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SEM & Target Model Update

The FG CACM meeting held in London on September 30, 2011, focused on integrating the Single Electricity Market (SEM) into the European Union's Target Model, which aims to create a cohesive internal electricity market through price coupling and structured bids on power exchanges. The meeting discussed transitional arrangements, with compliance expected by 2016, and highlighted the challenges of aligning SEM's current framework with the broader EU design. Engagement with industry stakeholders and technical workshops were also part of the project plan to facilitate this integration.

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SEM & Target Model Update

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  1. SEM & Target Model Update 22nd FUI Implementation Group Meeting London, 30 September 2011

  2. FG CACM • FG CACM aims to create an internal market through price ‘coupling’ bids/offers submitted through power exchanges using available cross border capacity • SEM transition to target model acknowledged in Section 1.2 FG CACM: • transitional arrangements in place by 2014 • full compliance by 2016 • Network Codes to give legal effect to arrangements • SEM Project to address these issues has begun

  3. SEM and Delivery of EU integration • Integrating SEM in present form into EU target model is a significant challenge • Target model based on predominant European market design of bilateral self commitment markets with voluntary, organised day ahead and intra day trading thorough power exchanges • SEM is a gross mandatory pool with: • ex post pricing • centralised unit commitment and dispatch, based on complex bids from generators • explicit capacity payments

  4. Market Characteristics

  5. SEM Market Integration Project • Project Team Established • RA, MO and TSO members • Project plan published • Industry Engagement • Industry presentation in June (Ofgem and APX) • Bilateral meetings with market participants • Meetings with APX, OMEL, CNE and National Grid • Technical Workshop on 3rd October • Breakout sessions on key issues such as Day Ahead and Intra Day

  6. Key Issues • Transitional arrangements for 2014 (FG CACM 1.2) involve minimum change to SEM design, deliver benefits of integration at minimum cost • Possible day ahead coupling using contracts market as a transition • Evolution of intra day trading solution as a transition • Enduring arrangements for 2016, potentially new market design or extensive changes to SEM • Key issue currently under consideration by the project team • Other Framework Guidelines to be kept in mind • e.g. Balancing and System Operation

  7. Project Timetable

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