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Market Information on the capacity on the border between Germany and Netherlands - Additional yearly auction

On 30 November 2015 the yearly auction for the border Germany-Netherlands ended in which no capacity was offered for the direction from the Netherlands to Germany. However, TenneT TSO GmbH and the respective National Regulatory Authorities are aware of the fact that long term hedging instruments are of interest for market participants. For this reason, TenneT TSO GmbH on request and with consent from the regulators took additional steps in its current interpretation methodology of the capacity calculation outcomes of yearly capacities and is happy to announce that 400 MW can be offered in an additional yearly auction for the direction from the Netherlands to Germany.

The adaptation of the mentioned approach was jointly agreed between TenneT TSO GmbH and Bundesnetzagentur. Due to the new approach the capacity cannot be physically guaranteed for all hours of the year. In such emergency situations with a high wind in-feed in Northern Germany in combination with an outage of the lines Dörp-Meppen/Hanekenfähr or Meed-Zwolle the allocated capacities need to be curtailed for system security reasons. Such situations will be identified two days before delivery and communicated though the allocation office according to the existing procedures. Thus, capacity would be curtailed before the long term nomination deadline and market participants will receive compensation according to the Allocation Rules for Forward Capacity Allocation (EU HAR).

The additional auction for yearly capacities will take place on 14 December 2015. The monthly auction for the border Germany-Netherlands will be shifted from 16 December 2015 to 22 December in order to facilitate returns of yearly capacity to monthly capacity.

The measures mentioned above were discussed and agreed with the involved TSOs namely Amprion and TenneT TSO B.V. For questions or further information, please contact us.

Kind regards,

TenneT TSO B.V. and TenneT TSO GmbH

Market information regarding the postponement of the introduction of financial transmission rights on the German-Danish interconnectors and the interconnector between West and East Denmark

TenneT TSO GmbH, 50Hertz Transmission GmbH and Energinet.dk have been working for and aiming at changing the long term transmission rights from physical transmission rights (PTR) to financial transmission rights (FTR) on the German-Danish borders and the interconnector between West and East Denmark (Great belt).

Uncertainties under the current legal financial regime (MiFID I) have recently been raised by the Danish Financial Service Authority. The uncertainties are related to the financial license requirements for Energinet.dk and EMIR reporting obligation for both the TSOs and the market participants. It is unfortunately not possible to sort out these uncertainties before the yearly capacity auctions take place and therefore it has been agreed by the three TSOs to postpone the introduction of FTRs. The energy regulators concerned, Danish Energy Regulatory Authority and Bundesnetzagentur have taken note of this decision.

Energinet.dk, TenneT TSO GmbH and 50Hertz Transmission GmbH still see FTRs as a better solution for the market participants and all three TSOs are still committed to introduce FTRs. By 2017, the new financial regime (MiFID II) will come into force and all the current uncertainties are expected to be settled. Therefore the three TSOs are planning to implement FTRs for January 2017.

Energinet.dk acknowledges that the postponing of the introduction of FTRs is very unfortunate, especially with the market participants already being informed and implementation plans being published. Nevertheless for Energinet.dk the legal uncertainties are too substantial at the moment.

Until the implementation of FTRs, the current PTRs will continue to be offered on the German-Danish borders (DK1-DE and DK2-DE) and the Great Belt interconnector. Separate information on the long term PTR auctions for the borders DK1-DE and DK2-DE will be published soon.

For further questions please contact us.

Kind regards,
TenneT TSO GmbH
50Hertz Transmission GmbH and
Energinet.dk.

Market information: CHANGES regarding the Allocation of Transmission Rights in CWE region with delivery from 1st of January 2016 on (14.09.2015)

  Dear market participants,

In the context of an early implementation project of the European network code Forward Capacity Allocation, the European TSOs have drafted new harmonized allocation rules for Long-term Transmission Rights (LTRs), namely the European Harmonized Allocation Rules (EU HAR), that will be apply for all
Bidding Zone Borders in Europe. These EU HAR will apply, if approved by the relevant National Regulatory Authorities (NRAs), for all Long Term Transmission Rights (LTRs) with a delivery date from the 1st of January 2016 on. These EU HAR rules have reached the final stage before implementation, namely the approval phase of the EU HAR by the NRAs. The currently applicable CASC.EU Harmonized Auction Rules include the allocation rules for the LTR allocation as well as the fall-back for the day-ahead Multi Regional Coupling (MRC). Since this document will be replaced by the EU HAR for the allocation of LTRs, a separate document defining the allocation rules for the fall-back procedure if the MRC cannot take place, namely the Shadow Allocation Rules (SAR), is also being approved at the same time by NRAs. As such the CWE TSOs and the allocation platform allocating the LTRs on their behalf, namely JAO, would like to inform market parties that the approval of the EU HAR, the SAR and related changes in the national regulations (e.g. a change of the Dutch grid code) will introduce the following major changes:

  • Market parties that want to participate in auctions of LTRs or shadow auctions for the CWE borders need to deliver a new participation Agreement which will be published on the website of the Allocation Platform (i.e. JAO) in two (2) signed copies, together with all duly completed Information and documents required by the Allocation Platform at least 7 working days before the respective auctions of TRs take place with delivery from the 1st of January 2016 on and complete the registration process on time/before the Bidding Period closure;
  • The approval of the EU HAR by the relevant National Regulatory Authorities (NRAs) implies a product change for the Belgium-French and the Belgium-Dutch border. The LTRs that will be allocated on these Bidding Zone borders with delivery from 1st of January 2016 on will be in the form of Financial Transmission Rights Options (FTR Options) instead of Physical Transmission Rights Use-it-or-sell-it (PTRs UIOSI); As such from the 1st of January 2016 on it will be no longer possible for market parties to nominate LTRs for the Belgium-French and the Belgium-Dutch border.
  • Only one LTR auction with a yearly timeframe for the Belgium-Dutch border and the German-Dutch border will take place according to the proposed change of the Dutch grid code, if approved by the relevant NRA. Consequently, the first yearly LTR auctions, currently scheduled for 15 October 2015, will not take place.

Please note that the above mentioned changes are not the only consequences of the approval of the EU HAR and SAR. The CWE TSOs and JAO therefore advice the market participants that wants to acquire Transmission Rights on the CWE Bidding Zone borders to assess the consequences of the approval of
the EU HAR and SAR by reviewing the EU HAR, SAR and participation agreement.

For more information about the EU HAR see: https://www.entsoe.eu/major-projects/network-code-implementation/Harmonisation-of-Allocation-Rules/Pages/default.aspx
For more information about the SAR see: http://www.casc.eu/en/News--Events/Events/Market-consultation-on-new-Shadow-Allocation-Rules

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