D Firm Daily Capacity offered by SRG TAG 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)

11 Capacity allocation process (1)
CHAPTER 5 Capacity allocation process (1) Participation Requirements Transportation Contract with SRG Ability to operate on PRISMA Platform Adequate transportation service guarantee (‘Limite di Conferimento’) Network Code obligations condition EPSuK < MEPSuK 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 capacity to be offered minimum acceptable capacity price (additional value as compared to the Reserve Price) Σ bids not exceeding the ‘Limite di Conferimento’ 11

12 Capacity allocation process (2)
CHAPTER 5 Capacity allocation process (2) Capacity allocation through auction process One or more auction according to capacity on offer requests Allocation result Auction result Allocation result notification to each participating party allocated capacity, and related price at the conclusion of the auction process publication of final aggregated allocation results 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 12

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

14 Nomination and Renomination of daily programmes in the Gas-day D-1
CHAPTER 8 Nomination and Renomination of daily programmes in the Gas-day D-1 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 14:00/16.00 11:30 12:00 13:00 19:00 21:30 D-1 t Report Provisional Allocation Data day D-1 PSV registrations deadline Nomination deadline Confirmation of nomination Renomination deadline Confirmation of renomination Publication of TSO information Publication of TSO information 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 N.B. The allocation of bundled capacity by SRG does not automatically imply a capacity allocation for the interconnected systems and vice versa. 14

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

16 Thank you for your attention
SRG network code -Updating proposal n. 18 Thank you for your attention

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

18 Booking process requirements Day-ahead daily capacity auctions timing
Agenda III SRG - COMMERCIAL ASPECTS AND SRG APPLICATIONS 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 18 18

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 EPSuK < 90% MEPSuK 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

20 Booking process requirements (2/3)
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. 𝑪𝒓𝒆𝒅𝒊𝒕 𝑳𝒊𝒎𝒊𝒕=𝟏,𝟐× 𝟏 𝟑 𝑩𝒂𝒏𝒌 𝑮𝒖𝒂𝒓𝒂𝒏𝒕𝒆𝒆− 𝑴𝒂𝒙 𝑪𝒂𝒑𝒂𝒄𝒊𝒕𝒚 𝒇𝒆𝒆 𝟑 20 20

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
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 Comunication of 2° session auctions results Renomination for Gas Day D 13:00 15:00 16:30 – 17.00 17:30 17:30 – 18.00 18:30 19:00 21:30 22 22

23 1° session – Snan Rete Gas offers 2° session – Snan Rete Gas offers
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

24 Day-ahead capacity request
Binding Max 10 bids for each auction Maximum Capacity Minimum Capacity 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.

25 Uniform Price algorithm:
Allocation Criteria 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. 25 25

26 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 Comunication of 2° session auctions results Renomination for Gas Day D 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. 13:00 15:00 16:30 – 17.00 17:30 17:30 – 18.00 18:30 19:00 21:30

27 Allocation results on the Capacity Portal (1/2)
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. 27 27

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

29 Commercial aspects and applications
Thank you for the attention

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

31 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

32 Welcome The new platform
PRISMA stands for an integrated European PRImary and Secondary MArket

33 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

34 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 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 Basic principles of PRISMA Timeline PRISMA primary
PRISMA creation, New websites & Additional registration information on the platform Launch of the European Capacity Platform PRISMA & auction start First Yearly Auction on PRSIMA primary* Registration start for European TSOs Start of rolling Month-Ahead and Day-Ahead auctions* First Quarterly Auction on PRISMA primary* Start of Within-Day Auctions** Jan Feb April May June 2014 2015 2013 * 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 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 Basic principles of PRISMA Marketing structure
Shipper A Shipper B Booking TSO 1 Auction TSO 3 Registration TSO 1, TSO 4 Auction TSO 1 Booking TSO 4 Capacity Platform TSO 1 TSO 2 TSO N The platform offers two different market models (auctions and first-come-first-served bookings). Additionally, standardized registration, network and contract information services are available.

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

40 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

41 Role Definitions Platform Roles Guest (unregistered)
Operator TSO Shipper Everyone Admin User Guest (unregistered) 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 Administration of user accounts and assignments
Role Definitions Role rights matrix Rights Guest Shipper user Public area Viewing public area/ pages x Viewing master data of interconnection points Viewing booking relevant data Viewing auction data Starting a FCFS booking request Bookings and Auctions Booking via FCFS Submitting/ editing bids in auctions Saving auctions within the dashboard Returning capacity Viewing contract positions Administration of user accounts and assignments Editing (own) shipper data Removing (own) shipper user-TSO-assignment Editing(own) user data Deactivating (own) account

43 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

44 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 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 Please note that you will need to enter this information until 15th March 2013, otherwise you will not be able to book capacities on PRISMA primary from 1 April 2013.

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

47 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. 1 Enter EIC Code 2 Information to apply for an EIC Code

48 Registration User interface
Step 1: Check and complete the company data 1 Enter company data

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

50 Registration User interface Step 3: Enter the user details 1 2
Enter user details 2

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

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

53 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 Finalise registration & following steps
Filling out and sending TSO specific documents 1 The shipper user sends all required documents to the TSO (set by each TSO: e.g. mandate/ solvency check). 1 3 Activating shipper user for TSO on PRISMA primary 2 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. 3 2 Checking mandate / credit rating Activation

55 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Auction Booking Process Uniform Auction Process (Day-Ahead)) Bundled Products Booking Process

56 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 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 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 Auction Times Overview
Capacity Products Auction Times Overview Product Frequency of auctions Number of products per auction Start of the auction Bidding round Publication 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 monthly M1 3rd Monday Day daily D1 16:30 16:30-17:00 * 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. The day after closure of respective firm product (7:00) 17:30 17:30-18:00 At the time the auction starts    *09:00 *after closing of the bidding round Time zone for all times: CE(S)T – Central European (Summer) Time

60 Auction Calendar for Day-Ahead Products
Capacity Products Auction Calendar for Day-Ahead Products Marketing of day-ahead D+1 (e.g. Tue for Wed) constantly Feb Mar Apr May t D for D+1 Parameter Calendar entry Valid 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 First auction 01 April 2013 02 April 2013

61 Yearly, quarterly and monthly products
Capacity Products Bidding rounds Yearly, quarterly and monthly products Day-Ahead products Day 1: 09:00 – 12:00 1st bidding round 12:00 – 13:00 processing & publishing 13:00 – 14:00 2nd bidding round 14:00 – 15:00 processing & publishing […] 17:00 – 18:00 4th bidding round As of day 2: 09:00 – 10:00 5th bidding round 10:00 – processing & publishing 17:00 – 18:00 x bidding round 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 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 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

64 Options for booking capacity
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 Master data browser for interconnection points
Booking Process Master data browser for interconnection points 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

66 Master data browser for interconnection points
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 Italy Entry Snam Rete Gas 05& | Chart 50

67 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Bundled Products Booking Process

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

69 Volume component of a bid
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Placing bids surcharge surcharge Bidder A Available capacity Bidder B Available capacity A1 B1 A2 Price component of a bid B2 B3 amount amount Volume component of a bid

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

71 Ranking according to price components
Uniform Auction Process (Day-Ahead) Day-Ahead bidding process Placing bids surcharge surcharge Bidder A Available capacity Bidder B Available capacity A1 B1 A2 B2 B3 amount amount Ranking according to price components surcharge Available capacity A1 B1 A2 B2 B3 amount

72 Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price Example 1: Fill-or-kill: „fill“ surcharge Available capacity A1 B1 A2 B2 B3

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

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

75 Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determination of the Clearing Price Example 2: Fill-or-kill: „kill“ surcharge Available capacity A1 B1 A2 B2 B3 amount

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

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

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

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

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

81 Uniform Auction Process (Day-Ahead) Day-Ahead bidding process
Determining the Clearing Price Clearing price in case of no intersection between demand curve and available capacity 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 tariff / surcharge Available capacity A1 B1 Clearing price = starting price amount

82 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 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 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 Agenda 1 Welcome 2 Basic Principles of PRISMA 3 Role Definitions 4
Registration 5 Capacity Products 6 Booking Process Uniform Auction Process (Day-Ahead) Booking Process for Bundled Products

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

87 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 information from TSOs division factor between TSO1 & TSO2 (default 50% / 50%)

88 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 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 Contact Contact information Information before registering on the platform PRISMA Hotline Tel.: For technical issues after registration User Help Desk Tel.: For TSO related issues Please call your individual TSO contact

91 Thank you!


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