Notes:
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In the European electricity market, trading of energy is processed in two distinct phases:<br/>An initial phase for the trading of the commodity itself, i.e. when traders, power exchanges, etc. are involved in commodity trading exchanging information on quantities of energy and prices;<br/>A second phase where the physical asp 540 ects of the trade are provided to the transmission system operator.<br/>This document deals specifically with the second phase that essentially addresses how much energy has been bought or sold or would be generated or consumed by each market participant. The energy amount is mainly expressed in MegaWatts (MW) for a given time period (hourly, half hourly or quarter of an hour). These specific energy declarations are termed “nominations”. The scheduling declaration process is used during this second phase.<br/>The European electricity market is based on the concept of regulated third party access where all the market participants shall provide their position for a given period that should generally be balanced depending on local market rules. The fundamental basis underlying these energy schedules is that, for a given market participant, the input quantities, i.e. the energy that is generated by its power stations or that is bought on the energy market (over the counter or power exchange), should be equal to the output quantities, i.e. the energy that is consumed by its consumers or that is sold on the energy market.<br/>
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