Market Operator User Group Dublin, 18 July 2019 1
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea Query Management Claire Breslin Q&A 2
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea Query Management Claire Breslin Q&A 3
Repricing Survey • Participants requested a survey on Repricing at the MOUG on the 20 th of June. • The survey was sent to participants to better understand how the industry values the accuracy, firmness and timeliness of prices in the context of a major repricing project. • 37 respondents represented the market. 4
Repricing Survey Results 5
Repricing – The Outcome 13.51% are in favour of repricing. 70.27% are not in favour of repricing 16.22% have a neutral view. • While the majority of participants are not in favour of carrying out repricing, there is a material minority that are in favour. • Taking this into account, along with the default position under the Trading and Settlement Code , • SEMO intends to proceed with re-pricing. 6
Repricing – The Next Steps • SEMO have submitted a proposal to the RA’s for a reduction to the Price Materiality Threshold (from 5% to 0%) from the period 1 st October 2019, until such time as an I.T solution, that can calculate materiality, is delivered. • With a 0% Materiality Threshold, SEMO can commence repricing once system testing is completed successfully. • To apply materiality, an I.T solution is tentatively one year away from delivery. • This proposal to reduce the Price Materiality Threshold is based on: • Imbalance Repricing Survey • Functional Restrictions within the current I.T solution • Appropriate use of the Price Materiality Threshold 7
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea Query Management Claire Breslin Q&A 8
Known Issues Update – Summary (1 of 2) • Known Issues continue to be analysed and prioritised as and when they occur. • Once a defect has been raised, the issue will be assessed in the wider defect pool and assigned to a code drop in line with its severity and priority. • Drop dates to test have been agreed with our vendor, with release to production plans provided based on successful test closure. • The table below presents a breakdown of the upcoming releases, Known Issues coverage and expected benefit. Release Bundle Status Known Issues Coverage Expected Benefit • Release A Deployed to production on 14 Issues Resolution to a number of settlement issues the 29 th of January 2019 including Fixed Cost complex bid resolution, Interconnection charges, and Autoproducers difference payments and charges fix • Report 44 incorrect values for QCOB and QCNET • Report 102 publication issue • Internal operational improvements • Improved resettlement and repricing functionality • Release B Deployed to Production on 4 Issues Improvements to QBOA function including the 26 th of March 2019 resolution to units being skipped • Improved resettlement and repricing functionality • Hotfixes were deployed to address difference charges for Interconnectors and supplier units • Bill case optimisation • Hotfixes Ad Hoc deployments to 2 issues Multiple unit PN submissions with units under test • Release B M+4 optimisation hotfix • QBOA Optimisation Hotfix • 30 Minute imbalance price not being produced (in test) 9
Known Issues Update – Summary (2 of 2) • Known Issues continue to be analysed and prioritised as and when they occur. • Once a defect has been raised, the issue will be assessed in the wider defect pool and assigned to a code drop in line with its severity and priority. • Drop dates to test have been agreed with our vendor, with release to production plans provided based on successful test closure. • The table below presents a breakdown of the upcoming releases, Known Issues coverage and expected benefit. Release Bundle Status Known Issues Coverage Expected Benefit • Release C Closed 26 Issues Fixes for Reports highlighted as priorities from participants • CFC improvements • Improvements to the QBOA function • Consolidation of hotfixes • Release D Currently in test 12 issues Improvement to CFC • REPT_082 publishing data for de registered units • REPT_042 Net Interconnector schedule incorrectly calculated • Repricing Functionality • Release E TBC TBC TBC 10
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea Query Management Claire Breslin Q&A 11
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea Query Management Claire Breslin Q&A 12
M7 Release Schedule M7 Version Date Content Client type Impact No impact on output files Passwords will expire every 90 days Passwords must be 12 characters Members can reset SEMOpx members should them any time before be advised, that the only *Early Q3 2019 expiry via the impact for SEMOpx V6.7 MO and Trader client ComTrader login screen Postponed until 10/09/19 members is a password to reset the 90 day due to technical issues policy change countdown. Email will be sent 10 days before expiration to remind each user. If a password expires, an email with a reset link will be sent. V6.8 *TBC WebStart Comtrader to MO and Trader client be discontinued due to Webstart Comtrader no changes in the support longer supported of Java * Date to be Confirmed 13
ETS Release Schedule ETS Version Date Content Client type Impact Format of the market results file and the bid Introduction of unique file will change. V3.3.2 *September 2019 MO and Trader client trade and trader ID Impact on Market Participants. Introduction of block bid submission graph in the trader GUI Impact analysis will be V3.4 *End of 2019 MO and Trader client in the course of 2019 Trading Session Automation * Date to be Confirmed 14
Intra-Day Auction MNA Go-live 23/07/2019 NI ECC AG Moyle ECC EPEX UK BritNED EWIC IRL ECC AG Nord Pool IFA (VH) 15
Intra-Day Auction MNA Go-live 23/07/2019 • Introduction of Nord Pool Spot in the SEM-GB Intra-Day Auctions (1&2) • No change to functionality or services • Main changes are Procedural and Process on the SEM side of auctions • Changes on GB side are to include NPS in shipping arrangements, technical changes to the replicate the DAM configuration • Regional project and testing completed 11/07/19 – Testing completed and all parties satisfied • Go-live delivery date 24/07/19 (23/07/19 auction date) 16
Ex-Ante Markets • Market Value % of DAM Volumes from ex-ante (10 th June – 10 th July) DAM € 147,505,207 – DAM is dominant IDA1 € 7,931,928 5.38% IDA2 € 3,640,607 2.47% *Using approx. prices IDA3 € 1,239,118 0.84% IDC € 1,087,687 0.74% 17
Ex-Ante Auction Price Look Back 18
Ex-Ante Auction Price Look Back • Outliers – What was happening in the market on these days? 19
• Outliers – What were the fundamentals? 20
• Outliers – What were the fundamentals? 21
• Outliers – What were the fundamentals? 22
• Outliers – What were the fundamentals? 23
• Outliers – What were the fundamentals? 24
Amber Alert Announced…. • Outliers – What were the fundamentals? 25
• Outliers – What were the fundamentals? 26
• Outliers – What were the fundamentals? 27
Ex Ante Market – January 24 th IDC Trading …. • Amber Alert announced 11.30 … 28
Ex Ante Market – July 8 th IDC Trading …. • Amber Alert announced 14.45 … 29
Ex-Ante Market Analysis • In Summary SEMOpx markets are orderly Processes are working! 30
Agenda Item Presenter Welcome Michael Cleary Repricing Update Julie McGee Known Issues Update Shane O’Mullan, Michael Cleary General System Failure Michael Cleary Ex-Ante Market Michael Atcheson, Liam McAllister Balancing Market John Ging, Rory Cafferky Settlements John O’Dea, Query Management Claire Breslin Q&A 31
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