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The new balancing regime – Workshop with Users New features in SRG and STG systems

The new balancing regime – Workshop with Users New features in SRG and STG systems. Workshop 20 September 2011. Agenda. Welcome New flows and functionalities for the User Access to the Balancing Service Transportation programs and Balancing Billing Next steps Blank Tests Systems Tests

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The new balancing regime – Workshop with Users New features in SRG and STG systems

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  1. The new balancing regime – Workshop with Users New features in SRG and STG systems Workshop 20 September 2011

  2. Agenda Welcome New flows and functionalities for the User Access to the Balancing Service Transportation programs and Balancing Billing Next steps Blank Tests Systems Tests Works closing

  3. Agenda Welcome New flows and functionalities for the User Access to the Balancing Service Transportation programs and Balancing Billing Next steps Blank Tests System Tests Works closing

  4. Access to the new balancing system(1 of 2) The “Enabled User” is the User of storage and transportation services that owns flexibility resources for balancing purposes and shall be required to contribute, using its own resources, to the balancing of the system; the access requirements are as follows: Holder of a valid and effective transport contract; Holder of a storage contract for the modulation service, the hydrocarbon service or Legislative Decree 130/10 service (not required for balancing users); To be authorised for access to the Virtual Trading Point; Holder of ratings and/or guarantees in compliance with the provisions of the Network Code.

  5. SRG checks the requirements for access to the balancing system in order to prepare the list of Users which shall contribute (holders of storage contracts) and the list of the balancing Users (all network Users); to this end: It determines the System's potential exposure of each user (EPSu); It determines the maximum potential exposure in relation to the guarantees given by the User (MEPSu); It manages the system of guarantees to cover the System's exposure of the User; It compares the EPSu and MEPSu of each User; It takes the necessary measures if the System is overexposed to the User. Access to the new balancing system(2 of 2)

  6. Calculation of the system's potential exposure to the User (EPSu)(1 of 5) • The EPSu or potential exposure of the System to the User is the potential debt, calculated on a daily basis, of the User with reference to the balancing service. • The EPSu is the sum of the following components: • Pfatt: due amounts billed and still not paid by the User; • Pdet: provisional due amounts calculated and still not billed to the User; • Patt: potential due amounts that may arise for the User in the three months following the valuation.

  7. Calculation of the system's potential exposure to the User (EPSu)(2 of 5) • Pfatt is composed of bills and credit notes, receivable and payable, relating to the economic items calculated on the PB-Gas platform and to imbalances of Users of the balancing service. • These economic items are a result of the calculation of the EPSu once they have been paid or reached maturity. • Pdet is the sum of economic items still not billed, determined on the basis of the most up-to-date transport balance; they are a sum of the following components: • Economic amounts receivable and payable relating to transactions completed on the PB-Gas platform by the User authorised by SRG and valued at the remuneration price; • Economic amounts receivable and payable relating to imbalances of the balancing User and valued at the imbalance price.

  8. Calculation of the system's potential exposure to the User (EPSu)(3 of 5) Patt is the potential due amount calculated as sum of the following components: • Transactions recorded at the Virtual Trading Point; • The cumulated imbalance the User may reach in the three months following the valuation, calculated using an expected withdrawal estimate. The aforementioned terms are assessed in the assumption of input by the User equal to zero and are valued at the estimated imbalance price. In order to estimate the expected withdrawal of the User, the calculation criteria will take into consideration the capacities assigned to both the entry and redelivery points appropriately re-proportioned on the basis of the average load factors of such capacities.

  9. Calculation of the system's potential exposure to the User (EPSu)(4 of 5) Level 1 EPSu • Users of the Capacity Portal will have the opportunity to check the components of their EPSu in real time in more detail.

  10. Calculation of the system's potential exposure to the User (EPSu)(5 of 5) Level 2 EPSu

  11. Calculation of the maximum potential exposure of the system to the User (MEPSu) (1 of 6) • The MEPSu or maximum potential exposure of the System to the User corresponds to the maximum acceptable EPSu value, calculated on the basis of the following components: • Gmin is the guarantee the User is required to present in order to access the balancing service; • G are the guarantees actually presented in the form of security deposits, bank guarantees, rating certifications and guarantees in gas held in storage; • C are the expired invoices and not paid yet relating to the balancing service.

  12. The following types of guarantee may be presented: Security deposit: the associated amount may be used to fully cover the guarantee the User is required to present; Bank guarantee:the associated amount may be used to fully cover the guarantee the User is required to present; Parent Company letter of guarantee:the associated amount may be used to fully cover the guarantee the User is required to present; Credit rating: possession of a minimum credit rating required by the Network Code covers X% of the value of the guarantee the User is required to present; Gas in stock at one or more Storage Companies. Calculation of the maximum potential exposure of the system to the User (MEPSu) (2 of 6)

  13. The adjustment of the amount of the guarantee given must be carried out on the basis of the following timescales: Calculation of the maximum potential exposure of the system to the User (MEPSu) (3 of 6) Determination of the Guarantee to be presented Guarantee G validity term 30 September (End of Gas Year) Day X of month M -1 31 March of next Gas Year M M-1 M+1 Last day of month M -1 End of last adjustment of guarantee G

  14. Calculation of the maximum potential exposure of the system to the User (MEPSu) (4 of 6) • Users of the Capacity Portal will have the opportunity to check the components of theirMEPSu in real time in more detail. Level 1 MEPSu

  15. Calculation of the maximum potential exposure of the system to the User (MEPSu) (5 of 6) Level 2 MEPSu

  16. Calculation of the maximum potential exposure of the system to the User (MEPS) (6 of 6) Warning and Blocking Messages

  17. Balancing Operator Actions in the event of the system's overexposure to the User (1 of 2) • In order to limit the risks related to the potential exposure of the System to the Users, on each gas day the conditions which compare the EPSu and the MEPSu must be observed; • SRG, as Balancing Operator, calculates and communicates to GME on a daily basis the economic limit of the purchase offers that the User can formulate on the PB-Gas platform.

  18. Balancing Operator Actions in the event of the system's overexposure to the User (2 of 2) • The Balancing Operator monitors the relative operational economic margins for each balancing user on a daily basis. • Based on the level of potential exposure EPSu with respect to the maximum potential exposure MEPSu: • The Capacity Portal displays to theUser a warning/blocking message; • SRG sends a written notification to the User (and also to GME and Storage Companies); • SRG blocks, with immediate effect, the operations of the User in relation to capacity bookings and selling transactions on the Virtual Trading Point.

  19. Agenda Welcome New flows and functionalities for the User Access to the Balancing Service Transportation programs and Balancing Billing Next steps Blank Tests System Tests Works closing

  20. Transportation programs and BalancingIntroduction In order to ensure the daily balancing of the system, Enabled Users are required to make their storage resources available to the Balancing Operator. The process defining the transportation programs in the new system will be characterised by: Publication of Estimates on gas day G to provide an overview of the system status; Renomination on gas day G to allow User to rebalance its input and withdrawal quantities; Bids on gas day G aimed at making the storage resources available to the system. During the Allocation and Balance phase, Enabled Users will be supplied with the outcomes of their balancing actions implemented during the transportation programs phase. The balancing process in the new system will be characterised by: Bids Accepted, provided on gas day G+1, that has been selected to balance the system; Position in Storage which is determined as final on gas day G+1; Value of Imbalances (whose coverage is no longer ensured through its storage resources), provided as definitive in gas month M+1 and M+3 .

  21. Gas Day G-1Activity Deadline Transmission system Operator Deadline for transactions at Virtual Trading Point Nomination deadline Nomination Confirmation Re-nominations 12:00 13:00 17:00 19:00 User 12:00 13:00 17:00 Deadline for gas sales on the STS system Nomination deadline Nomination Confirmation Storage Company

  22. Gas Day G-1Flows and Operations Transmission system Operator 12:00 13:00 17:00 19:00 Nomination Confirmation Transactions at Virtual Trading Point Re-nominations Nomination Communication User Gas transfers to Storage Nomination Communication Nomination Confirmation 12:00 13:00 17:00 Storage Company

  23. Reservation for storage The reservation for storage will be assessed on the basis of: • available capacities, including the interruptible capacities assigned, • treatment/compression consumptions, • available stocks/space at the time, • any strategic gas subject to prior authorisation by the MSE (Ministry of Economic Development), • any gas released by the user under guarantee to the Balancing Operator. In the event the reservation exceeds the User's availability, Storage Companies will modify the reservation, assigning a value equal to maximum availability. . Confirmed quantities will be checked again by the Storage Company on gas day G, as a result of the availability of stock data updated at the end of Gas Day G -1 Gas Day G-1Variations with respect to AS-IS Transmission system Operator 12:00 13:00 17:00 19:00 Nomination Confirmation Transactions at Virtual Trading Point Re-nomination Nomination Communication User Gas transfers to Storage Nomination Communication Nomination Confirmation 12:00 13:00 17:00 Storage Company

  24. Transportation Reservation In the event of an inconsistency between the transportation programs at storage hubs and the programme sent to the Transporter by the Storage Company, the reservation at said points will be modified, incorporating the data of the storage company. In response to cuts/inconsistencies in the reservations, the Transporter will modify the transportation programs of the User Redelivery Points, reproportioning unbalanced quantities at said points. Gas Day G-1Variations with respect to AS-IS Transmission system Operator 12:00 13:00 17:00 19:00 Nomination Confirmation Transactions at Trading Exchange Point Re-nominations Nomination Communication User Gas transfers to Storage Nomination Communication Nomination Confirmation 12:00 13:00 17:00 Storage Company

  25. Gas Day GActivity Deadline GME Transmission system Operator Transactions at Virtual Trading Point Deadline End of Balancing Session Offers Balancing Operator 16:30 20:00 Closing of Renomination 1st Publication of Estimates 2nd Publication of Estimates Re-nomination confirmation 19:00 14:00 16:00 17:00 User 17:00 19:00 Minimum and Maximum Limits Closing of Renomination 18:00 Re-nomination confirmation Storage Company

  26. Gas Day G Flows and Operations GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Operator 16:00 14:00 Transactions at Virtual Trading Point Transactions in the Virtual Exchange Point Re-nomination confirmation Reformulation confirmation 1st Publicationof Estimates 1stPublicationof Estimates Re-Nomination Balancing Session Offers 2nd Publication of Estimates 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-nomination confirmation 19:00 18:00 17:00 Storage Company

  27. Gas Day G Variations with respect to AS-IS Publication Obligations The Balancing Operator will publish the information required by resolution 45/11 on its website at 14.00, and will then update it at 16.00 GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Operator 16:00 14:00 Transactions at Virtual Trading Point Transactions in the Virtual Exchange Point Reformulation confirmation Re-nomination confirmation 1st Publicationof Estimates 1st Publicationof Estimates Balancing Session Offers Re-Nomination 2nd Publication of Estimates 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-nomination confirmation 19:00 18:00 17:00 Storage Company

  28. Gas Day GVariations with respect to AS-IS Reformulation of Transport Programme The reformulation of the transport programme can be performed by Users, limited to Storage hubs and Redelivery Points. In the event of an inconsistency between the reformulation at storage hubs and the reformulation of the programme sent to the Transporter by the Storage Company, the reservation at said points will be modified, incorporating the data of the storage company. If the reformulated programme, also as per the previous point, is not balanced, the Transporter amends the transportation programs of the User Redelivery Points, by reproportioning unbalanced quantities at said points. GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Operator 16:00 14:00 Transactions in the Virtual Exchange Point Transactions in the Virtual Exchange Point Re-Nomination confirmation Reformulation confirmation 1st Publicationof Estimates 1st Publicationof Estimates Balancing Session Offers Re-Nomination 2nd Publication of Estimates 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-Nomination confirmation 19:00 18:00 17:00 Storage Company

  29. Gas Day G Variations with respect to AS-IS Reformulation of Storage Reservation The reformulation of the storage reservation will be subject to the same restrictions described for the reservation on Gas Day G-1 Interruptible capacities subject to formulations/reformulations of storage reservations will be confirmed on Gas Day G. GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Operator 16:00 14:00 Transactions at Virtual Trading Point Transactions in the Virtual Exchange Point Re-Nomination confirmation Reformulation confirmation 1st Publicationof Estimates 1st Publicationof Estimates Balancing Session Offers Re-Nomination Reservation Reformulation 2nd Publication of Estimates 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-Nomination confirmation 19:00 18:00 17:00 Storage Company

  30. Gas Day G Variations with respect to AS-IS Offer Minimum and Maximum Limits The calculation, for users, of the Minimum and Maximum Limits for the Balancing Market bids to be sent to GME, is performed on the basis of: • Capacity, space and available stocks after the (re)formulation of the reservation, • Any gas released by the user under guarantee to the Balancing Operator • Estimated treatment/compression consumption. In the transitory period, SRG will provide an estimate of the accuracy of gas in stock to be used to calculate the Minimum and Maximum Limits. GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Operator 16:00 14:00 Transactions at Virtual Trading Point Transactions in the Virtual Exchange Point Re-Nomination confirmation Reformulation confirmation 1stPublicationof Estimates 1st Publicationof Estimates Balancing Session Offers Re-Nomination Reservation Reformulation 2nd Publication of Estimates 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-Nomination confirmation 19:00 18:00 17:00 Storage Company

  31. Gas Day G New functionalities 1stPublicationof Estimates 2nd Publication of Estimates GME Transmission system Operator 20:00 16:30 17:00 19:00 Balancing Manager 16:00 14:00 Transactions in the Virtual Exchange Point Transactions at Virtual Trading Point Re-Nomination confirmation Reformulation confirmation 1st Publicationof Estimates Balancing Session Offers Re-Nomination 2nd Publication of Estimates User Re-Nomination Offer Minimum and Maximum Limits Re-Nomination confirmation 19:00 18:00 17:00 Storage Company

  32. Gas Day G Publication of Estimates - SRG website EXPLANATORY EXPLANATORY By clicking on the reference month, it will be possible to display the relevant estimates in the format • SRG will public the estimates set forth in articles 6.4 and 6.5 of resolution 132/09 on its website: Home > Customers and Institutions > Gas Year 2010/2011 > Quantity of gas trasported

  33. Gas Day G Programme Reformulation - Altra Web EXPLANATORY • The Reformulation of the Transport Programme may be carried out • On Regional Networks both through Protocol X12 and using the ‘Nomination’ functionality of Altra Web • On the National Network through the new Renomination functionality of Altra Web

  34. Gas Day GReformulation Display - Altra Web • The Reformulation of the Transport Programme may be displayed through a new report accessible from the new Altra Web menu item 'Display Renomination' EXPLANATORY

  35. Gas Day GReformulation of the reservation - Sampei • The Reformulation of the Storage Reservation may be performed through the new Sampei menu item “Inserimento Rinomine”

  36. Gas Day GReformulation display - Sampei • The Reformulation of the Storage Reservation may be performed through the new Sampei menu item “Interrogazione Rinomine”

  37. Gas Day G+1Activity Deadline Offers Accepted and Remuneration Price Provisional Balance 10:30 11:30 11:30 Allocations to storage Transmission system Operator GME User Storage Company

  38. Gas Day G+1Flows and Activities GME Transmission system Operator 10:30 11:30 Offers Accepted and Remuneration Price Provisional Balance User Allocations to Storage 11:30 Storage Company

  39. Gas Day G+1Variations with respect to AS-IS Provisional Balance Following the communication of bids accepted in the Balancing Market to cover the imbalances of Balancing Users, SRG will calculate the Provisional Balance of the User using the following equation: Ik + Sk + (TkPSV + TkGNL + TkM + TkPB) = Pk + GSk + DSk where • Sk= represents the quantity of gas input to/withdrawn from storage, obtained as the sum of quantities of gas planned for storage SNk and quantities of storage gas SMk selected in the Balancing Market to cover the Overall System Imbalance (SCS). • TkPB= represents the net balance of gas transactions concluded between the User and the Balancing Operator in the Balancing Market. • DSk= represents the imbalance of the User and constitutes the result of the balancing equation. GME Transmission system Operator 10:30 11:30 SRG calculates and sends to the GME the Overall System Deviation (SCS) Offers Accepted and Remuneration Price Provisional Balance User Allocations to Storage 11:30 Storage Company

  40. Gas Day G+1Variations with respect to AS-IS Storage Allocation The gas allocated to storage and stock of each User are calculated definitively in the report prepared on Gas Day G+1 GME Transmission system Operator 10:30 11:30 Offers Accepted and Remuneration Price Provisional Balance User Allocations to Storage 11:30 Storage Company

  41. Gas Day G+1New Functionalities GME Transmission system Operator 10:30 11:30 Offers Accepted and Remuneration Price Provisional Balance User Allocations to Storage 11:30 Storage Company

  42. Gas Day G+1 Provisional Balance - Altra Web In order to display the Provisional Balance, a specific report will be made available on Altra Web, which can be accessed by selecting the 'Provisional Balance' item in the 'Reporting' section. EXPLANATORY EXPLANATORY

  43. Gas Month M+1Activity Deadline Publication of Definitive Balance Within the 15th working day M+1 Transmission system Operator User Storage Company

  44. Gas Month M+1Flows and Operations Transmission system Operator Within the 15th working day M+1 Definitive Balance User Storage Company

  45. Gas Month M+1Variations with respect to AS-IS Definitive Balance • In the definitive balance, for each Balancing User, the imbalance that will determine the economic amount to be billed will be calculated Transmission system Operator Within the 15th working day M+1 Definitive Balance User Storage Company

  46. Gas Month M+1New Functionalities Transmission system Operator Within the 15th working day M+1 Definitive Balance User Storage Company

  47. Gas Month M+1 Definitive Balance - Altra Web In order to display the Definitive Balance, a specific report will be made available on Altra Web, which can be accessed by selecting the 'Definitive Balance' item in the 'Reporting' section. EXPLANATORY EXPLANATORY

  48. Gas Month M+3 Flows and operations Transmission system Operator M+3 Adjustment Balance User Storage Company

  49. Gas Month M+3 Variations with respect to AS-IS Reconciliation Balance In the reconciliation balance, for each Balancing User, the term of definitive imbalance that may determine an economic amount to be adjusted will be calculated Transmission system Operator M+3 Adjustment Balance User Storage Company

  50. Agenda Welcome New flows and functionalities for the User Access to the Balancing Service transportation programs and Balancing Billing Next steps Blank Tests System Tests Works closing

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