The future of power generation

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The future of Greek Gas and Power Markets
Looking ahead with optimism and realism
«The future of power generation»
Dinos Benroubi
Executive Director – General Manager
29th April 2014
Company Information
• Protergia is 100% subsidiary of MYTILINEOS Holdings and
is the holding company of the Group’s power division.
• Protergia is the largest independent (private) power producer
in Greece, being the owner and/or operator of a balanced
portfolio of thermal (1,2 GW) and renewable plants with an
asset value of 1 billion euros.
• Protergia trades electricity on international platforms as well
as physically through cross border trading.
• Protergia recently entered the retail electricity market.
3
Protergia Group
PROTERGIA SA
100%
ALUMINIUM S.A.
334 MW CHP
Management Only
PROTERGIA
AGIOS NIKOLAOS SA
444 MW CCGT
65%
KORINTHOS POWER S.A.
437 MW CCGT
RES Subsidiaries
•54 MW in operation
•52 MW (wind farms)
construction
•700 MW
development
under
under
4
Energy Complex of Ag. Nikolaos
5
KORINTHOS POWER – CCGT (Ag. Theodoroi)
6
The future of Greek Gas and Power Markets:
Looking ahead with optimism and realism
The future of power generation
• Future of gas to power
• Liberalization Progress
7
Gas’ role in the Greek electricity system:
Gas remains a basic fuel for power generation
Jan-Apr 2014 - SCADA
Jan-Apr 2013 - SCADA
Exhausted capabilities?
Future
Yearly variability
Future
20% of total System needs
Future
?
Maximum usage of
Interconnection Capacity
Future ?
Future
8
Gas’ role in the Greek electricity system:
The example of February 2014
9
Gas’ role in the Greek electricity system:
Generation adequacy Study prepared by ENTSO-E
10
Gas’ role in the Greek electricity system:
Load following through ramping capability
Interconnected System’s net load, 14.03.2014
Ramp Down
2 GW
Ramp Up
Ramp Up
1,0 GW
Ramp Down
3 GW
4hours
1,5 GW
2hours 4hours
5hours
11
Current VS Intended situation
of the Greek electricity market
Asymmetry
12
Transforming optimism to realism:
Restructuring of the Greek electricity market
Ministerial Council’s Act, July 2013
• Small PPC
• Strategic investor in PPC
• TSO’s ownership unbundling
RAE’s roadmap, November 2012
Transitory Measures
• Modification of wholesale market rules
• NOME type products
(third party access to lignite energy)
Long Term Permanent Status
• Adaptation to EU’s target model
13
Modification of wholesale market rules
To be elaborated and defined by the Regulator ensuring
short, medium and long term capacity adequacy
and response to peak demand
in a cost effective way and
in compliance with relevant EU guidelines.
14
NOME-type procedures
• NOME-type procedures aim at opening the retail market.
• No impact on power plants’ financials.
• NOME-type procedures shall ensure third-party access
to energy produced by lignite-fired plants
owned and operated by PPC and not directly to the plants.
• NOME is a transitional measure to be abolished
by the time small PPC is transferred to third party ownership.
15
Small PPC
Recent Draft Law for selling 30% of PPC
• In principle, positive move, towards real energy market liberalization.
• Should aim to create symmetric competition in generation, leading
to long term competition in retail and lower prices to the consumer.
Issues TBD:
• Inclusion of PPC’s lowest efficiency CCGT in the package
• Forced transfer of consumers instead of
voluntary - competition driven - change of supplier
 (should already be realized through NOME if successfully designed)
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Thank you!
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