Allocation of Capacity in Portugal
Under the New Regulation
24th IG meeting S-GRI, Madrid
September 23, 2013
Index
Main changes
New Regulatory Framework
Capacity Managment
Next Steps
Main changes
What has changed with the new regulation on Access to Gas Infrastructures?
5 Major changes
•
Shippers must buy capacity rights to
use the transmission system
•
Capacity
allocation
calendar,
standardization of products, allocation
through auction, etc.
•
Shippers pay according to allocated
capacity, instead of used capacity, at
all entry/exit points (except LDC)
Capacity allocation via booking platform
(Primary Market)
•
Improves interaction between primary
and secondary market, while enabling
daily auctions
Promotion of the secondary market for capacity
rights trading
•
Enhances
liquidity,
contractual congestion
Assignment of capacity rights by the TSO for MT
and ST products
Convergence towards CAM NC rules
Ex-ante payment of capacity rights
avoiding
The new Regulation sets a complete new standard for capacity booking and trading,
promoting convergence with CAM NC and
enabling the implementation of secondary market
Index
Main changes
New Regulatory Framework
Capacity Managment
Next Steps
New Regulatory Framework
Changes within the scope of Regulatory documents
Relevant regulatory documents that govern the capacity allocation process:
Main
activities
Programming /
Nomination
Daily Operation /
System Management
MAC, MEDC, MRC
(per infrastructure)
Before
Assignment of
Capacity Rights
MPAI
After
•
•
•
•
•
Product definition
Auction rules
Cap. Allocation
Invoicing
Credit Risk Mgmt.
• Cap. Calculation
• Cap. Programming
• Congestion Mgmt.
MPGTG
•
•
•
•
System Operation
Commercial Margins
Imbalances
Penalties
MPGTG
• Combines former contents with nomination rules
• Includes provisions on Secondary Market
NOTE: MPAI (Infrastructure’s Access Procedures Manual) – New regulatory document, encompasses former 8 documents
governing cap. calculation (MEDC), cap. allocation (MAC), congestion management (MRC) and Strategic Reserves storages
Index
Main changes
New Regulatory Framework
Capacity Managment
Next Steps
Capacity Management
A major change in the capacity management chain
Until 30th September, 2013
Available
capacity is
published
Commercial Mgmt. (TSO)
Programming
/ Nominating
‘Allocation’
Utilization
Payment due
for used
capacity
Gas Day
After Gas Day
Global System Manager
Before Gas Day
As from 1st October, 2013
Commercial Mgmt. (TSO)
Available
Products
Capacity
allocation
(auctions)
Payment due
for contracted
capacity
Capacity
contracting
Shippers
Forecasts/
Nomination
Utilization
Global System Manager
Capacity Management
Standard Products offered
Products \
Maturity
Storage of LNG
Underground
storage
Physical IPs (*)
Regasification at
LNG terminal
Daily
Daily
(week-ahead)
(day-ahead)
x
x
x
x
x
x
x
x
Yearly
Quarterly
Monthly
x
x
x
x
x
x
x
x
x
x
Backhaul at LNG
terminal
x
UGS injection
x
x
UGS withdrawal
x
x
(*) only for unbundled capacity at Valença do Minho and Campo Maior (outside the VIP)
Capacity Management
Calendar for 2013 and beyond
(VIP)
Y and Q
Capacity
Auctions
2013/
2014
Jun/Jul
Governing
Reg.
2014/
…
(VIP)
M and D
Cap. Allocation
(FCFS)
Yearly
Capacity
Products
*
As from Jul 31.Jul-06.Sep
Yearly
Consumpt
Forecast
Quarterly
Capacity
Products
*
Monthly
Capacity
Products
*
3.Sep
06–13.Sep
13 - 20.Sep
MPAI
Mar
Yearly
Capacity
Auctions
Jun
Quarterly
Capacity
Auctions
Y and M
Utilization
Forecast
23.Sep
MPGTG
As from Sep
Rolling
Monthly
Capacity
Auctions
3.Sep
Yearly
Consumption
Forecast
16 - 23.Sep
Yearly and
Monthly
Utilization
Forecast
* This activity includes the publication of available capacity, the auction and the final allocation of capacity to shippers
Rolling DayAhead
Capacity
Auctions
30.Sep 2013 30.Sep 2014
Daily
Capacity
(Re)-Nomination
30.Sep 2014 30.Sep …
Rolling DayAhead
Capacity
Auctions
Capacity Management
Changes on Shipper / TSO interaction
Activity
Publication of Available
Capacity
Concerned Entity / Means
TSO / @IGN REN’s Platform
Capacity Bidding
Shipper / Form (e-mail to OMIP)
Annual Consumption
Forecast
Shipper / Form (e-mail to GSM)
Announcement of
Congestion
TSO / @IGN REN’s Platform
Preliminary Auction Results
REN via OMIP / OMIPlus
Registration of Allocated
Capacity
REN via OMIP / OMIClear
Utilization Forecast/
Nomination
TSO / @IGN REN’s Platform
Index
Main changes
New Regulatory Framework
Capacity Managment
Next Steps
Next steps
Provisions to complete the regulatory framework
• Revision of general terms of capacity contracts
• Revision of the main operational procedures’ manual – MPGTG
• Definition and implementation of CMP rules
• Further harmonization (Gas Day, nomination schedules, etc.)
Thank you for your attention!
24th IG meeting S-GRI, Madrid
September 23, 2013