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Status Update - England & Wales

Status Update - England & Wales. Retail competition began rollout in September - profiling based settlement - 14 month final reconciliation - “Retailer-hub” commercial framework Major review of market initiated by government

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Status Update - England & Wales

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  1. Status Update - England & Wales • Retail competition began rollout in September - profiling based settlement - 14 month final reconciliation - “Retailer-hub” commercial framework • Major review of market initiated by government - bilateral contract based trading arrangements - centralised control - 2 year £500 million programme to implement

  2. Key Issues - England & Wales • Form of new Trading Arrangements - especially balancing market • Demonstration / evaluation of benefits - key concerns regarding liquidity, transparency, security of supply • Governance of new market - central control via NGC • Vertical integration

  3. Parallel Markets Forwards and Futures Settlement Day Ahead Auction Settlement Residual Settlements Short term Bilateral Market Settlement Balancing Market Settlement Ancillary Services Capacity Options?

  4. Trading Electricity - Today Delivery Risk Management Spot Market Settlement Despatch Transmission Special Issues Liquidity Timing (generator flexibility) Real time balancing Shared, constrained capacity Mutual risk of disconnection 14 month reconciliation Bilateral contracts: EFAs, CfDs Pooling and Settlement Agreement (the “Pool”) Today NGC licence

  5. Trading Electricity - Proposed Delivery Risk Management Spot Market Settlement Despatch Transmission Special Issues Liquidity Timing (generator flexibility) Real time balancing Shared, constrained capacity Mutual risk of disconnection 14 month reconciliation Forwards, Futures RETA Balancing and Settlement Code/NGC licence Short Term Bilateral market

  6. Proposed Governance Implementation Enduring OFFER / DTI OFFER Development and Implementation Steering Group Balancing and Settlement Code Panel NGC Service Providers Expert Groups • Balancing and Settlement Code • - advice from Panel • - authority via NGC licence • NGC breakup? • Informal structure • Reliance on NGC and other providers

  7. Vertical Integration 49.5% 42% 11.5%

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