The current IGCC settlement description can be found in the Stakeholder document for the principles of IGCC on the ENTSO-E webpage for IGCC.

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1 1. urrent IG settlement [February 2016] The current IG settlement descrpton can be found n the Stakeholder document for the prncples of IG on the ENTSO-E webpage for IG. 2. Opportunty prces descrpton In ths secton the determnaton of the opportunty prces s presented. The opportunty prces reflect the value of netted mbalances,.e. avoded afrr energy costs due to the avodance of afrr actvaton and are usually based on natonal afrr energy prces,, whch are therefore more accurately descrbed per country Austra The IG Opportunty Prces are determned by the actvated afrr energy. The IG Opportunty Prces for both IG mport and IG export are determned as the quanttyweghted average of afrr energy costs blled for the respected drecton wthn the settlement perod n Austra. The IG Opportunty Prces are determned separately for IG mport and IG export delveres. If there was no afrr energy actvaton nether for negatve nor postve drecton, the afrr energy prce that would have been pad for the frst actvated bd n the Austran mert order lst n the respectveed drecton (respectvely n case of afrr cooperaton the frst actvated bd n the common mert order lst of the cooperaton) s taken as the IG Opportunty Prce., IMP, EXP M afrr afrr _ pos, M afrr pos, afrr _ neg, neg, Page 1 of 10

2 Varable Descrpton Unt Sgn afrr pos, afrr neg,, Imp, Exp M afrr_pos, M afrr_neg, Amount of actvated postve afrr energy for the IG settlement perod. Amount of actvated negatve afrr energy for the IG settlement perod. Resultng IG Opportunty Prce of APG for IG mport for the IG settlement perod. Resultng IG Opportunty Prce of APG for IG export for the IG settlement perod. Total costs for postve afrr energy delveres of APG for the IG settlement perod. Total costs for negatve afrr energy delveres of APG for the IG settlement perod. [ ] [ ] Always postve. Always postve. Postve values means APG pays for actvaton of postve afrr energy. Negatve value means APG s pad for actvaton of postve afrr energy. Postve value means APG s pad for actvaton of negatve afrr energy. Negatve value means APG pays for actvaton of negatve afrr energy. Postve value means APG has costs. Negatve value means APG receves payment. Postve value means APG receves payment. Negatve value means APG has costs. Examples for alculaton of IG Opportunty Prces Example for one IG settlement perod of a day: Example for IG Opportunty Prce for mport afrr energy Prce n amount n MWh /MWh osts n Bd Bd Bd Sum (afrr pos and M afrr_pos ) IG Opportunty Prce /MWh 97,660 Page 2 of 10

3 Example for IG Opportunty Prce for export afrr energy amount n MWh Prce n /MWh Revenues 1 n Bd Bd Bd Sum (afrr neg and M afrr_neg ) IG Opportunty Prce /MWh -5, Belgum alculaton of IG Opportunty Prces The IG Opportunty Prces are determned by the actvated afrr energy. Remuneratons for postve afrr energy and negatve afrr energy are pad separately at ther respectve prce durng one settlement perod (quarter of an hour). All resources whch are part of the actvated afrr are actvated at the same tme. The quantty of afrr to be actvated per resource s calculated as a pro rata, wth the selected afrr as weghtng factor. The IG Opportunty Prces for both export and mport drecton are determned as the quantty-weghted average of the actvated afrr energy bds. The weghtng factor corresponds wth the share of the quantty of selected afrr per suppler. The afrr energy bds are subject to prce caps based on fuel cost and a markup. The maxmum prce for postve afrr energy s the fuel cost of a standard ombned ycle Gas Turbne wth an effcency of 50% plus 40 /MWh. The mnmum prce for negatve afrr energy s 0 /MWh. Varable Descrpton Unt Sgn/ source afrr pos;;k Postve actvated afrr energy from suppler k for the afrr energy accountng perod. Always postve. afrr neg;;k Negatve actvated afrr energy from suppler k for the afrr energy accountng perod. Always postve. 1 Negatve revenues are costs. Page 3 of 10

4 P pos;;k afrr energy prce for the postve actvated afrr energy from suppler k for the afrr energy accountng perod. Always postve (Ela pays for actvaton of postve afrr energy). P neg;;k afrr energy prce for the negatve actvated afrr energy from suppler k for the afrr energy accountng perod. Always postve (Ela s pad for actvaton of negatve afrr energy). ; Imp Resultng IG Opportunty Prce of Ela for IG mport for the IG settlement perod. Postve (Ela pays for actvaton of postve afrr energy). ; Exp Resultng IG Opportunty Prce of Ela for IG export for the IG settlement perod. Postve (Ela s pad for actvaton of negatve afrr energy). ;Imp = all supplers k [P pos;;k afrr pos;;k ] all supplers [afrr pos;;k ] k=1 ;Exp = all supplers k=1 [P neg;;k afrr neg;;k ] all supplers [afrr neg;;k ] k Examples for alculaton of IG Opportunty Prces Examples for Ela IG Opportunty Prce determnaton for one IG settlement perod: Example for IG Opportunty Prce for mport afrr energy Prce n amount n MWh /MWh osts n Bd Bd Bd Sum IG Opportunty Prce /MWh 57,33 Page 4 of 10

5 Example for IG Opportunty Prce for export afrr energy Prce n amount n MWh /MWh osts n Bd Bd Bd Sum IG Opportunty Prce /MWh zech Republc The afrr energy prce s fxed by the zech energy regulator for a year per drecton of delvery. Delvered postve and negatve afrr energy s netted per afrr provder over 60 mnutes. If afrr energy balance s postve, afrr provder receves regulated prce for postve afrr energy tmes fnal balance and vce versa for negatve afrr energy fnal balance. The IG opportunty prces are based on cost reducton of afrr energy payments n the zech Republc. The cost reducton s based on the value of netted mbalances and s determned as a dfference between payments for afrr energy wth ČEPS not partcpatng n IG and payments for afrr energy wth ČEPS partcpatng n IG. zech Republc has 60 mnutes mbalance settlement perod (accountng perod), therefore, the IG opportunty prces are same for four (4) consecutve quarters of an hour consttutng 60mn mbalance settlement perod. Further, due to use of the afrr energy fxed prce and nettng of postve and negatve afrr energy delveres over 60 mnutes, the IG opportunty prces are same for IG mport and IG export. Determnaton of the zech opportunty prces s as follows:, Imp, Exp afrr costs _ wthout_ IG ; IG Import; afrr IG costs _ wth_ IG ; Export; Page 5 of 10

6 Varable Descrpton Unt Sgn, Imp, Exp ndex afrr ; costs _ wthout_ IG afrr ; cos ts _ wth_ IG IG Import; IG Export; IG Opportunty Prce for mport n the afrr energy accountng perod. IG Opportunty Prce for export n the afrr energy accountng perod. afrr energy accountng perod n the zech Republc osts of afrr energy delveres that would be payed to afrr energy provders f ČEPS would not be partcpatng n IG n the afrr energy accountng perod. osts of afrr energy delveres payed to afrr energy provders due to IG n the afrr energy accountng perod. IG energy mport n the afrr energy accountng perod. IG energy export n the afrr energy accountng perod. [ /MW h] [ /MW h] - - [ ] [ ] Postve: ČEPS pays for actvaton of postve afrr energy to afrr provders; Negatve: ČEPS avods to pay for actvaton of postve afrr energy to afrr provders due to afrr nettng. Postve: ČEPS avods to pay for actvaton of postve afrr energy to afrr provders due to afrr nettng. Negatve; ČEPS pays for actvaton of postve afrr energy to afrr provders. Postve value means payment to afrr energy provders. Postve value means payment to afrr energy provders. Always postve. Always postve. Page 6 of 10

7 2.4. Denmark The Dansh IG Opportunty Prces are calculated separately for IG mport and export. For mport the IG Opportunty Prce s derved from a prce of postve afrr energy and s determned as the hghtest of the Nord Pool Spot Prce for DK1 plus 100 DKK/MWh and the mfrr energy prce for DK1. For export the IG Opportunty Prce s derved from a prce of negatve afrr energy and s determned as the lowest of the Nord Pool Spot Prce for DK1 mnus 100 DKK/MWh and the mfrr energy prce for DK1. Examples for alcualton of IG Opportunty Prces Example for an IG settlement perod of a respectve day: Example for IG Opportunty Prce for mport Prce for postve mfrr energy DKK/MWh Nord Pool Spot DK1 Prce DKK/MWh Maxmum Max [ ; DKK] IG Opportunty Prce DKK/MWh Example for IG Opportunty Prce for export Prce for negatve mfrr energy DKK/MWh Nord Pool Spot DK1 Prce DKK/MWh Mnmum Mn [190.58; DKK] IG Opportunty Prce DKK/MWh 2.5. France The French afrr energy prce s regulated and equal to the French hourly Day-Ahead EPEX spot prce of the correspondng settlement perod. There s one sngle prce for both postve and negatve afrr energy. RTE opportunty prces are exactly equal to the prces for actvated afrr energy n the correspondng settlement perod; whch means the French hourly Day-Ahead EPEX spot prce of the settlement perod. IG mports and exports are valuated wth the same IG Opportunty Prces. There s one RTE Opportunty prce for both IG mport and export n each IG settlement perod (quarter of an hour), equal to the French hourly Day-Ahead EPEX spot prce of the quarter of hour. Page 7 of 10

8 2.6. Germany In Germany, calls for secondary control energy are made based on a common mert order lst. Ths mert order lst ncludes all afrr-bds of the four German TSOs and from the begnnng of the German-Austran-ooperaton (11 th Jul 2016) also the afrr-bds from APG. The offers taken up are then settled on a "pay-as-bd" bass. The opportunty prces for Germany are determned separately for postve and negatve secondary control energy per each quarter of an hour. For the calculaton of the opportunty prce, the average prce of secondary control energy exchanged n each balancng drecton durng a 15-mnute nterval s used. Only bds whch were actvated for Germany are consdered. In case postve secondary balancng s needed by the German TSOs, the opportunty prce corresponds wth the quotent of the postve secondary control energy costs per 15 mnutes and the postve secondary control energy volume per 15 mnutes. In case negatve secondary control energy s needed by the German TSOs, the opportunty prce corresponds wth the quotent of the negatve secondary control energy costs or proceeds per 15 mnutes and the negatve secondary control energy volume per 15 mnutes. If there was no demand n a certan drecton, the lowest energy prce of the mert order for that drecton wll be used as the opportunty prce. Detaled Informaton about the settlement wthn the cooperaton can be found on Netherlands The Dutch IG Opportunty Prces are derved from the prce of actvated afrr bds. Ths means that the last actvated FRR bd determnes the FRR prce for all supplers (margnal prcng). These FRR prces are publshed the followng busness day. There s only ether a postve or a negatve prce for supplers of FRR energy. If, however, actvaton n a ¼ hour occurs n both drectons, prces are therefore also calculated, publshed and nvoced n both drectons. These prces then consttute the opportunty prces. When no actvaton of FRR has occurred n a ¼ h perod, then the mdprce wll be the opportunty prce: the average of the lowest upward regulaton bd and the hghest downward regulaton bd. See below three examples of the consttuton of the mbalance prces, respectvely upward regulaton, downward regulaton and no regulaton: bdprceladder /MWh <- absorpton suppleton -> upward regulaton prce = dspatch prce postve power -> 0 <-- MW --> Page 8 of 10

9 afrr energy Prce [Eur/MWh] bdprceladder /MWh <- absorpton suppleton -> lance -> dspatch prce negatve power = downward regulaton prce 0 <-- MW --> bdprceladder /MWh <- absorpton suppleton -> upward regulaton prce = downward regulaton prce ce -> 0 <-- MW --> 2.8. Swtzerland The Swss Opportunty Prces are lnked wth Swss afrr energy prce that s derved from EPEX hourly spot electrcty prce, so called Swssx. Below you can fnd an example for the, the Swss afrr energy prce (and opportunty prce) determnaton respectvely: Postve afrr energy: afrr provder receves SwssIX+20%, mn weekly base SwssIX+20% Floor of weekly base Page 9 of 10

10 afrr energy Prce [Eur/MWh] 50 Negatve afrr energy: afrr provder pays SwssIX-20%, max weekly base SwssIX-20% ap of weekly base The IG mport and export are evaluated wth dfferent IG IG Opportunty Prces. There s one opportunty prce for IG mport and another opportunty prce for IG exports n each IG settlement perod (quarter of an hour). In Swtzerland the provson of afrr energy s netted for each 15 mnutes before the remuneraton s calculated. Swssgrd remunerates the netted actvaton wthn one tme nterval wth the respectve afrr energy prce, thus there are no seperate payments for postve and negatve delvery n the same tme nterval. The nettng of afrr energy delveres over 15 mnutes affects the opportunty costs and wll be therefore taken nto account when calculatng the opportunty costs as follows: The balance of afrr energy delvery wthout IG energy exchange wthn the afrr energy accountng perod s calculated. Its sgn determnes the opportunty cost. In case of postve balanced demand for afrr energy (energy shortage) the opportunty cost for delveres to and from IG are set to the cost of afrr energy postve (+). In case of negatve balanced demand for afrr energy (energy surplus) the opportunty costs delveres to and from IG are set to the cost of afrr energy negatve (-), respectvely. In the very unlkely case of completely netted demand the opportunty costs are set to an average of afrr energy + and afrr energy - costs. 15-mn ntervals Netted afrr energy amount wthout IG energy exchange n MWh Example for Swss IG Opportunty Prce afrr negatve energy prce (Swssx - 20%, max weekly base) /MWh afrr postve energy prce (Swssx +20%, mn weekly base) /MWh Swss IG Opportunty Prce /MWh Page 10 of 10