EPEX Spot realizes integrated Franco-German Intraday market place
Düsseldorf / Leipzig / Stuttgart / Paris, 14/12/2010 – The transmission system operators, Amprion and EnBW TNG in Germany and RTE in France have successfully launched an harmonized mechanism for Intraday cross-border capacity allocation on the Franco-German border starting from 13 December 2010 for first deliveries on 14 December.
Consequently, as of 14 December, the European Power Exchange EPEX Spot has started offering to its members the opportunity to access an integrated Franco-German Intraday market place.
This mechanism of continuous implicit allocation on intraday, allowing in parallel explicit allocation for OTC trades, is the very first of its kind in Europe, an open, flexible and efficient mechanism of intraday capacity allocation. It has been established in an accelerated implementation timeframe with a minimum change of existing market rules and infrastructures, aiming at fulfilling efficiently all market participants’ requirements and power system security.
This new harmonized cross-border capacity allocation mechanism, implemented by the Transmission System Operators, on a continuous ” first come-first served” principle, is based on an existing Intraday Capacity Service (https://www.intradaycapacity. com), already used on most of the German borders (DE-CH, DE-FR, DENL, DE-DK1). This harmonization also enables implicit allocation of cross-border capacity to trading platforms in the French-German intraday markets.
EPEX Spot has successfully activated the connection of its intraday trading system, ComXerv, to the Intraday Capacity Service. In this way, an integrated Franco-German Intraday market place is available to the EPEX Spot members without any impacts in the current trading and clearing practices. Clearing and settlement of the traded energy will be done by the European Commodity Clearing AG (ECC), the clearing house for all EPEX Spot markets.
Integration of Intraday markets is crucial for the development of liquidity, in particular with respect to the efficient use of increasing renewable energy. France and Germany represent together more than 1,150 TWh of yearly power consumption at the heart of the European market, which means about 40 % of the total power consumption in the European Union.
About Intraday Market
Concerning interconnection capacity allocation, TSOs start intraday capacity allocation after the daily auctions. Intraday capacity allocation mechanisms are different depending on the borders. Generally, the Intraday Market refers to the market which starts after the closure of the Day-ahead Market, and consequently occurs until few hours before delivery. Intraday Markets are the last opportunity for market participants to balance their positions. On EPEX Spot, the Intraday Market is a continuous market, which opens at 15:00 the day before the delivery, and closes one hour before delivery.
About the partners
Amprion GmbH operates Germany's longest extra-high voltage grid, with a circuit length of 11,000 km, and is an important transmission systems operator in Europe. The Amprion grid supplies power to a population of over 27 million from Lower Saxony to the Alps. As an innovative service provider, Amprion provides industrial customers and network partners with maximum security of supply. Its network, with voltage levels of 380,000 and 220,000 volts, is accessible to all players in the electricity market on a non-discriminatory basis and on competitive and transparent terms. Amprion is also responsible for coordinating the interconnected system within Germany and the Northern section of Europe's extra-high voltage network.
European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement for exchange and over-the-counter transactions in energy. The Leipzig-based company was established in the year 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary. Currently, ECC provides clearing as well as physical and financial settlement of the transactions concluded on APX-ENDEX, CEGH Gas Exchange of Wiener Börse, EEX, EPEX Spot and Powernext.
EnBW Transportnetze AG (EnBW TNG) operates the transmission network in the German Federal State Baden-Württemberg. This network comprises around 3,650 kilometres of 380,000 and 220,000-volt very high-voltage lines connected to the regional 110,000-volt distribution networks via 81 transformers. The EnBW TNG transmission network is integrated in the German and European interconnection system via 36 coupling points. At the borders of the control areas, it is directly connected to the networks within Germany as well as those crossing over into France, Austria and Switzerland. EnBW TNG provides all market participants with access to the transmission network at transparent and non-discriminatory conditions and to ensure the reliable supply of electricity at all times.
EPEX Spot SE organises and operates the power spot markets for France, Germany, Austria and Switzerland (Day Ahead and Intraday). Together these countries account for more than one third of the European electricity consumption. EPEX Spot is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig. 244 TWh were traded on the EPEX Spot power markets from 1 January to 30 November 2010.
RTE is the operator of the French electricity transmission grid. Company of public service, RTE is responsible of the high and very high voltage grid operation, maintenance, and development. RTE guarantees the right operation of the power system and its reliability. RTE transports electricity between electricity suppliers (French and European) and consumers, who are either electricity distribution operators or industrial consumers directly connected to the transmission grid. With 100,000 km of lines between 63 000 and 400 000 volts and 45 cross-border lines, the network operated by RTE is the most important in Europe. RTE achieved a turnover of € 4,130 million in 2009 and employs approximately 8,500 persons.
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Kirsten Koenigs LL.M.
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