The future of Greek Gas and Power Markets Looking ahead with optimism and realism «The future of...
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Transcript of The future of Greek Gas and Power Markets Looking ahead with optimism and realism «The future of...
The future of Greek Gas and Power Markets Looking ahead with optimism and realism
«The future of power generation»
Dinos BenroubiExecutive Director – General Manager
29th April 2014
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• Protergia is the largest independent (private) power producer in Greece, being the owner and/or operator of a balanced portfolio of thermal (1,2 GW) and renewable plants with an asset value of 1 billion euros.
• Protergia trades electricity on international platforms as well as physically through cross border trading.
• Protergia recently entered the retail electricity market.
• Protergia is 100% subsidiary of MYTILINEOS Holdings and is the holding company of the Group’s power division.
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ALUMINIUM S.A.
334 MW CHP
Management Only
PROTERGIA AGIOS NIKOLAOS SA
444 MW CCGT
KORINTHOS POWER S.A.
437 MW CCGT
RES Subsidiaries •54 MW in operation
•52 MW (wind farms) under construction
•700 MW under development
100% 65%
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The future of power generation
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The future of Greek Gas and Power
Markets: Looking ahead with optimism and realism
• Future of gas to power
• Liberalization Progress
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Gas’ role in the Greek electricity system:
Gas remains a basic fuel for power generation
Exhausted capabilities?Future
Yearly variability
Future ?
20% of total System needsFuture
Future
Maximum usage of Interconnection Capacity
Future ?
Jan-Apr 2014 - SCADA
Jan-Apr 2013 - SCADA
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Gas’ role in the Greek electricity system: The example of February
2014
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Gas’ role in the Greek electricity system: Generation adequacy Study prepared by
ENTSO-E
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Gas’ role in the Greek electricity system: Load following through
ramping capabilityInterconnected System’s net load, 14.03.2014
Ramp Up
Ramp Up
Ramp Down
Ramp Down
5hours
3 GW
4hours
1,0 GW
2 GW
4hours
2hours
1,5 GW
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Current VS Intended situation of the Greek
electricity market
Asymmetry
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Transforming optimism to realism: Restructuring of the Greek electricity market
RAE’s roadmap, November 2012Ministerial Council’s Act, July 2013
Transitory Measures•Modification of wholesale market rules•NOME type products (third party access to lignite energy)
• Small PPC• Strategic investor in PPC• TSO’s ownership unbundling
Long Term Permanent Status•Adaptation to EU’s target model
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To be elaborated and defined by the Regulator ensuring short, medium and long term capacity adequacy
and response to peak demand in a cost effective way and
in compliance with relevant EU guidelines.
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NOME-type procedures
• NOME-type procedures aim at opening the retail market.
• NOME-type procedures shall ensure third-party access to energy produced by lignite-fired plants owned and operated by PPC and not directly to the plants.
• No impact on power plants’ financials.
• NOME is a transitional measure to be abolished by the time small PPC is transferred to third party ownership.
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• In principle, positive move, towards real energy market liberalization.
• Forced transfer of consumers instead of voluntary - competition driven - change of supplier (should already be realized through NOME if successfully designed)
Small PPC Recent Draft Law for selling 30% of
PPC
• Should aim to create symmetric competition in generation, leading to long term competition in retail and lower prices to the consumer.
Issues TBD:• Inclusion of PPC’s lowest efficiency CCGT in the package
Thank you!