Transparency in Energy Markets The Success of the EEX Transparency Platform
After six months of operations, the European Energy Exchange’s Transparency Platform has delivered on its promise, setting the benchmark for the rest of the European energy sector to follow.
and greater usage by the industry and other interested parties, the service is also expanding its list of reporting companies and preparing for reporting from the solar community. The birth of the EEX Transparency platform is a true industry
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success story, establishing a benchmark for others to follow. Although a big challenge, it was one EEX was willing to take, made increasingly possible by bringing several stakeholders together under one roof. Two year’s in the making and following extensive consultation throughout the industry – including TSOs, regulators, and industry associations – it was an extensive process by any measure. Thus the EEX was able to engage the industry and all stakeholders in the development. To succeed in its objective, the EEX had to follow a critical path in establishing the transparency platform. The Transparency platform implements the statutory publication requirements in the field of generation and thus connects this data with the existing voluntary commitment of the power plant operators for the first time. The number of the companies reporting on the platform
has increased from 8 to a total of 14 today, with a further 14 companies having begun preparations for reporting. They have either been provided with detailed information or are about to conclude contracts regarding the provision of data. As a further extension to the platform, data on actual and expected generation of solar energy is to be published soon. During the first six months of operation the degree of coverage
EEX ... was able to engage the industry and all stakeholders in the development
of the statutory publication requirements has increased from 74.8% (which was initially already high) to almost 77%. With approximately 2,800 unique visitors per month the number of users of the platform has levelled out at a high level. As such, all companies not yet reporting are invited to take part and to increase the degree of coverage even further. TIWAG – Tiroler Wasserkraft AG in Innsbruck recently became
the first Austrian company to participate in the transparency platform for ‘voluntary reporting’. “We see this step as an excellent opportunity to strengthen the confidence which the public and our customers place in our work,” says Edgar Röck, head of energy trading at TIWAG.
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he Transparency in Energy Markets platform launched by EEX late last year has met with an excellent response from energy sector participants. With increasing coverage
a central, accessible portal for energy market data which satisfies compliance with statutory and regulatory transparency requirements to achieve the following objectives:
• Integration of statutory publication requirements and the practice of voluntary publication.
• Strengthening the confidence which the public and market participants place in market operations.
• Increasing the legitimacy of market pricing.
• Maintaining fairness and equal opportunities for all market participants.
• Promoting further European market development and integration.
Transparency is a precondition for the efficient functioning
of a competitive energy market where all players should have the same level and accuracy of information. This is critical for consistency in operations and pricing. Whilst there have been many regulations prescribed by the EU, the EEX wanted to bring further clarity to the key transparency issue. Without voluntary information contained on the platform, it would not have become the success it is, with 80% of the platform use for voluntary information – one of its most important assets. This voluntary information provision is akin to someone buying a newspaper purely to read the news section, and skipping the rest. However, it is necessary for the reader to have the confidence that the rest of the newspaper sections still exist, even though they don’t read them. So the information needs to exist and be made available ubiquitously for multiple requirements – where users can pick and choose what is most relevant to them.
Feature-Benefits The EEX transparency platform is central and neutral for
its users – an umbrella or ‘one stop shop’ for centralised information. This means that in order to get the whole picture users don’t need to go to multiple platforms or market participants. This centralised mechanism also standardises information and processes, removing the fluctuations which could occur through information provision from individual information generators, thus minimising the possibility for inconsistency and mis-interpretation. The mantra is that the EEX platform is truly neutral:
technical solutions allow that all users of the platform, be it TSO, power plant operators, traders and the public get access to just the information they need, respecting at the same time
worldPower 2010 European Energy Exchange
Need For Transparency The rationale behind the Transparency platform is to provide
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