TERM MARKETS Seminar at NVE, 21 June 2019 Marte Lind, Statkraft 2 - PowerPoint PPT Presentation

Jun 10, 2023 •13 likes •153 views

WELL-FUNCTIONING SHORT- TERM MARKETS Seminar at NVE, 21 June 2019 Marte Lind, Statkraft 2 Direct marketing of renewables by Statkraft currently 12.3 GW (mainly wind) all remote controlled 3 Deviations from Day-ahead forecasts are traded at

WELL-FUNCTIONING SHORT- TERM MARKETS Seminar at NVE, 21 June 2019 Marte Lind, Statkraft
2
Direct marketing of renewables by Statkraft currently 12.3 GW (mainly wind) all remote controlled 3
Deviations from Day-ahead forecasts are traded at the short-term markets …. a lower ….at a lower price price Higher generation must be sold … Source: Statkraft Portfolio Thursday 17.05.2018 4
Deviations from Day-ahead forecasts are traded at the short-term markets Last forecast came too late to be traded Source: Statkraft Portfolio Thursday 14.05.2018 5
Deviations from Day-ahead forecasts are traded at the short-term markets Remaining imbalance settled at imbalance price Last forecast came too late to be traded Source: Statkraft Portfolio Thursday 14.05.2018 6
… which can be very high Source: Statkraft Portfolio Thursday 14.05.2018 7
Intraday price developments: Highest volumes and volatility close to delivery 30 April 2017 (long weekend, negative prices) Data: EPEX 8
9
Reservation of XB capacity for intraday trading – a driver for increased intraday liquidity?  The gain is not high enough  Market participants will arbitrage between day-ahead and intraday and use the possibilities efficiently, without capacity being reserved for intraday  No rationale for reserving capacity for XB intraday trading, as long as arbitrage between segments and price areas is accepted. Source: NordPool 10
The obligation to be balanced at the day-ahead stage hinders free arbitrage and reduces efficiency … … 11
REMIT does not require nomination in a specific time frame FOS § 8 REMIT 12
How can we ensure well-functionning markets with the increasing share of renewables?  Harmonize the interpretation of REMIT  Re-calculate capacity and allocate it as early as possible  Harmonize products and gate closure times  Consider adjusting FOS § 8 to allow for arbitrage between segments. - It would increase market efficiency - reservation of XB capacity for the intraday market would be unnecessary 13
THANK YOU www.statkraft.com 14

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