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					Power Exchanges in the extended EU
 The experience in Czech Republic

     APEx Conference 2004
     October 11th, 2004 - Leipzig

         Miroslav Marvan
   Operator trhu s elektrinou, a.s.
         Czech Power Industry in 2003


  Total Consumption               55 TWh
  Export                          16 TWh
  Import                           4 TWh
   Net Generation                 83 TWh
  incl. Thermal PPs               53 TWh
         Nuclear PPs              26 TWh

  Maximum Peak Load              11 163 MW



Page 2
          Main Market Participants

            Share of generation   Share of electricity supply
                                        (distribution)


ČEZ                 70 %                  66 %
EON                                       24 %
PRE                                       10 %

  There exists one dominant generator with crucial share
  of generation and distribution as well.


Page 3
         Opening the Electricity Market
            in the Czech Republic


   Wholesale electricity market completely opened
   At present retail market is opening step by step
   Today the electricity market is opened for all generators,
    traders and end consumers with continuous measurement
    and remote data transport
   From 1.1.2005 the market is opened for all end consumers
    with exception of residential sector – implementation
    of load profiles


Page 4
         Model of Czech Electricity Market


                   BRE1                                                 BRE2


                                             OTE          TSO

                           *
                          DSO1


                                                                    Bilateral contracts
                             *
                           DSO2                                     ccontractscontalou
                                                                    Contracted volumes
                                             BRE3
                                                                    vy
                                                                    Actual volumes
                                                                      volumesdnoty
                                                    BRE Balance Responsible Entities
                                                        - Subjects of settlement
                                                    DSO Distribution System Operator
                                                    TSO Transmission System Operator
                                                    OTE Electricity Market Operator
   *DSO can become a subject of settlement
Page 5
         Model of Czech Electricity Market



  A subject of settlement (BRE) - at present 30 in the Czech
  Republic - is a market participant with responsibility
  (financial) for a deviation

  Deviation is a difference between actual (measured) and
  contracted (traded) volume of electricity




Page 6
    Deviation of a subject of settlement



             Contracted                                           T
              volumes
                                                                  S
         B         p                   O           Actual

         R     d   i, k                T
                                                  volumes

                                                           s
                                                                  O
                                                                  /
         E    Deviations
                                       E               d   i, k
                                                                  D
                                                                  S
                    i, k                                         O



                     
                                         s        p
                            i ,k
                                    d i ,k  d i ,k

Page 7
             Electricity Market Operator


    Evaluates and settles deviations - every day for separate
     trading hours
    Receives contracted (traded) hourly volumes from
     subjects of settlement in a day D – 1 (by 16:00) and real
     (measured) volumes for every hour in a day D + 1 (by
     11:00) from TSO and DSOs
    Deviations are evaluated by financial costs necessary for
     activation of ancillary services (reserve power)
    Deviations are debeted to these subjects of settlement that
     caused deviations in separate trading hours
    Page 8
                   Further Activities
             of Electricity Market Operator


    Organizes day – ahead market – by very traditional way
    Organizes intra – day market; for separate trading hours;
     at present trading ends 3 hours before real time
    Organizes balancing market – with single buyer only –
     TSO
    Risk management of electricity market
    Administration of changes of suppliers
    In preparation: registration and settlement of „green
     electricity“ and CO2 emissions

    Page 9
          Reconciliation curves

          29 September 2004 – 23:00 – 24:00




Page 10
    Evaluation of Czech Electricity Market


   The electricity market in the Czech Republic started
    in 2002 without notable problems
   Trades of dominant generator ČEZ, a.s. have crucial
    importance for price – fixing process
   Low liquidity of organized electricity market - day – ahead
    and intra – day markets about 1 %
   Bilateral contracts represent predominated way of trading




Page 11
                        What next?


   It is impossible to increase liquidity of organized market
    and competition under existing conditions
   Strategy for improvement of electricity market
    with existence of dominant players:
      - creation of a regional market
      - first step – preparation of infrastructure of the market




Page 12
            Regional Electricity Market


   At present very popular idea
   Solution is concentrating on solution of cross – boarder
    flows which is insufficient
   The problem is more serious
            – the same rules for trading
            – the same rules for regulation
            – provision of reliability of electricity supply
   Primarily it is a political problem


Page 13
      Infrastructure of Electricity Market

   There have to exist an infrastructure independent
    on market players and dominant players especially
        - measurement and access to its results
        - settlement of deviations and their prices
        - administration of supplier (consumer) changes
        - trades in ancillary services
        - additional conditions that depend how the market
          was started (e.g. in the Czech Republic obligation
          for EMO to organize day – ahead market)


Page 14
                     Conclusion


  More information about the Czech electricity market –
  even in English - is available on web sites of OTE

                       www.ote-cr.cz

  including results of day - ahead market, intra – day market
  and balancing market and statistical data




Page 15

				
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