BSP SouthPool News February 2014

BSP SouthPool

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The newsletter of the BSP Regional Energy Exchange No 1/2014

BSP's clearing operations BSP in 2013 New Members of BSP SouthPool are Energija Naturalis and GDF Suez Energia Holding Hungary Zrt.

Trading report for BSP Day-ahead market for January 2013 70 20.000

No transactions were submitted for clearing (OTC) in January 2014.

40 10.000

30 20

5.000 10 0

0 1

3

5

7

9

11

13

Transactions Volume

80,00

15

17 BASE Price

19

21

23

25

27

29

31

EURO-PEAK Price

Correlation between offered and allocated quantity of daily capacatiy on SI- IT border and difference between Base price on SI and IT market in Januar 2014

70,00

18.000 16.000 14.000

60,00 Price (EUR/MWh)

In the January 2014 the total trading volume reached 4.194 MWh. In the same period a total volume of 3.160 MWh was concluded with block products, 914 MWh with hourly products and 120 MWh with 15 minute products.

50

15.000

Price (EUR/MWh)

60

In January 2014 the total amount of offered daily capacity in the direction from Slovenia to Italy was 394.458 MWh. Through implicit allocation at BSP SouthPool, 382.449,245 MWh of offered capacities were allocated, representing a 96,96% utilization of daily available transmission capacity. In the direction from Italy to Slovenia the total amount of offered daily capacity was 495.620 MWh and 372 MWh were allocated.

Trading report for BSP Intraday market for January 2014

80

12.000 50,00 10.000 40,00 8.000

Volume (MWh)

The maximum daily volume in January 2014 reached 22.283 MWh on 15.01.2014, the average daily volume in this period reached 17.989,664 MWh. The maximum hourly volume in January 2014 reached 1.101 MWh on 08.01.2014 for the 21st hour, the average hourly volume reached 749,569 MWh.

Slovenian Market Auction Prices and Volumes Delivery Day: 01. 01. 2014 - 31. 01. 2014

25.000

Volume (MWh)

In January 2014 the Day–ahead trading volume at BSP SouthPool reached 557.679,574 MWh. The average monthly price for Base product was 43,08 Eur/MWh and for Euro-peak product 53,16 Eur/MWh. The total traded volume at BSP SouthPool in January represented 52,3% of Slovenian market consumption.

30,00 6.000 20,00

4.000

10,00

2.000

0,00

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 ELES > Terna Allocated Quantity

ELES > Terna Non - Allocated Quantity

SLO price

IT Nord price

1

BSP's clearing operations BSP acts as Clearing Counter Party for financial settlement and clearing, as all members of BSP Regional Energy Exchange LL C are also members of the BSP clearing system. Financial settlement is executed for the Slovenian market by BSP for Dayahead market two (D+2) business days and for Intraday market in five (D+5) business days. In addition to the financial settlement for the above mentioned market segments, clearing members are able to conclude direct (OTC) deals on trading platform and clear over the BSP clearing system. Following the market coupling activities, the BSP acts as Clearing Counter Party (CCP) between Slovenia and Italy, where financial settlement is concluded with Italian CCP, the Italian energy Exchange GME. Due to the nature of the market coupling mechanism, in addition to energy financial

transactions with export or import, BSP also allocates crossborder capacities, which means that BSP clears energy and congestion rent between Slovenia and Italy.

BSP cash flow

Cash flow (M€)

300

238,92 254,29

250 200 90,45

150 100 50 0 2011

2012 2013

Cash flow

BSP in 2013 Slovenian Intraday Market Volumes

Trading report: 30% growth of yearly volume on Day-ahead market segment

20.000 18.000 16.000 Volume (MWh)

In the year 2013 the total traded volume at BSP SouthPool on the Day-ahead market reached 5.754.885,079 MWh and on the Intraday market 83.985 MWh, which represent 47,5% of yearly Slovenian market consumption. The increase is largely a consequence of Market Coupling on the Slovenian-Italian border; more than 95% of daily available transfer capacities on this border were allocated. In the previous year 8 additional companies joined BSP and the total number of members increased to 46.

12.000 10.000 8.000 6.000 4.000 2.000 0

January 2013

February 2013

March 2013

April 2013

Block Volume

May 2013

June 2013

Hourly Volume

July 2013

August September October November December 2013 2013 2013 2013 2013

Fifteen minute Volume

Total Volume: 83.985 MWh Block Volume: 65.934 MWh Hourly Volume: 16.012 MWh Fifteen minute Volume: 2.039 MWh

Traded volume and its share of Slovenian consumption 7.000

14.000

50

40

Volume (GWh)

5.000

35 30

4.000

25 3.000

20 15

2.000

10 1.000

Share of Slovenian consumption (%)

45 6.000

BSP Traders Party took place at News Cafe in Portorož At the end of May 2013 BSP organized a Traders Party in Portorož, on the Slovenian coast. In the backdrop of events guests had the chance to talk in an informal setting and get to know each other on a more personal level.

5 0

2010

2011 Volume

2012

2013

Share of Slovenian consumption

Day-ahead trading - volume of entered orders and total trading volume in the Slovenian market 1200

Volume (GWh)

1000 800 600 400 200 0 January 2013 February March 2013 2013 April 2013

May 2013

June 2013

Trading Volume

July 2013

August 2013 September October 2013 2013

Buy Orders

Sell Orders

November December 2013 2013

0

Training courses and workshops organized by BSP SouthPool in 2013 In the year 2013 BSP organized 4 workshops. The Exchange trader training course was organized for participants from ELES, E3, Virtuse energija, Borzen and also for individual participants.

On these courses participants obtain knowledge about auctions and continuous trading, supply and demand modelling and information on usage trading platforms (Euro market and ComTrader). Participants also get a licence to trade at BSP SouthPool. The training course “Trading with electricity” which focused on basic information about trading with electricity was organized for 27 students at Faculty of electrical engineering in Ljubljana.

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BSP SouthPool

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Training courses and workshops in 2014

New Members of BSP SouthPool are Energija Naturalis and GDF Suez Energia Holding Energija Naturalis became 47th and GDF Suez Energia Holding 48th company group that entered into membership at BSP SouthPool.

Company Energija Naturalis will henceforth as 43rd and GDF Suez Energia Holding as 44th member actively participate on the Slovenian electricity Day-ahead and Intraday markets BSP regional energy exchange members are: Alpiq Energy, Axpo Trading, Borzen, Compagnie Nationale du Rhône, Dans Energy, Danske Commodities, Dufenergy Trading, Edelweiss, EDF Trading, Electrade, Elektro Slovenija, Edison Trading, Elektro Energija Celje, Elektro Energija, Energija Plus, E3, Elektro prodaja E.U., Enel Trading, Energi Danmark, Energija Naturalis, Energy Financing Team, ENOI Power, Europe Energy, EVN Trading South East Europe, Ezpada, Gala, Gazprom Marketing & Trading, GEN-I, GDF Suez Energia Holding Hungary, HEP Trgovina, Holding Slovenske elektrarne, Interenergo, JAS Energy Trading, MVM Partner, Neas Energy, Petrol energetika, Petrol, Repower Trading, RD CZ Energy, Statkraft Markets, TEI Deutschland, Energetika Ljubljana, Tradition Financial Services (TFS), Vattenfall Energy Trading, Verbund, Virtuse energija and Vitol Gas & Power.

The newsletter is published

by BSP Regional Energy Exchange LLC. Editor in Chief Anže Predovnik Completed in February 2014, No 1/2014 Address: BSP Regional Energy Exchange LLC, Dunajska 156, SI-1000 Ljubljana, Slovenia Telephone number: + 386 1 620 76 76 Fax number: + 386 1 620 76 77 Website: www.bsp-southpool.com E-mail: info@bsp-southpool.com Copyright © 2008 - 2014 – BSP d.o.o.

All rights reserved

In 2014 BSP SouthPool offers Training courses and Workshops for traders and other professionals who would like to obtain new knowledge. We have prepared, in the following section, outlines of the topics presented at the workshops, but we remain flexible to suit applicants' further inquiries.

Some of the most interesting workshops are: Exchange Trader Training Course – focusing on Day-ahead and intraday Markets, Trading Rules and Auction Trading.

Trainings courses will take place on the: 3rd April 2014 5th June 2014 4th September 2014 4th December 2014 SEE (South-Eastern European) Wholesale Electricity Markets Workshop– at this workshop participants get further insight into SEE Electricity markets, energy flows in the SEE region, establishment of balance responsibilities, scheduling systems in SEE countries, etc.

Tailor-made Workshop for Companies – this workshop is prepared for companies outside of the electricity industry, which would like to learn about trading, market structure, electricity prices and the ways in which electricity contracts are concluded.

All information about Training Courses and Workshop is available on our web page www.bsp-southpool.com.

BSP Regional Energy Exchange

Your energy choice.

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