SESSION 1 PART 1: EUROPEAN MARKETS SITUATION

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2006 APEX Conference Seoul, 31th October 2006
SESSION 1 - PART 1 EUROPEAN MARKETS
SITUATION MARKET TRANSPARENCY SITUATION IN
EUROPE
Maria luisa Huidobro President CEO of OMEL
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INDICE

• Main issues related to the European Single
  Market.
• Towards a common standard on market transparency.
• EuroPEX view.
• Some examples of data published by Power
  Exchanges.

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Main issues related to the European Single Market
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MAIN ISSUES RELATED TO THE EUROPEAN SINGLE MARKET

• Second Directive on Internal Electricity Market
  to be fulfill for all Member States.
• Regional Markets and congestion management
• Regional prices in case of congestions
• Implicit auctions and explicit auctions
• Market coupling
• Towards a common standard on market transparency
• The problem of insufficient international
  interconnection between the European electric
  systems.

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Towards a common standard on market transparency.
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ERGEG PUBLIC CONSULTATIONON GUIDELINES OF GOOD
PRACTICE ONINFORMATION MANAGEMENT AND
TRANSPARENCY

• General requirements
• General principles
• Minimum level of transparency on Member States
• Confidentiality requirements
• Information management
• Governance
• Methodology
• Specific requirements regarding information
  transparency
• System load Control area load
• Transmission and access to interconnections
• Generation
• Imbalances
• Wholesale market information
• During the development phase of the guidelines
  ERGEG launched a public consultation over a draft

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EuroPEX POSITION REGARDING TRANSPARECNCY ON THE
EUROPEAN ELECTRICITY MARKETS

• EuroPEX shares ERGEGs vision that a correct
  management of the information and an adequate
  level of transparency improve the development of
  liquid, transparent and competitive electricity
  markets.
• ERGEG has accepted most of the EuroPEX comments
  made during the public consultation phase.
• When information is to be disclosed, it should be
  published, rather than being made available on
  request.
• The minimum set of information which is made
  available in a Member State or control area
  should not depend on the structure of its
  electricity sector, but should be made available
  according to the same minimum standards of detail
  in all Member States.
• The ex-ante information published should be
  compiled on the basis of objective criteria. The
  ex-post real values should also be published.
• The information relative to technical standards
  or constraints should be accompanied by the
  disclosure and transparency of the methodologies
  used to define them
• Effective information firewalls on vertically
  integrated utilities.
• Clear distinction between the roles of the
  information source and the information publisher.
• Similar transparency requirements should be
  applied to OTC transactions.
• The responsibility for disclosing information on
  electricity trading should rest, in the first
  instance, with the trading parties.
• The aggregated supply and demand curves, prices
  and volumes of the spot and intraday markets
  apply to auction based markets, for intraday
  continuous trading markets other requirements
  should apply.
• Prices and volumes information transparency on
  the OTC markets should be applied at the
  individual transaction level rather than
  aggregated for some products.

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EuroPEX view.
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EuroPEX VIEW
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EuroPEX VIEW
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EuroPEX VIEW
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EuroPEX VIEW
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EuroPEX VIEW
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Some examples of data published by Power
Exchanges.
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Net production in EEX
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Elspot Trading Capacities in Nord PoolPeriod
27.10.2006
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Financial Market in Nord Pooland Cleared OTC
volumes
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APX NL Day Ahead Market Supply and demand curves
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Daily market in OMELSupply and demand curves
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Daily power by technologies in OMEL
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Future Settlement Price in OMIP
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Day-Ahead Market in GME27/10/2006
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