WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 223
Market Data
Money Market Regulations
ENERGY IN
THE REGIONS
HOME
Market reform
FIGURE 10
Existing market designs across the world (2/4)
Key Existing Energy Market Design In Europe (1/2)
Key Insights
• The Capacity Market (CM) was introduced by the UK Government to manage security of electricity supply and safeguard against
the possibility of future blackouts
• There are two annual capacity auctions:
T-4 Auction: The main auction held four years in advance, securing most of the needed capacity and allowing new generators to
obtain 15-year agreements.
T-1 Auction: Top-up auctions just before each delivery year, used for sites not ready for the T-4 auction. Most businesses aim to
participate in T-4 for better prices
Country/Region
UK
Energy-Only
Note: It is a Mechanism
Energy-Only
Operador del Mercado
Ibérico de Energía (OMIE)
• OMIE is the nominated electricity market operator (NEMO) for managing the Iberian Peninsula’s day-ahead and intraday
electricity markets
• It actively participates in connecting wholesale electricity markets in the EU, along with all of the NEMOs nominated in each
member state
Energy-Only
Nord Pool
• The day-ahead market at Nord Pool is an auction-based exchange for electricity to be delivered physically
• Nord Pool publishes a price for each hour of the coming day in order to help balance supply and demand
Energy-Only
Gestore dei Mercati
Energetici SpA (GME)
• Gestore dei Mercati Energetici SpA (GME) is responsible for the organization and economic management of the electricity
market, according to criteria of neutrality, transparency, objectivity and competition between producers and which also ensures
the economic management of adequate availability of the power reserve
• GME operates Italian power, gas and environmental markets and it has been nominated Nominated Electricity Market Operator
(NEMO) for the day ahead and intraday markets in Italy following the approval of the EU Regulation 1222/2015 (CACM)
Italy
Capacity
Market
Note: It is a Mechanism
• Poland has introduced market wide and technologically neutral capacity market based on capacity auctions. Mechanism has been
approved in the EC decision “State aid No. SA.46100 (2017/N) – Poland – Planned Polish capacity mechanism”
• The Polish capacity market is open for all electricity generation technologies including DSR and energy storage. Energy storage is
treated as a generating unit, so it can participate in the capacity market as a physical generating unit or a part of DSR unit (part of
an end user’s installation).
Poland
Source: Nord Pool, OMIE
Spain
Nordics & Baltics
WEMO 2024
Operators
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Market Design
