New UI Design. Shipper training. October 2015

Transcription

1 New UI Design Shipper training October 2015

2 Agenda Introduction New User Interface: General Changes New User Interface: Registration Process New User Interface: Auctions Special Focus: Within-day New User Interface: FCFS New User Interface: Secondary New User Interface: Surrender REMIT Transaction Reporting

3 Introduction

4 Our Motivation Early CAM Go-live of the European PRISMA platform Auctioning of primary capacity FCFS booking Surrender of capacity 1 Apr Oct 2013 Secondary Trading Integration of secondary marketing Trader lists, anonymous trading Different trading procedures (CFO, FCFS, OTC) 1 Jan Oct 2014 Full CAM implementation Within-day auctions Bid roll-over Extension of automated shipper connection 1 Oct 2015 Dec 2015 Platform Upgrade Reverse Auctions Asynchronous FCFS bookings & special contracting services Automated FCFS booking confirmation Usability improvements Platform Upgrade Multi-currency Extension of comfort bidding More transparent competition information Platform Redesign New information architecture Update of visual design Reporting functionality 4

5 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live Expert Review A team of user experience experts reviewed the current system focussing on the following aspects: Home page Task orientation Navigation and information architecture Forms and data entry Trust and credibility Writing and content quality Page layout and visual design Search Help, feedback and error tolerance 5

6 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live Study The feedback provided by users through PRISMA and ENTSO-G public consultations has been thoroughly analysed aiming at identification of central usability issues and requests for improved functionality 6

7 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live User Consultations Several visits at users workplace and web-sessions to answer these questions: What are the key-tasks of our users? In which of these tasks does PRISMA play a role? How does this relate to the other tasks? To which extent does the current platform support these tasks? Or doesn't support? How do the users work with the current platform? What other tools are used? Who else is involved? What do the users experience as the major points for improvement? Where lie opportunities? 7

8 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live Design challenges Improve Productivity Support faster entry Optimize searching and navigating network points Rework information architecture Be more reassuring Move from object-orientation to task-orientation Update visual design Improve the usability of the dashboard Support analysis 8

9 Usability Project A complete Overhaul of the Graphical User Interface Expert Review User Validation Study User Consultations Indicative design concepts Detailed Mock-ups Design Challenges User Validation New Design Implementation Test Go-live 9

10 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live New Design Based on the user feedback workflow- and design amendment were made, resulting in the updated design of the PRISMA Platform 10

11 Usability Project A complete Overhaul of the Graphical User Interface Study Expert Review User Consultations Design Challenges User Validation New Design Implementation Test Go-live Implementation, Test, Go-live The overhauled processes, technology and design is currently being implemented and thoroughly tested, aiming at a go-live later this year. 11

12 Cease of old Browser Support as of December 2015 PRISMA s development and test plans will be adjusted to stop all engineering work and testing related to Internet Explorer 9 (IE9) and older. Users who access PRISMA services from an unsupported browser will be notified through an in-product notification message. PRISMA capacity platform will support the following browsers: Internet Explorer 10 and newer Firefox (v38+ incl ESR) Web-kit browsers (e.g. Chrome v43+ in desktop and tablet version) At PRISMA, we are committed to developing secure and reliable web applications. Supporting only up-to-date browsers allows our engineering teams to focus on new functionalities and to ensure security and performance of the PRISMA Capacity Platform. 12

13 New User Interface: General Changes

14 Concepts of new User Interface More transparency on your activities on the platform Activity feed Network point details Reporting section A focused view on the topics of your interest Your personalized Dashboard Quick access to relevant actions Direct access to Auctions, FCFS bookings, Secondary Market and Surrender Reworked information architecture 14

15 Navigation Bar Home Back to landing page Transaction sections Access to main transaction sections Reporting section NEW Quick access to past auctions and secondary transactions 15

16 Landing Page Quick Access Network Point Search Search by network point name Upcoming Auctions Countdown indicates time until start of auction Live Auctions Direct access to running auctions 16

17 Urgent Market Messages UMM notice Crucial information is provided to you in a prominent way. UMM details Detailed information is available in a dedicated market messages section. The possibility to follow via RSS feeds keeps you up-todate even when you are not active on the PRISMA Platform. 17

18 Dashboard User notifications Displays Urgent Market Messages and other actual information to the user Auction tiles Provides summary of current and future auctions Favourite network points Provides quick access to frequently used network points 18

19 Activity Feed Activity Overview Summarises all transactions carried out in the last 30 days: Placed bids Secondary transactions FCFS bookings Surrender requests Refinement options Filter by: Status Network point Transaction type Transaction time 19

20 Network Point Details Related transactions Quick access to auctions, secondary trades and other transactions related to a network point Network point details Information about offered capacity products and prices TSO Notices Additional information provided by the TSO for this specific network point 20

21 New User Interface: Platform Settings

22 Platform Settings Overview Platform Settings Access configurations to tailor the PRISMA Platform to your needs 22

23 Platform Settings General View settings View either you own or all the favourite points of your colleagues on the overview. Focus on your recent activity or the activity of you colleagues Default units View flow units in overviews in either kwh/h or MWh/h or prices in subunit or major unit (e.g. cent or EUR) 23

24 Platform Settings Trader Lists New trader list Start the creation of new lists Overview Clear overview on your configured trader lists with the option to amend or delete them Details List the companies you have added to your list 24

25 Platform Settings Create Trader List New trader list Assign a name to your list Add a company Assign at least three companies to your list Save Changes The system will validate if your list is in line with our requirements regarding anonymity 25

26 Platform Settings Trading Conditions Add trading condition Easily upload additional trading conditions Overview Clear overview on your trading conditions with the option to download or delete them 26 Upload new conditions Select the file from your system (PDF), provide a name and save the file

27 Platform Settings Network Points (1/2) Overview Clear overview on your favourite network points with the option to delete them from your list. Favourite network points are shown right on your Dashboard and are highlighted in each overview to provide you quick access to the points of your interest. 27

28 Platform Settings Network Points (2/2) Search You do not know the precise name of the network point? Just enter the part you know. See Details Not sure if this is the correct one? CTRL+Click to check out the details, in a new browser tab. Select Choose the ones you are looking for from the list of suggested points and add them to your list. 28

29 Platform Settings Quick Filters Overview You can configure up to five quick filters that are available for you in any table overview. Configure specific views on certain markets, certain TSOs or specific points of interest. Adding a new filter Just define a name for your quick filter. Adding points follows the same logic as for favourite network points. 29

30 Platform Settings Dashboard Active Widgets Tailor your Dashboard to your needs. You are not active on the secondary market? Just delete the widget an focus on the things of your interest. You can drag-and-drop widgets to sort them to your needs. Inactive Widgets Click the + sign to add a widget back to your Dashboard. Don t forget to save your changes. 30

31 New User Interface: Registration Process

32 Five Steps to Registration 32

33 Registration Starting Point EIC EIC is the unique identifier of a shipper on the platform Enter your company s EIC for starting the registration 33

34 Registration Company Information (1/2) DVGW code DVGW code is mandatory for booking capacity in the German market Company data Needs only to be captured in case the Shipper company is not registered on PRISMA yet 34

35 Registration Company Information (2/2) VAT number VAT number will be used for validating the propriety of the shipper s EIC 35

36 Registration User Details address is used as unique identifier for a user Token Each user gets a personalised token which is used as a second authentication next to the password Choose between hardware and mobile token 36

37 Registration Mobile Token DIGIPASS-ES App The app can be downloaded to your mobile phone and linked with your PRISMA user account Token A token is continuously generated and has to be provided during login to ensure a maximum of security for your user account 37

38 Registration Company Contact Details Contact details Needs only to be captured in case the Shipper company is not registered on PRISMA yet Contact information can be re-used for other departments if applicable 38

39 Registration Assignment of TSOs Select desired TSOs Validate and accept the GTCs from the TSOs at the bottom of the page. 39

40 Registration Confirmation Confirm Registration Finish registration process by confirming provided information 40

41 Registration Next Steps After submitting your company information our user helpdesk will validate if the data is in line with the ENTSOG database After having passed the registration process on the platform, the user needs to file the documents requested by TSO(s) TSO(s) will validate and approve the user Once the first TSO has approved the User, the account becomes active Depending on the selected option, PRISMA will ship the hardware token or will submit the activation code for the mobile token 41

42 Account Settings

43 Account Settings Company Information Company data Your company details can be viewed and changed here 43

44 Account Settings User Details Change password A window will pop up, if you want to change your password 44

45 Account Settings Contacts Edit Contact View Details Remove Contact 45

46 Account Settings Assignment of TSOs Adding TSOs You can at any time add additional TSOs TSO overview This is a list of TSOs assigned to your company. The list provides a clear overview on the assignment status Adding a new TSO Simply search and add the TSO 46

47 Account Settings TSO Details Portfolio Codes Overview of the assigned portfolio codes and their validities, incl. CSV exports Credit Limits Overview of the credit limit details, incl. CSV exports Balancing Groups Overview of the assigned Balancing Groups and their validities, incl. CSV exports 47

48 New User Interface: Auctions

49 Auctions Basic Principles Auctions take place at different predefined times, depending on the product type. The auction calendar provides an overview of the auction times. Auctions are published in due time before the start of the respective auction. Depending on the product type, two different auction algorithms are used Ascending clock auctions for long-term products (yearly, quarterly, monthly) Uniform price auctions for short-term products (day-ahead, within-day) 49

50 Auction Types Ascending clock auctions for long-term products (yearly, quarterly, monthly) Auctions have (multiple) bidding rounds, the number of bidding rounds depends on the demand. A bid for a certain amount of capacity at a given price can be submitted in each bidding round. The duration of the first bidding round is three hours, all following bidding rounds are one hour. The price steps of the auction are set by the TSOs. Uniform price auctions for short-term products (day-ahead, within-day) Auctions have one single bidding round. A Shipper can place up to 10 bids per auction. All bids by all shippers are evaluated in a descending order according to their surcharge. The lowest surcharge of all successful bids is considered the clearing surcharge. 50

51 Direct Access to Published and Running Auctions Upcoming auctions Upcoming auction slots are shown on your Dashboard or the auctions page. A countdown shows you if there is still time to grab a cup of coffee before the auction start. Published and open auctions Additional information is provided as soon as the auctions are published or open. You can the access the auctions by clicking on Join now 51

52 Auctions Overview Place Bid Access the detailed bidding screen directly from the auction overview 52

53 Place a Bid -Short-term Auctions- Bid Data Surcharge needs to be provided for Uniform-Price algorithm Minimum capacity relevant for fill or kill rule in the algorithm Bal. Group and Portfolio Code May be required by TSO Bid roll over Tick to automatically create a bid in the first within-day auction in case the day-ahead bid has not been awarded 53

54 Placed Bids displayed in the Dashboard Successful Bid You have been awarded the full amount of your bid. Pending Bid This auction is still running. 54

55 Placed Bids displayed in the Dashboard Partly Successful Bid You have not been awarded the full amount of your bid but more than your minimum amount. Unsuccessful Bid You have not been awarded any capacity in this auction. 55

56 Day-ahead Comfort Bid Creation (1/4) Comfort bid in auctions section Access the auctions section to have an overview on you active comfort bids or create new ones. Create comfort bid Use comfort bid feature to automatically create bids for day-ahead auctions 56

57 Day-ahead Comfort Bid Creation (2/4) Network Point Select the network point the comfort bid shall apply for 57

58 Day-ahead Comfort Bid Creation (3/4) Submission settings Define for which capacity category and timeframe the comfort bid shall apply Bid data Provide the same data as for manual bid creation 58

59 Day-ahead Comfort Bid Creation (4/4) Confirm bid Check bid parameters, accept GT&Cs and submit comfort bid 59

60 Long-term Auctions Overview Customize view Choose preferred units displayed in the overview Place bids Create bids in-line 60

61 Long-term Auctions Create Bid Place bid Just enter the amount for this bidding round Create comfort bid Add more bids for future bidding rounds 61

62 Long-term Auctions Comfort Bid Bid Data You can enter a price curve that shall be applied for this long term auction. You can thereby place bids up to a specific surcharge in an automated manner. The comfort bid can be submitted as soon as the auction is published. 62

63 Long-term Auctions Allocated Capacity Allocated capacity The results of the auction can be retrieved in the activity feed 63

64 Special Focus: Within-day

65 Within-Day Auctions Basic Information Within-Day auctions are processed based on the uniform-price auction algorithm (the same as for Day- Ahead auctions) There is no comfort bidding functionality for the Within-Day auctions Within-Day auctions are published and started in the same moment Every Within-Day auction finishes 3.5h before the product runtime 65

66 Within-Day Auction Schedule Day-ahead auction for the product runtime of the next gas day takes place everyday at 16:30 CE(S)T The first Within-Day auction has the same runtime (06:00-06:00) and it starts at 19:00 CE(S)T The Within-Day auction for 24h product is longer and it lasts until 02:30 CE(S)T Every consecutive Within-day auctions starts at full hour and lasts for 30 minutes. Every hour the product runtime is reduced by 1 hour The last Within-day auction starts at 01:00 01:30 for the runtime of 05:00 06:00 (the same gas day) 1h 2h 3h 4h 5h 6h 7h 8h 9h 10h 11h 12h 13h 14h 15h 16h 17h 18h 19h 20h 21h 22h 23h 24h 24h 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 00:00 01:00 02:00 03:00 04:00 05:00 06:00 Gas Day D-1 66 Gas Day D

67 Within-Day Auctions for different Gas Days will be conducted in parallel 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 00:00 01:00 02:00 03:00 04:00 05:00 06:00 Gas Day D-1 67 Gas Day D

68 Bid-Rollover for the first Within-Day Auction Day-Ahead auction bids for the first slot can be rolled over for the first Within-Day auction (only if no capacity was allocated to the shipper user during the Day-Ahead Auction) IMPORTANT NOTICE: The bid will only be placed if i) the TSO(s) offer(s) capacity in the respective auction at the concerned network point and if ii) there was no cancellation and/ or interruption of the respective day-ahead auction. The starting price and the capacity of the within-day auction might differ from the one of the day-ahead auction. 68

69 New User Interface: FCFS

70 FCFS Basic Information The FCFS Booking Process* Besides the possibility to acquire capacities via auctions shippers also have the possibility to book certain capacities on a first-come-first-served basis In FCFS bookings the platform acts as an intermediary between shipper and TSO with regard to all booking information (e.g. request, confirmation of availability). First-come-first-served means that Capacity is sold at the regulated tariff. The user requests a certain amount and the TSO checks whether the requested amount is available. If the requested capacity is not available, the TSO may send alternatives, that are then presented on the platform. * FCFS is not possible with all TSOs (depending on national regulation and TSO decision) 70

71 FCFS Select Network Point FCFS Booking One way to start a FCFS booking is right from the top menu. You can also start from the favourite NWPs on your Dashboard or the NWP overview. Select network point If you start your booking from the top menu, you have to select the network point you want to book capacity on. This step can be skipped if you start from a favourite network point. 71

72 FCFS Specify Booking Day Ahead runtime Quick selection for the next gas day Monthly runtime Quick selection for the next gas month Custom runtime Provide a custom product runtime by selecting the dates 72

73 FCFS Confirm Booking Overview of request and offer Displays summary of booking information Finalization of booking Add booking label (optional) Convert interruptible into firm capacity (optional see next page) Assign balancing group or portfolio code Confirm GT&Cs 73

74 FCFS Conversion Conversion of Capacity Provide details about booked interruptible capacity used for converting into firm capacity 74

75 FCFS Booking Notification Booking Notification A clear status indication will show if your booking was successful and what data was transferred. You can access the details of you past bookings in the reporting section. 75

76 FCFS Trade Proposal Suggestions Trade Proposals In case there is capacity offered on the secondary market at the point you have started your FCFS request, you will be shown matching Trade Proposals during your booking process. 76

77 New User Interface: Secondary

78 General Trading Process 1. Shipper creates a Trade Proposal 2. The Trade Proposal is validated and published by the platform and optionally validated by the involved TSOs 3. One or more Shipper(s) place a Response to the Trade Proposal; Responses are subject to an acceptance procedure (either manually by the Initiating Shipper or automatically by the platform) 4. Once a Trade Proposal has been matched with a Response, a Trade is created 5. The Trade is validated by the platform and the TSO 6. The Trade confirmation is send to both Shippers and to the TSO 7. The Trade is published on the platform 78

79 Types of Trades Trade Once a Trade Proposal has been matched with a Response, a Trade is created A Trade is the contractual agreement to assign capacity or transfer the use of capacity on the secondary market. Each Trade has to be accepted by the TSO(s) either automated or manually There are two types of trades: Transfer of Use Transfer of Use is a Transaction Type where the Selling Shipper remains the legal counterparty of the TSO and the Buying Shipper nominates the purchased capacity Assignment An Assignment is a Transaction Type where all rights and obligations are completely allocated from a Selling Shipper to a Buying Shipper 79

80 Trading Procedures Trading procedure A Trading Procedure can be considered as the approach how a Trade Proposal is matched with Responses There are three types of trading procedures (see next slides): First Come First Served (FCFS) Call for Orders (CFO) Over the Counter (OTC) 80

81 Basic Principles (1/2) Contract Duration - the contract period of each trade proposal can be defined individually by the shipper Capacity Categories - firm and interruptible capacity of all categories supported by the respective TSO can be traded on the secondary market Transaction Types - capacity assignment & transfer of use are supported by PRISMA; TSOs can configure which transaction types are allowed to be traded at the corresponding points Trading Times - secondary products can be traded 24/7 on the platform; lead times of the respective TSO must to be considered when trade proposal expiry date is set by the shipper Anonymity - all non-otc trading procedures are anonymous until the deal is concluded; only then the parties are revealed to each other. The counterparties may remain completely anonymous during the entire contract lifecycle if supported by the TSO (only possible for capacity assignments, with a price of 0,00) 81

82 Basic Principles (2/2) Prices Prices (shipper to shipper) are entered in currency subunit (e.g. cent/kwh/h) Negative prices are allowed, i.e. the selling shipper could pay the buying shipper for taking over capacity Bundling - unbundled exit & entry products at the same point can be sold as a bundle if supported by the TSO Product Settings - the shipper placing the trade proposal can indicate whether it is allowed to buy/sell only a part of the offered/requested amount or period. Additionally, a minimum amount or period per trade can be set. 82

83 Over the Counter (OTC) Definition: One of both Shippers creates Trade Proposal and states the counterparty. The shippers agree on a capacity trade in advance (bilaterally outside of the platform), registration, confirmation and validation is done on the PRISMA platform. Price and conditions of the trade are agreed upon by the parties in advance. Counterparty is notified as soon as the Trade Proposal has been submitted and validated. Counterparty can respond to the Trade Proposal, the Response is considered as the confirmation of the counterparty. Rules that apply for OTC deals: The counterparty that accepts or rejects the deal cannot change the price The vendor can also send the OTC request to several parties OTC Initiated by Selling Shipper Offline negotiation on price & conditions Selling Shipper registers transaction Buying Shipper only confirms Initiated by Buying Shipper Offline negotiation on price & conditions Buying Shipper registers transaction Selling Shipper only confirms 83

84 OTC Process Chart Create trade proposal Validate proposal Place a response Create trade Validate trade Confirm trade Publish trade Initiating Shipper Create trade proposal Receive trade confirmation Responding Shipper Accept trade Receive trade confirmation Platform Validate trade proposal Create trade Validate trade Confirm trade Publish trade TSO* Receive trade proposal Validate trade Receive trade confirmation * 2 TSOs for bundled products Activity on the platform 84 Activity is not on the platform

85 First Come First Served (FCFS) The price of the proposal to buy or sell is considered as the fixed price the buyer/seller is willing to pay/sell for. Once the Response was submitted, it is automatically accepted FCFS proposals are anonymous until the deal has been confirmed Initiated by Selling Shipper Initiated by Buying Shipper FCFS Binding offer by Selling Shipper at fixed price Countered with (partial) Response by Buying Shipper Binding request by Buying Shipper at fixed price Countered with (partial) Response by Selling Shipper 85

86 FCFS Process Chart Create trade proposal Validate proposal Place a response Create trade Validate trade Confirm trade Publish trade Initiating Shipper Create trade proposal Receive trade confirmation Responding Shipper Create a response Receive trade confirmation Platform Validate trade proposal Publish trade proposal Create trade (automatically) Validate trade Confirm trade Publish trade TSO* Receive trade proposal Validate trade Receive trade confirmation * 2 TSOs for bundled products Activity on the platform Activity is not on the platform 86

87 Call for Orders (CFO) Definition: Price of the proposal to buy/sell is considered as max./min. the buyer/seller is willing to pay/sell for The party who created the Trade Proposal can wait for more responses to come The party who created the Trade Proposal can select the response he accepts from all received responses. CFO proposals are anonymous until the trade has been confirmed; this implies that the trade cannot be negotiated. Rules that apply to Call for Orders: When placing a response to a trade proposal to buy, the buyer can set a maximum price he is willing to pay. When placing a response to a trade proposal to sell, the vendor can set a minimum price he is willing to accept. Both the buyer and the vendor have to set the maximum amount of capacity that they request/offer. Call for Orders Initiated by Selling Shipper CFO started by Selling Shipper Buying Shipper proposes (partial) Response & price Response evaluation by Selling Shipper Initiated by Buying Shipper CFO started by Buying Shipper Buying Shipper proposes (partial) Response & price Response evaluation by Buying Shipper 87

88 CFO Process Chart Create trade proposal Validate proposal Place a response Create trade Validate trade Confirm trade Publish trade Initiating Shipper Create trade proposal Accept response Receive trade confirmation Responding Shipper Create a response Receive trade confirmation Platform Validate trade proposal Publish trade proposal Create trade Validate trade Confirm trade Publish trade TSO* Receive trade proposal Validate trade Receive trade confirmation * 2 TSOs for bundled products Activity on the platform Activity is not on the platform 88

89 Additional Secondary Features: Trader Lists Trader lists can be used to restrict secondary trading to a defined number of counterparties Trader lists help shippers to restrict trading in accordance with their company s requirements (e.g. in terms of credit worthiness) When creating a trade proposal or placing a response shippers can decide whether they would like to apply a trader list in their trade proposal / response It is possible to prepare a number of trader lists in advance Limitations: A trader list has to have at least three entries Once a trader list is used, it can be withdrawn but no other list can be applied to the same trade proposal or response Once a trader list is applied, additional entries (shipper companies) may be added to the list Entries may only be removed after the trade proposal or response has reached a final status (e.g. expired or finished) 89

90 Additional Secondary Features: Trading Conditions Shippers can choose standard trading conditions provided by PRISMA (EFET standard contract) or attach their own trading conditions to the product. Individual trading conditions can be uploaded to the platform. Those documents are then available during the creation of a trade proposal or can be uploaded during the Trade proposal creation process. 90

91 Secondary Trading Create Trade Proposal Choose Type For capacity offers and requests, different trading details have to be provided in the following steps 91

92 Secondary Trading Define Trade Trading Procedure Choose OTC, FCFS or CFO The differences in the processes are briefly described on the screen Transaction Type Choose Assignment or Transfer of Use a onscreen hint give you information on the differences between the two 92

93 Secondary Trading Trade Conditions (1/2) Standard offer details Capacity amount and runtime have to be provided for all offers; the price is either your minimum/maximum, fixed or zero, depending on the previous settings 93

94 Secondary Trading Trade Conditions (2/2) Trade Proposal conditions Minimum lot size and runtime can be applied as constraints for responses to this proposal Expiration date defines the point in time until the proposal will be on the market The group of potential counterparties can be limited by using a trader list As trading conditions, either EFET standard conditions or individual conditions can be attached With the option New conditions you can also upload your trading condition during the proposal creation 94

95 Secondary Trading Set Capacity Details Capacity Details Information about underlying capacity product will be used by TSOs for validating the trade Price Details Price information of underlying capacity product is relevant for assignments only 95

96 Secondary Trading Confirm Trade Confirm Trade Check trade details before publishing the proposal 96

97 Secondary Trading Overview Overview Quick access to all active Trade Proposals divided into Offers (to sell) and Requests (to buy) capacity Apply filter on network points, product runtimes or capacity amounts for reducing items on list to relevant Trade Proposals 97

98 Secondary Trading Create a Response Balancing Group / Portfolio Code May be required by TSO Response details Amount only relevant for FCFS and CFO Price only relevant for CFO Acceptance of Conditions Both the conditions of the TSO and the counterparty need to be accepted 98

99 Secondary Trading View Responses Seller Responses to your Proposal View summary of all Responses to your Trade Proposal Accept responses If a Response is in line with your expectations you can accept it right from the Trade Proposal details (only applicable for CFO) 99

100 Secondary Trading View Responses Buyer Your responses to a Proposal You can see all the Responses you have created for a specific Trade Proposal directly on the detail page. You can withdraw your response as long as it has not been accepted by your counterparty (only applicable for CFO) 100

101 New User Interface: Surrender

102 Surrender of Capacity (1/2) Start surrender request Start a new surrender request from network point detail page 102

103 Surrender of Capacity (2/2) Booking ID Provide booking ID from transaction concluded on PRISMA or check tick box in case of surrender of old contract 103

104 New User Interface: Reporting

105 Reporting Section Reporting section Monthly standard reports can be downloaded Report wizard to generate reports Overview on past activities for Auctions Reverse auctions FCFS Bookings Secondary Trades Surrendered Capacity Contract Position uploaded by the TSO * This section is currently in development, therefore only presented in form of a mock-up of the to-be section. 105

106 REMIT Reporting Service

107 REMIT Reporting Service As Organised Market Place, PRISMA will provide a service for REMIT reporting to ACER Shippers, obliged to report secondary market transactions and orders, can conclude a reporting agreement with PRISMA The service will be available from April 2016 Shippers can choose between three options: PRISMA sends transaction data directly to ACER Shipper receives EDIGAS file as attachment Shippers receives EDIGAS file via Automated Shipper Connection PRISMA will publish all detailed information beginning of November Check our website or contact us by (platform@prisma-capacity.eu) 107

108 Automated Shipper Connection

109 Automated Shipper Connection is an easy-touse Solution for Capacity Trading on PRISMA OPTIMISED DATA HANDLING automated provision of auction and booking results to support integrated Frontto-Back-Office processes. INCREASED AUDIT COMPLIANCE due to automated booking confirmations IMPROVEMENT OF DATA QUALITY With the interface, shippers can eliminate manual input errors and increase their efficiency ENFORCING INTERNAL POLICIES With the automated connection, shippers can set individual trading limits for each of their users in their back-end system AUTOMATED PARTICIPATION IN A HIGH NUMBER OF AUCTIONS Automating the trading activities helps mitigating the challenges of the NC CAM day-ahead bidding window 109

110 Connecting your ETRM to the PRISMA Platform SHIPPER AUTOMATED SHIPPER CONNECTION PRISMA ETRM Messaging Adapter Bid confirmations Auction data Personalised auction results Network point data Bidding Short-Term auctions FCFS booking confirmations Capacity Platform The Automated Shipper Connection is available now to help shippers optimise their daily trading activities at the PRISMA platform. It provides secure and reliable data exchange of all relevant platform information. 110

111 A number of Shippers already use the System successfully in their daily Operations Accept Connection Agreement PRISMAs standardized agreement ensures non-discriminatory access to the offered services. Select communication solution provider PRISMA provides a standardized project approach based, amongst others, on the PONTON X/P solution. Technical Connection http(s) connection ebxml messages EFET standard Successful Functional Testing PRISMA provides a full set of test cases to the connecting shippers and full Support During The Testing Process. Go-live The PRISMA helpdesk is available for any questions after the go-live. 111

112 The Service Package COST OVERVIEW PROJECT PHASE Third party solution EFET adapter Technical Connection Creation of technical foundation (firewall rules, certificates, etc.) Support during error analysis, queries and questions during connection process Support during communication tests effort-based EUR/once Functional Testing Provision of test cases and test data Test coordination and reporting of testing status Support during functional integration tests and related error analysis effort-based EUR/once Operation & Support Operation of necessary systems on PRISMA side Technical (24/7) and operational support EUR / month EUR/month 112

113 Backup

114 Agenda Auction calendar Auction algorithms Multi-currency Credit limit check 114

115 Auction Calendar

116 Auction Calendar Summary Different capacity types available at the same network point for a certain transport period will be auctioned one after another. In general the auction order is: 1. firm capacity 2. interruptible capacity In some countries (e.g. Austria, Germany) firm capacity may be auctioned in more than one firm capacity type. The different firm capacity types may be auctioned in a specific order*. For further information about the auction order please refer to the respective TSO. * Responsibility of the respective TSO 116

117 Auction Times Note: Product Year Quarter Frequency of auctions annual Number of products per auction Y1 to Y15 Q1 to Q4 Month monthly M1 Day daily D1 Within-Day hourly h+4 Year Quarter annual Y1 to Y15 Q1 to Q4 Month monthly M1 Day daily D1 - Time zone is Central European (Summer) Time - In some cases different auction times may apply Publication of available capacity Start of the auction Auction calendar for firm capacity 1 month before 1st Monday the start of the of March auction* 2 weeks before the start of the auction* 1 week before the start of the auction* With the start of the auction 1st Monday of June 2nd Monday of the month With the start of every hour the auction Auction calendar for interruptible capacity On the day after the auction of the respective firm capacity ended** With the start of the auction * 09:00 ** 07: Bidding rounds First round 3h: 09:00-12:00 Following rounds: 13:00-14:00 15:00-16:00 17:00-18:00 16:30 30 minutes 1st Monday of April 1st Monday of July 3rd Monday of the month 30 minutes First round 3h: 09:00-12:00 Following rounds: 13:00-14:00 15:00-16:00 17:00-18:00 17:30 30 minutes Notification of allocation results to participants No later than the next business day *** No later than 30 minutes*** No later than 30 minutes*** No later than the next business day *** No later than 30 minutes*** *** after the end of the bidding round Auction type Ascending clock auction Uniform price auction Ascending clock auction Uniform price auction

118 Auction Timeline Overview (Yearly + Quarterly) February March April June July 1 st Monday Yearly auction Firm products 1 st Monday Yearly auction Interruptible products 1 st Monday Quarterly auction Firm products 1 st Monday Quarterly auction Interruptible products One month before auction start One day after firm auction end Two weeks before auction start One day after firm auction end February 2016 Mon Tue Wed Thu Fri Sat Sun March 2016 Mon Tue Wed Thu Fri Sat Sun April 2016 Mon Tue Wed Thu Fri Sat Sun Publication of available capacity Auction start 118

119 Auction Timeline Overview (Monthly) February March March April 2 nd Monday Monthly auction Firm products 3 rd Monday Monthly auction Interruptible products 2 nd Monday Monthly auction Firm products 3 rd Monday Monthly auction Interruptible products One week before auction start One day after firm auction end One week before auction start One day after firm auction end Publication of available capacity Auction start 119

120 Bidding Rounds Long term Day 1: 09:00-12:00 1 st bidding round 12:00-13:00 processing and publishing 13:00-14:00 2 nd bidding round 14:00-15:00 processing and publishing 15:00-16:00 3 rd bidding round 16:00-17:00 processing and publishing 17:00-18:00 4 th bidding round Day 2 and following: 09:00-10:00 5 th bidding round 10:00-11:00 processing and publishing 11:00-12:00 6 th bidding round 17:00-18:00 n th bidding round Short term Day-Ahead: 16:30-17:00 only bidding round firm 17:30-18:00 only bidding round interruptible Within-Day: 19:00-02:30 1 st WID auction (24h runtime) 03:00-03:30 2 nd WID auction (23h runtime). 01:00-01:30 3 rd WID auction ( 1h runtime) 120

121 Auction Calendar Auctions section The Auction Calendar is accessible at any time in the Auctions section Product type Each product type has an individual auction calendar which provides information about Date and time of publication Start of the auction Product Runtime Marketed capacity types 121

122 Auction Algorithms

123 Ascending Clock Algorithm The ascending clock algorithm is used for yearly, quarterly, and monthly products. General information Example 1: Clearance after first bidding round Example 2: Oversell after first bidding round Example 3: Undersell after third bidding round Example 4: Bundled auctions (1:n and competing auctions) 123

124 Start Price and Total Price of an Auction + + TSO 1: Regulated tariff TSO 1: Additional fees TSO 2: Regulated tariff TSO 2: Additional fees The regulated tariff and additional fees are provided by the respective TSO In case of a bundled auction the regulated tariff and additional fees of both TSO(s) are summed up. = Starting Price + Auction surcharge = Total price The auction surcharge depends on the number of price steps The auction surcharge is divided between the TSOs 124

125 Ascending Clock Algorithm The ascending clock algorithm is used for yearly, quarterly, and monthly products. General information Example 1: Clearance after first bidding round Example 2: Oversell after first bidding round Example 3: Undersell after third bidding round Example 4: Bundled auctions (1:n and competing auctions) 125

126 1. Clearance after first Bidding Round Example 1 Price P 0 Legend: P 0 B1 B1 - Bn avail. capacity B2 B3 B4 Regulated Tariff Bid 1 to Bid n Amount 1. bidding round In auctions a given amount of capacity is offered with predefined price steps A bid can be placed for a certain amount of capacity at a given price All auctions start at the regulated tariff (RT) in the first bidding round If necessary additional price steps are applied in the following bidding rounds If the sum of all placed bids in the first bidding round is lower (undersell) or equal to the available capacity the auction is closed after the first bidding round and the capacity is allocated 126

127 Ascending Clock Algorithm The ascending clock algorithm is used for yearly, quarterly, and monthly products. General information Example 1: Clearance after first bidding round Example 2: Oversell after first bidding round Example 3: Undersell after third bidding round Example 4: Bundled auctions (1:n and competing auctions) 127

128 2. Oversell after first Bidding Round Example 2 Price avail. capacity P 0 B1 B2 B3 B4 B5 B6 Amount 1. bidding round If the sum of all placed bids in the first bidding round is higher as the available capacity (oversell) the auction continues with the next bidding round A large price step is applied and bids can be placed for a certain amount at the new price P 1 (regulated tariff plus large price step) The amount of the bid has to be equal or lower to the bid in the previous bidding round Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 1. Bidding round: Six bids are placed Sum of all bids exceeds the available capacity) 128

129 2. Oversell after first Bidding Round Example 2 Price avail. capacity P 1 P 0 B1 B2 B3 B4 B6 B1 B2 B3 B4 B5 B6 Amount 2. bidding round 1. bidding round If the sum of all placed bids in the second bidding round is higher than the available capacity (oversell) the auction continues with the next bidding round A large price step is applied and bids can be placed for a certain amount at the new price P 2 (regulated tariff plus two large price steps) The amount of the bid has to be equal or lower to the bid in the previous bidding round Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 2. Bidding round: B3 reduces the bid B5 does not place a bid Sum of all bids exceeds the available capacity (oversell) 129

130 2. Oversell after first Bidding Round Example 2 Price avail. capacity If the sum of all placed bids in the bidding round is equal to the available capacity the auction closes and the capacity is allocated The clearing price of the auction is P 2 (Regulated Tariff + 2 large price steps) P 2 P 1 P 0 B1 B2 B3 B4 B1 B2 B3 B4 B6 B1 B2 B3 B4 B5 B6 3. bidding round 2. bidding round 1. bidding round Amount Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 3. Bidding round: B4 reduces the bid B6 does not place a bid Sum of all bids equals the available capacity The auction closes at clearing price P2 130

131 Ascending Clock Algorithm The ascending clock algorithm is used for yearly, quarterly, and monthly products. General information Example 1: Clearance after first bidding round Example 2: Oversell after first bidding round Example 3: Undersell after third bidding round Example 4: Bundled auctions (1:n and competing auctions) 131

132 3. Undersell after third Bidding Round Example 3 P 2 P 1 P 0 Price Legend: P 0 B1 B2 B3 B4 B1 - Bn Regulated Tariff Bid 1 to Bid n avail. capacity B1 B2 B3 B4 B6 B1 B2 B3 B4 B5 B6 Amount 3. bidding round 2. bidding round 1. bidding round 3. Bidding round: B3 & B4 reduce the bid B6 does not place a bid Sum of all bids is lower than the available capacity (undersell) 132 If the sum of all placed bids in the bidding round is lower than the available capacity (undersell) the auction continues with the next bidding round The undersell suggest that the price (regulated tariff + two large price steps) is too high, therefore the second large price step is revoked Instead a small price step is applied in the next bidding round and bids can be placed for a certain amount at the new price P 3 (regulated tariff plus one large and one small price step) The amount of the bid has to be equal or lower to the bid in the second bidding round and equal or higher than in the third bidding round (at the same time)

133 3. Undersell after third Bidding Round Example 3 P 2 P 3 P 1 Price avail. capacity B1 B2 B3 B4 B6 B1 B2 B3 B4 B6 4. bidding round 2. bidding round If the sum of all placed bids in the bidding round is higher than the available capacity (oversell) the auction continues with the next bidding round The second small price step is applied and bids can be placed for a certain amount at the new price P 4 (regulated tariff plus one large and two small price steps) The amount of the bid has to be equal or lower to the bid in the previous bidding round (in this case the fourth bidding round) Amount Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 4. Bidding round: 2nd large price step is revoked 1st small price step is applied B6 is allowed to place a bid B4 reduces the bid Sum of all bids is higher than the available capacity (oversell) 133

134 3. Undersell after third Bidding Round Example 3 P 2 P 4 P 3 P 1 Price avail. capacity B1 B2 B3 B4 B6 B1 B2 B3 B4 B6 B1 B2 B3 B4 B6 5. bidding round 4. bidding round 2. bidding round If the sum of all placed bids in the bidding round is higher than the available capacity (oversell) the auction continues with the next bidding round The third small price step is applied and bids can be placed for a certain amount at the new price P 5 (regulated tariff plus one large and three small price steps) The amount of the bid has to be equal or lower to the bid in the previous bidding round (in this case the fifth bidding round) Amount Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 5. Bidding round: 2nd small price step is applied B3 reduces the bid Sum of all bids is higher than the available capacity (oversell) 134

135 3. Undersell after third Bidding Round Example 3 P 2 P 5 P 4 P 3 P 1 Price avail. capacity B1 B2 B3 B4 B1 B2 B3 B4 B6 B1 B2 B3 B4 B6 B1 B2 B3 B4 B6 6. bidding round 5. bidding round 4. bidding round 2. bidding round If the sum of all placed bids in the bidding round is lower than the available capacity (undersell) the auction closes and the capacity is allocated The clearing price of the auction is P 5 (regulated tariff plus one large and three small price steps) Amount Legend: P 0 B1 - Bn Regulated Tariff Bid 1 to Bid n 6. Bidding round: 3rd small price step is applied B6 does not place a bid Sum of all bids is smaller than the avail. capacity (undersell) The auction closes at clearing price P5 135

136 Ascending Clock Algorithm The ascending clock algorithm is used for yearly, quarterly, and monthly products. General information Example 1: Clearance after first bidding round Example 2: Oversell after first bidding round Example 3: Undersell after third bidding round Example 4: Bundled auctions (1:n and competing auctions) 136

137 Introduction Country 1 Market Zone A border Country 2 Market Zone B IPb_TSO2_EXIT B IPa_TSO1_ENTRY AB A AC C IPc_TSO3_EXIT To market bundled capacities two additional network points are created on the PRISMA platform The additional network points use the master data of the underlying unbundled network points 137

138 Different Capacity Situations at Bundles 138

139 Competing Auctions The two auctions at the bundle AB and AC take place in parallel on the PRISMA platform, according to the rules and procedures of a standard competing clock auction as described in the NC CAM. After each bidding round the results are analysed and it is checked whether the competition constraint - available capacity at A (100) - is solved. In case the competition constraint is solved, the competition is removed and the auctions continue independently until the capacity is allocated. 139

140 Competing Auctions The aggregated demand of bundle AB and AC is bigger than the competition constraint (AB +AC > A). The competition constraint is not solved, therefore the next bidding round is necessary. In the next bidding round the first large price step is applied to both auctions. 140

141 Competing Auctions The aggregated demand of bundle AB and AC is bigger than the competition constraint (AB +AC > A). The competition constraint is not solved, therefore the next bidding round is necessary. In the next bidding round the second large price step is applied to both auctions. 141

142 Competing Auctions The aggregated demand of bundle AB and AC smaller than the competition constraint (AB + AC < A). In order to solve the competition the auctions are split and continued independently from each other. Since AB is still in oversell the marketable capacity for AB stays 40 whereas AC is restricted to 60 which is the remaining part of the competition constraint (100). 142

143 Competing Auctions The auctions are continued independently from each other, the competition constraint is not relevant any more. AB is in undersell, therefore the first small price step is applied in the next bidding round. AC is in oversell, therefore the second small price step is applied In the next bidding round. 143

144 Competing Auctions Both auctions are in undersell therefore the auctions are finished. The capacity is allocated as follows: AB=39 (price P 5 ) and AC=55 (Price P 6 ). 144

145 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 145

146 Placing Bids Surcharge Shipper A Surcharge Shipper B Legend: Maximum amount Shipper 1 avail. capacity avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 Surcharge A1 A2 B1 B2 B3 Minimum amount Shipper 2 Amount Amount Amount The Shippers place their bids during the bidding round. Each bid contains a surcharge, a minimum amount and a maximum amount. Uniform price auctions only have one bidding round in which up to 10 bids (surcharge + amounts) can be placed. The evaluation of the placed bids and the allocation of capacity is done after the bidding round is closed. 146

147 Bid Consolidation and Ranking Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 B3 Minimum amount Shipper 2 Amount After closing the bidding round all received bids are evaluated. The auction algorithm ranks all bids (from all Shippers) according to the surcharge of the individual bid. Depending on the received bids the clearing surcharge is determined by either the fill-or-kill procedure or the prorata procedure. 147

148 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 148

149 Determination of the Clearing Price Example 1: fill procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 B3 Minimum amount Shipper 2 Amount B2 is the equilibrium bid, since the sum of the maximum amounts of A1, B1, A2 and B2 would exceed the available capacity. The fill procedure is used, because the sum of the maximum amounts of A1, B1, A2 and the minimum amount of B2 is not exceeding the available capacity. The clearing surcharge is set to the surcharge of B2. 149

150 Determination of the Clearing Price Example 1: fill procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 A1 B1 A2 B2 B3 clearing surcharge Maximum amount Shipper 2 Minimum amount Shipper 2 Amount All successful bids are allocated at the clearing surcharge. B2 is filled until the sum of the maximum amounts of A1, B1, A2 and the part of B2 equal the available capacity. 150

151 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 151

152 Determination of the Clearing Price Example 2: kill procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 B3 Minimum amount Shipper 2 Amount The minimum amount of B2 exceeds the available capacity, therefore it cannot be the equilibrium bid. B2 is taken out of the evaluation ( killed ). The auction algorithm looks for the next bid, which minimum amount added to the sum of A1, B1 and A2 would not exceed the available capacity. 152

153 Determination of the Clearing Price Example 2: kill procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B3 B2 clearing surcharge Minimum amount Shipper 2 Amount B3 is the equilibrium bid, since the sum of the maximum amounts of A1, B1, A2 and B3 does not exceed the available capacity. B3 is fully allocated. The clearing surcharge is set to the surcharge of B3. 153

154 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 154

155 Determination of the Clearing Price Example 3: pro-rata procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 A3 Minimum amount Shipper 2 Amount B2 and A3 are equally ranked bids, because they have the same surcharge. In this case the pro-rata procedure is used for the allocation. 155

156 Determination of the Clearing Price Example 3: pro-rata procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 A3 Minimum amount Shipper 2 Amount B2 and A3 are allocated pro-rata as long as the minimum amount is fulfilled for both bids 156

157 Determination of the Clearing Price Example 3: pro-rata procedure Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 A2 B2 A3 clearing surcharge Minimum amount Shipper 2 Amount The clearing surcharge is set to the surcharge of B2 and A3. 157

158 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 158

159 Determination of the Clearing Price Example 4: demand lower than available capacity Surcharge Legend: Maximum amount Shipper 1 avail. capacity Minimum amount Shipper 1 Maximum amount Shipper 2 A1 B1 clearing price = starting price Minimum amount Shipper 2 Amount In general the clearing surcharge equals the lowest surcharge of all successful bids. In case the demand is lower than the available capacity the starting price of the auction (e.g. regulated tariff) is the clearing price (no surcharge is applied). 159

160 Uniform Price Algorithm The uniform price algorithm is used for day-ahead and within-day products. Example 1: fill procedure Example 2: kill procedure Example 3: pro-rata procedure Example 4: demand lower than available capacity Example 5: bundled auctions (1:n and competing auctions) 160

161 Competing Auctions The two auctions at the bundle AB and AC take place in parallel on the PRISMA platform, according to the rules and procedures of a standard uniform price auction as described in the NC CAM. After the bidding round the results are analysed and it is checked whether the competition constraint - available capacity at A (100) - is solved. 161

162 Placing Bids Legend: Maximum amount Shipper 1 Minimum amount Shipper 1 Maximum amount Shipper 2 Minimum amount Shipper 2 Maximum amount Shipper 3 Minimum amount Shipper 3 The Shippers place their bids during the bidding round. Uniform price auctions only have one bidding round in which up to 10 bids (price + amount) can be placed. The evaluation of the placed bids and the allocation of capacity is done in three steps. 162

163 Intermediate Evaluation of Bids Legend: Maximum amount Shipper 1 Minimum amount Shipper 1 Maximum amount Shipper 2 Minimum amount Shipper 2 Maximum amount Shipper 3 Minimum amount Shipper 3 During the intermediate evaluation both auctions are evaluated independently. The maximum amount of the bid of Shipper 3 for bundle AC is exceeding the available capacity and is amended to 10 in order to meet the available capacity (taking into account, that the minimum amount of the bid is still met). 163

164 Bid Consolidation and Ranking Legend: Maximum amount Shipper 1 Minimum amount Shipper 1 Maximum amount Shipper 2 Minimum amount Shipper 2 Maximum amount Shipper 3 Minimum amount Shipper 3 In order to resolve the competition the two auctions have to be evaluated together. In preparation of the evaluation all bids that were placed are internally consolidated. 164

165 Determination of Clearing Price Legend: Maximum amount Shipper 1 Minimum amount Shipper 1 Maximum amount Shipper 2 Minimum amount Shipper 2 Maximum amount Shipper 3 Minimum amount Shipper 3 The consolidated bids are evaluated according to the rules and procedures described in the NC CAM. The maximum amount of the bid of Shipper 2 is allocated, since the Shipper is willing to pay a higher surcharge. The remaining capacity (20) is allocated according to the rules of NC CAM. In this case the allocation is done pro-rata to the remaining bids (40 and 10). 165