Decree of the Ministry of Industry and Trade No. 19 / 2002 Coll.
Decree of the Ministry of Industry and Trade establishing the method of organising the short-term electricity market
Valid
Effective from 18.01.2002
Text versions:
23.07.2004
18.01.2002
19
DECLARATION
Ministry of Industry and Trade
of 20 December 2001
laying down the arrangements for the organisation of the short-term electricity market
The Ministry of Industry and Trade provides, pursuant to § 98 (7) of Act No. 458 / 2000 Coll., on the Terms and Conditions of Business and on the Enforcement of State Administration in the Energy Sector and on the amendment of certain laws (hereinafter referred to as "the Act ') for the implementation of § 27 (7) of the Act:
Subject matter
This decree provides for a method of organising the short-term electricity market (hereinafter referred to as the "short-term market '). The short-term market is subject to the physical supply of electricity (active electricity) on the basis of the application of regulated access to the transmission system and distribution systems (" regulated access'). In the case of electricity trading, all time data are reported in valid summer or winter time.
Definition of terms
For the purposes of this decree:
(a) the short-term market - the electricity market organised by the market operator in accordance with the rules laid down and published by the market operator, which may be taken into account by the derogation entities;
(b) by a participant in the short-term market - the clearing entity participating in the short-term market under the short-term market access contract;
(c) the settlement entity (hereinafter referred to as the settlement entity) - the electricity market participant for which the market operator under the settlement contract (1) carries out the evaluation and settlement of the derogations and ensures their financial settlement;
(d) settlement agreement - contract concluded under special legislation, 1)
(e) short-term market access contract - a contract between a market operator and a participant in a short-term market on the basis of which transactions negotiated on that market and financial settlement are evaluated and settled by the short-term market participant,
(f) business hour - the basic period in which the offer for the sale of the contract quantity of electricity ("supply") or the demand for the purchase of the contract quantity of electricity ("demand") on the short-term market is contractually defined; the business hour is the basic time period for the assessment and settlement of transactions negotiated on the short-term market and begins at all times at the full hour;
(g) business day - 24 business hours of the day on which it is traded, except for the transition from winter to summer time and back; the date on which the transition to summer time takes place is a sequence of 23 business hours and 25 business hours for the date on which the transition to winter time takes place; the first business hour of the business day shall begin at 00.00 and end at 1.00,
(h) an assessment of the offers and demand submitted on the short-term market - the determination of the size of the agreed supply or the agreed purchase of each short-term market participant in MWh, differentiated to one decimal place and the determination of the clearing prices applicable for each trading hour separately; foreign exchanges are evaluated throughout the MWh;
(i) financial settlement of short-term transactions - making payments by short-term market participants and making payments to market participants for short-term transactions;
(j) the agreed quantity of electricity at the trading hour - fixed amount of electricity in MWh confirmed by the market operator by the market participant on the basis of an evaluation of the offers submitted and demand in the short market;
(k) the contracted supply of electricity (hereinafter referred to as "the contracted supply") - the sale of the contracted quantity of electricity in MWh by a participant in the short-term market in a given commercial hour; the agreed delivery is marked with a positive sign,
(l) agreed electricity consumption (hereinafter referred to as "negotiated electricity consumption") - purchase of the contracted quantity of electricity in MWh by a participant in the short-term market in a given commercial hour; the agreed take is marked with a negative sign,
(m) by payment for the negotiated short-term purchase in a given business hour - the sum of payments made by the participant in the short-term as a product of the clearing price of each purchase in CZK / MWh, valid for that business hour, and the size of such purchase in MWh,
(n) payment for the agreed supply on the short-term market in the given business hour - the sum of the payments of the participant of the short-term market determined as the product of the clearing price of each delivery in CZK / MWh, valid for the given business hour, and the size of that supply in MWh,
(o) settlement price - the price for a given business hour on the business day at which the electricity is accounted for in the context of the clearing of negotiated withdrawals and agreed deliveries on the short-term market by the market operator;
(p) settlement of transactions - determining the amount of payments made by short-term market participants for the agreed purchase and the amount of payments made to short-term market participants for the agreed supply.
Short-term market
(1) Short-term trade is carried out on the basis of a short-term market access contract which must include:
(a) identification of the short-term market participant;
(b) the conditions and manner in which tenders and requests are submitted;
(c) the method for determining the clearing price,
(d) the way in which payments are secured;
(e) the method of financial settlement and payment deadlines;
(f) trading limit.
(2) In the short-term market, electricity at a minimum of 1 MWh may be offered and demanded, with a distinction to one decimal place, in addition to supply and demand for imports and exports of electricity for each of the commercial hours.
(a) the following business day (hereinafter referred to as the "daily market"); or
(b) the following period of time within the business day (hereinafter referred to as the "intraday market").
(3) The supply or demand may include the time conditions set out in the short-term market access contract.
(4) The results of the transactions referred to in paragraph 2 shall be the determination of the agreed deliveries and the agreed withdrawals and clearing prices for each trading hour of each short-term market participant.
(5) The financial settlement of transactions arising under paragraph 4 shall be independent of the actual values of the electricity supply to the electricity system and the actual values of the electricity withdrawals from the electricity system of the short-term market participants.
(6) The demand submitted by a short-term market participant in the short-term market implies an obligation to remove the electricity demand for a given trading hour from the short-term market participant at a given time if this demand is met.
(7) A tender submitted by a short-term market participant on the short-term market implies an undertaking that the quantity of electricity offered for a given commercial hour will be delivered by the short-term market participant to the electricity system within a given time period if this tender is satisfied.
(8) All short-term business is anonymous to each other. Offers and demand for imports and exports are marked.
(9) Offers and requests for foreign exchange are submitted to the short-term market only after confirmation by the transmission system operator of the allocation of the relevant transmission capacity for these transactions on the following business day.
(10) The place of supply and the place of collection of electricity traded on the short-term market shall be the electricity system.
Daily market
(1) Demand and supply on the day-ahead market may be made every day from 7 a.m. to 11 p.m. The time of 11.30 hours is the moment when the day-ahead supply and demand end.
(2) Within 11.45 hours of the day preceding the business day, the market operator shall be drawn up by the bidding and demand curve for each trading hour. On the basis of the evaluation of these curves, the resulting settlement prices for electricity and the relevant traded quantities of electricity for the trading hour shall be determined, the settlement price for electricity at the trading hour being the same for all transactions made at that trading hour.
(3) The market operator shall, by 11.45 on the day preceding the trading day, enter into its information system data on the contracted amounts of electricity of individual participants in the day-ahead market after each business hour, including data on participants in the day-ahead market.
(4) By 13.00 on the day preceding the trading day, the market operator shall notify each participant of the short-term market in the manner specified in the short-term market access contract of the results of the evaluation of the offers submitted and the daily market demand for each trading hour.
(a) the size of the agreed delivery and the size of the agreed purchase in MWh on the daily market;
b) settlement price from the daily market in CZK / MWh.
(5) Within 13.30 hours of the day preceding the trading day, the market operator shall be published on the market operator's website, the supply and demand curves, the amount of electricity from the underlying transactions, the clearing price of electricity for each trading hour, the amount of electricity from unexecuted bids and demand, the number of successful and unsuccessful bids received and the number of successful and unsuccessful bids received. The published data shall not contain information on individual participants in the daily market.
(6) Following the assessment of the offers submitted and the demand on the day-ahead market, the agreed deliveries and the agreed purchases for the relevant business hours are included by the market operator in the market operator's market deviation assessment system.1)
Intraday market
(1) The intraday market is organised for hours within the business day. For a given business day, at 16.00 hours preceding the business day, the intraday market shall be open for all hours of that business day and shall be capable of entering and accepting supply or electricity supply bids.
(2) The intraday market shall be closed gradually after each hour, the closing time of supply bids or electricity purchases for each business hour being 3 hours before the business hour.
Evaluation of offers and demand
(1) An evaluation of offers and requests, respecting the conditions of the short-term market participants, is carried out for each hour of the business day. The evaluation shall result in the determination of the clearing prices which are those applicable for the settlement of the commercial obligation relationship and the volume of electricity traded for each hour of the business day.
(2) The method of determining the clearing prices for each business hour results from the short-term market access contract and the settlement contract.
(3) The method of reducing the summary of offers or the summary of requests where the full summary of bids or the summary of requests at the clearing price cannot be satisfied is set out in the short-term market access contract.
Settlement and financial settlement of short-term transactions
(1) Each business day shall be notified by the market operator, within 14.00 hours, to each participant of the short-term market in the manner specified in the short-term market access contract for the previous business day in CZK and for each business hour preceding the business day.
(a) the size of the agreed delivery and the size of the agreed purchase in MWh, differentiated to one decimal place, broken down into the daily market and the intraday market;
b) settlement prices from the day market and settlement prices reached on the intraday market in CZK / MWh,
c) payments for the agreed purchase in CZK and payments for the agreed delivery in CZK broken down into the daily market and the intraday market.
(2) The total daily payment by a short-term market participant shall be determined as the sum of the payments for its agreed withdrawals at each trading hour and the sum of the payments for its agreed deliveries at each trading hour of that business day, both on the day-ahead and intraday markets.
(3) On the basis of the settlement, each participant in the short-term market shall be notified by the market operator within 14.00 hours of the financial settlement for the preceding business day under the short-term market access contract.
(4) The frequency of the issuing of the tax document by which short-term market operators are invoiced to market participants is laid down in the short-term market access contract.
(5) In the event that a short-term market participant fails to pay its due commitments to the market operator within the maturity period, the amount of its security provided to the market operator at an amount corresponding to outstanding commitments and potential extra costs shall be used in the manner set out in the short-term market access contract.
(6) The list of short-term market participants shall be updated daily and published by the market operator.
Efficacy
This decree shall take effect on the day of its publication.
Minister:
Doc.
1) Decree No 373 / 2001 Coll., laying down the rules for the organisation of the electricity market and the principles for pricing the activities of the market operator.
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Regulation Information
| Citation | Decree of the Ministry of Industry and Trade No. 19 / 2002 Coll., establishing the method of organising the short-term electricity market |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 18.01.2002 |
|---|---|
| Effective from | 18.01.2002 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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