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The Electricity Pool Status Update - England & Wales Retail competition began rollout in September Retail competition began rollout in September - profiling.

Published byStephanie Goodwin Modified over 8 years ago

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Presentation on theme: "The Electricity Pool Status Update - England & Wales Retail competition began rollout in September Retail competition began rollout in September - profiling."— Presentation transcript:

1 The Electricity Pool Status Update - England & Wales Retail competition began rollout in September Retail competition began rollout in September - profiling based settlement - profiling based settlement - 14 month final reconciliation - 14 month final reconciliation - “Retailer-hub” commercial framework - “Retailer-hub” commercial framework Major review of market initiated by government Major review of market initiated by government - bilateral contract based trading arrangements - bilateral contract based trading arrangements - centralised control - centralised control - 2 year £500 million programme to implement - 2 year £500 million programme to implement

2 The Electricity Pool Key Issues - England & Wales Form of new Trading Arrangements - especially balancing market Form of new Trading Arrangements - especially balancing market Demonstration / evaluation of benefits - key concerns regarding liquidity, transparency, security of supply Demonstration / evaluation of benefits - key concerns regarding liquidity, transparency, security of supply Governance of new market - central control via NGC Governance of new market - central control via NGC Vertical integration Vertical integration

3 The Electricity Pool Parallel Markets Forwards and Futures Settlement Day Ahead Auction Settlement Short term Bilateral Market Settlement Balancing Market Settlement Ancillary Services Capacity Options? ResidualSettlements

4 The Electricity Pool Trading Electricity - Today Risk Management Spot Market Delivery DespatchTransmission Settlement Special Issues LiquidityTiming (generator flexibility) Real time balancing Shared, constrained capacity Mutual risk of disconnection 14 month reconciliation Today Bilateral contracts: EFAs, CfDs NGC licence Pooling and Settlement Agreement (the “Pool”)

5 The Electricity Pool Trading Electricity - Proposed Risk Management Spot Market Delivery DespatchTransmission Settlement Special Issues LiquidityTiming (generator flexibility) Real time balancing Shared, constrained capacity Mutual risk of disconnection 14 month reconciliation RETA Forwards, Futures Balancing and Settlement Code/NGC licence Short Term Bilateral market

6 The Electricity Pool Proposed Governance ImplementationEnduring OFFER / DTI Development and Implementation Steering Group Expert Groups Informal structure Reliance on NGC and other providers OFFER NGC Balancing and Settlement Code Panel Service Providers Balancing and Settlement Code - advice from Panel - authority via NGC licence NGC breakup?

7 The Electricity Pool Vertical Integration 49.5% 42% 11.5%

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