THE SPANISH ENERGY MARKETS General overview

Transcripción

1 THE SPANISH ENERGY MARKETS General overview STRENGTHENING THE BULGARIAN ENERGY REGULATOR Rafael Durban Romero Director of External Affairs & Information services Spanish National Energy Commission SOFIA, 7-8 February 2006

2 THE ELECTRICITY INDUSTRY. THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES Main figures THE ELECTRICITY CHANNEL Generation Transmission Distribution Consumption Inicio Indi dice Salir 2

3 THE ELECTRICITY INDUSTRY. THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES Main figures Generation Energy and power capacity DECEMBER 2005 Inicio Capacidad (MW) Indi dice Salir Energía (10 6 Kwh) Hidráulicas ,4 Térmicas ,5 Carbón ,6 Nuclear ,9 Gas / Fuel ( CCG) Régimen Especial (9.653 EOL) TOTAL (10,3 %) ( CCG) ( EOL) (5.2%) % 22,0 19,

4 THE ELECTRICITY INDUSTRY. THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES Main figures Inicio Indi dice Salir 4

5 THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES HIGH VOLTAGE NETWORK, V> 220 KV 400kV 220 kv Km línea Transmission % REE 99,8 98,6 Capacidad Transform. (MVA) % REE 98,6 - Inicio Indi dice Salir 5

6 THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES HIGH VOLTAGE NETWORK, V> 220 KV Transmission Inicio Indi dice Salir 6

7 THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES Energy served: : Gwh Year 2004 Distribution % Energía Distribuida Iberdrola 39,6% Endesa 38,3% Unión Fenosa 14,8 % H. Cantábrico 4,2% E. Viesgo 2,3 % Red Eléctrica 0,9 % SCLBCE SF. Asís/Fuerzas s/fuerzas Eléctricas de Valencia 0,1 / 0,1 % Inicio Indi dice Salir 7

8 THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES DISTRIBUTION Hidrocantábrico Viesgo Viesgo Unión Fenosa Viesgo Unión Fenosa Viesgo Grupo Endesa - Iberdrola Iberdrola Iberdrola Grupo Endesa Grupo Endesa Iberdrola Unión Fenosa Iberdrola Iberdrola Iberdrola Iberdrola Spanish main distribution firms Grupo Endesa Unión Fenosa Iberdrola Around 270 small distributors (2% of energy) Grupo Endesa 5 big distribution companies Iberdrola and Endesa share 76% 8

9 THE ELECTRICITY INDUSTRY. THE SPANISH ELECTRIC SYSTEM. MAIN FIGURES Main figures Electricity regulated and liberalised supply. High & low voltage network connections Mercados de suministro de electricidad en la zona peninsular. Año 2005 Tipo de suministro Mercado regulado Baja tensión Alta tensión No. suministros % Energías (Gwh) % , , Consumption Mercado liberalizado Baja tensión Alta tensión Mercado total Baja tensión Alta tensión , , , , Inicio Indi dice Salir 9

10 THE ELECTRICITY INDUSTRY. Regulatory Model Short Description REGULATORY FRAMEWORK. PRECURSORS. INTEGRATED SYSTEM. THE NEW REGULATORY FRAMEWORK. TRANSITION MEASURES. COST OF THE SYSTEM. 10

11 THE ELECTRICITY INDUSTRY. Regulatory Model Short Description REGULATORY FRAMEWORK. PRECURSORS. INTEGRATED SYSTEM. THE NEW REGULATORY FRAMEWORK. TRANSITION MEASURES. COST OF THE SYSTEM. 11

12 REGULATORY FRAMEWORK. PRECURSORS. INTEGRATED SYSTEM. START POINT, before INTEGRATED SYSTEM - Integrated exploitation - Regulated remuneration of utilities - Vertically integrated companies - Regulated tariffs 12

13 REGULATORY FRAMEWORK. THE NEW REGULATORY FRAMEWORK (I) Spanish Electricity Act 54/1997 Guarantee of power supply Indicative and mandatory planning Free installation and Authorization procedure Capacity payment Independent System Operator Guarantee of quality Available incentives Maximum remuneration vs. minimum quality Guarantee of lowest possible cost to the consumer Competition of liberalized activities Efficiency and transparency of regulated activities Taking into account of environmental protection 13

14 REGULATORY FRAMEWORK. THE NEW REGULATORY FRAMEWORK (II) A wholesale electricity market Market Operator (organized wholesale market) Bilateral physical contracts System Operator (security and reliability of the system). Administrative authorization Legal unbundling between liberalized and regulated activities. Regulated TPA is established. Increasing of eligibility (qualified consumers): European Directive: 1999: 40 GWh/year 2002: 20 GWh/year 2005: 9 GWh/year 14

15 REGULATORY FRAMEWORK. THE NEW REGULATORY FRAMEWORK (III) Offers GENERATORS ORDINARY REGIME CROSS BORDER EXCHANGES SPECIAL REGIME OTHER TRANSMISSION COMPANIES TRANSMISSION RED ELECTRICA TSO Offers OK MARKET OPERATOR DISTRIBUTORS Demand RETAILERS Energy REGULATED MARKET... FREE MARKET Information 15

16 REGULATORY FRAMEWORK. THE NEW REGULATORY FRAMEWORK (IV) Quite positive Designed mechanisms are functioning correctly. Decisions based on the market signals. Demand has been covered satisfactorily. Power plants are producing based on their costs. Eligibility is increasing very rapidly. Large increase in the special regime production Lower electricity prices Other changes More competition have not been realized yet due to: Change in technology Environmental improvement Large degree of concentration of electricity production. CTCs protect certain existing firms. Small capacity of international interconnections. Growing demand and not technologic changes 16

17 REGULATORY FRAMEWORK. THE NEW REGULATORY FRAMEWORK (V) CHANGES DUE TO LIBERALIZATION Change in risk allocation. Change in dispatch and planning criteria. Change in the role and capabilities of the regulator. Change in the demand. EFFECTS Change in the technology portfolio towards low private cost and less capital intensive technologies (natural gas combined cycles). Less direct capability. Prices signal. 17

18 REGULATORY FRAMEWORK. TRANSITION MEASURES. SHAREHOLDERS: CONSUMERS: Competition transition compensations (max. amount, 10 years) Price reduction Regulated tariffs are maintained SUPPLIERS: Coal: compensations for 10 years Gas: gradual deregulation COGENERATION: Compensations for 10 years 18

19 Spanish electricity Act Basic policies. Wholesale Market Phisical Market(*) Organized Market (*) Free Market: Bilateral contracts -daily -intraday -ancillary services -constraint management Financial Market - contracts for differences -forward - options & futures (*) Capacity payment added to market price Retail Market Contracts between elegible consumers and retailers, distributors or generators 19

20 GENERATOR GENERATOR GENERATOR physical bilateral contract physical bilateral contract POWER EXCHANGE QUALIFIED CONSUMER WHOLESALE MARKET RETAILER DISTRIBUTOR/ RETAILER RETAIL MARKET QUALIFIED CONSUMER QUALIFIED CONSUMER NON QUALIFIED CONSUMER 20

21 Evolution. Electricity retail market (II) Regulated Market liberalised Market 21 21

22 REGULATORY FRAMEWORK. COSTS OF THE SYSTEM IN 2005 Costs Thousand of % Generation Costs % Transmission Costs % Distribution Costs % Retailing Costs % Incentives to promote cogeneration and renewables % Supply Diversification and Security Costs % Nuclear Moratorium % Uranium base Stock % Cost of the compensation for interrumpibility, purchase of electricity from generation facilities operating under the special regime and other compensations % Permanent Cost % Off - peninsular compensation % System Operator % Market Operator % National Energy Commission % Income imbalance before 2003 in the settlement procedure and review of off-peninsular generation cost of 2001 and % Cost for the transition to competition % Export Incomes % Doubly entered costs % Total Costs % Sources: MITC

23 REGULATORY FRAMEWORK. COSTS OF THE SYSTEM IN 2005 CAPACITY PAYMENT DAD M M PRODUCTION Precio Market del mercado prices Costes RegulatedCosts Regulados STRANDED CTCs y Déficit COST M M EXTRA COSTES NUCLEAR NUCLEAR AND OTHERS M Compens ISLANDS. Islas M PRIMAS PREMIUM Rég Special. Especial Regimen M M... WHOLESALE MARKET MERCADO M TRANSPORTE TRANSMISION M FINAL CONSUM. CONSUMER DISTRIBUTION C ION M SUMINISTRO SUPPLY M M INSTITUTIONS INSTITU CION ES M TOTAL M 2005 Electricity system 1 23

24 Regulated and free prices (II) Energy Capacity charge (long term guarantee of supply) Ancillary services costs Extra costs due to technical constraints Network losses Transmission and Distribution network charges Regulatory charges: Institutions (Market Operator, System Operator and Regulatory Commission) Incentives to promote cogeneration and renewables Domestic coal support, nuclear moratorium & other nuclear costs Compensations to non peninsular territories Stranded costs: competition transition charges Income imbalance before 2003 Retail charges ACCESS CHARGES (for qualified consumers) FINAL TARIFF (for non qualified consumers) 24

25 Regulated and free prices (II) Energy Capacity charge (long term guarantee of supply) Ancillary services costs Extra costs due to technical constraints Network losses Transmission and Distribution network charges Regulatory charges: Institutions (Market Operator, System Operator and Regulatory Commission) Incentives to promote cogeneration and renewables Domestic coal support, nuclear moratorium & other nuclear costs Compensations to non peninsular territories Stranded costs: competition transition charges Income imbalance before 2003 Retail charges ACCESS CHARGES (for qualified consumers) FINAL TARIFF (for non qualified consumers) 25

26 Access Tariffs instead of Transmission Tariffs (II) TOTAL COST INCLUDED IN SPANISH ACCESS TARIFF Costs Miles de Euros % Transmission Costs % Distribution Costs % Retailing Costs % Incentives to promote cogeneration and renewables % Supply Diversification and Security Costs % Nuclear Moratorium % Uranium base stock % Cost of the compensation for interumpibility, purchase of electricity from generating facilities operating under the special regime and other compensations % Permanent Costs % Off - peninsular compensation % System Operator % Market Operator % National Energy Commission % Income imbalance before 2003 in the settlement procedure and review of off-peninsular generation costs of 2001 and % Costs for the transition to competition % Total Costs % 26

27 Electricity & Natural gas retail markets (III) Electricity and natural gas markets share September 2005.In energy... Liberalised Regulated 41,4 % Natural gas 16,3 % Electricity Liberalised 83,7 % Regulated 59,6 % 27

28 Introduction: Overview (II) More options for consumers 28 28

29 Evolution. Electricity retail market (I) 29 29

30 Evolution. Electricity price retail market (V) Evolución precios regulados para el suministro de electricidad (Cent Euro / Kwh) Precio regulado Tarifa integral Tarifa de acceso Año 2000 Año 2001 Año 2002 Año 2003 Año 2004 Año 2005 (*) 7,8 7,72 7,74 7,85 7,89 7,91 1,39 1,42 1,53 1,66 1,91 2,15 Precios en Cent. Euro /kwh Evolución de los precios regulados para el suministro de electricidad Año 2000 Año 2001 Año 2002 Año 2003 Año 2004 Año 2005 (*) (*) Datos correspondientes al periodo Enero - Junio 2005 Tarifa integral Tarifa de acceso Periodo analizado Indices en % Evolucion relativa de los precios regulados para la electricidad Año 2000 Año 2001 Año 2002 Año 2003 Año 2004 Año 2005 (*) Periodo analizado Tarifa integral Tarifa de acceso (*) Datos correspondientes al periodo Enero - Junio

31 Evolution. Gas retail market: (I) 31 31

32 Evolution. Gas retail market: (II) Regulated Market liberalised Market 32 32

33 Evolution. Gas price retail market: (V) Evolución precios regulados para el suministro de gas natural (Cent Euro / Kwh) Precio regulado Tarifa integral Tarifa de acceso Año 2002 Año 2003 Año 2004 Año 2005 (*) 2,29 2,75 2,82 2,95 0,23 0,24 0,31 0,35 Evolución de los precios regulados pra el suministro de gas natural Precios en Cent. Euro/kWH 3,5 3 2,5 2 1,5 1 0,5 0 Año 2002 Año 2003 Año 2004 Año 2005 (*) (*) Datos correspondientes al periodo Enero - Septiembre 2005 Tarifa integral Tarifa de acceso Periodo analizado Indices en % Evolución relativa de los precios regulados para el suministro de gas natural Tarifa integral Tarifa de acceso 20 0 Año 2002 Año 2003 Año 2004 Año 2005 (*) Periodo analizado (*) Datos correspondientes al periodo Enero - Septiembre

34 Electricity & Natural gas retail markets (I) Global Regulated and Liberalised markets share (electricity and natural gas) September 2005.In energy Desglose de la energía suministrada en los mercados regulado y liberalizado de electricidad y de gas natural ( ) Suministro de energía Suministro de electricidad Suministro de gas natural Todos los suministros de Elec & Gas n Mercado regulado Mercado ATR liberalizado Mercado Total Mercado ATR Energía (Gwh) % Energía (Gwh) % Energía (Gwh) % s/ mercado total , , ,70 41, , , ,30 83, , , ,00 68,15 34

35 Electricity & Natural gas retail markets (II) Evolution of global Regulated and Liberalised markets share (electricity and natural gas) September 2005.In energy 90 Evolución del ratio (%) Energía suministrada en los mercados liberalizados / Total de energía suministrada. 30 de Septiembre de Ratio en % Ele ctricidad Gas natural Toda la energía 0 Dic._2003 Mar._2004 Jun._2004 Sept._2004 Dic._2004 Mar._2005 Jun._2005 Sept._2005 Periodo analizado 35

36 Electricity & Natural gas retail markets (III) Electricity and natural gas markets share September 2005.In energy... Liberalised Regulated 41,4 % Natural gas 16,3 % Electricity Liberalised 83,7 % Regulated 59,6 % 36

37 Electricity & Natural gas retail markets (IV) Global Regulated and Liberalised markets share (electricity and natural gas) September 2005.In Number of supplies Desglose del numero de suministros según su aprovisionamiento en los mercados regulado y liberalizado de energía ( ) Numero de puntos de suministro Suministro de electricidad Suministro de gas natural Todos los suministros de Elec & Gas n Mercado regulado Mercado ATR liberalizado Mercado Total Mercado ATR s/ mercado total No. Sum. % No. Sum. % No. Sum. % (%) , , ,88 10, , , ,12 32, , , ,00 14,79 37

38 Electricity & Natural gas retail markets (V) Evolution of global Regulated and Liberalised markets share (electricity and natural gas) September 2005.In Number of supplies 35 Evolución del ratio Nº suministros en los mercados liberalizados / Nº Total de suministros. 30 de Septiembre de Ratio en % Electricidad Gas natural Todos los suministros 0 Dic._2003 Mar._2004 Jun._2004 Sept._2004 Dic._2004 Mar._2005 Jun._2005 Sept._2005 Periodo analizado 38

39 Electricity & Natural gas retail markets (VI) Electricity and natural gas markets share September 2005.In number of supplies... Liberalised3 2,3 % Liberalised 10,4 % Natural gas Electricity Regulated 67,7 % Regulated 89,6 % 39

40 Loyalty rate on Electricity & Gas retail markets (I) Electricity Free market september 2005 Cambio de comercializador. Numero de consumidores. Primer semestre de 2005 Tipo de consumidor Total % Domésticos Suministro en el mercado lib. % Suministro con comercializador mismo grupo distribuidor , , % Suministro con otros comercializadores % Pyme s B.T. Media Tensión, T< 36 kv Alta Tensión, T> 36 kv Todos los suministros , , , , , , , Cambio de comercializador. Energía consumida (GWh). Primer semestre de 2005 Tipo de consumidor Total % Suministro en el mercado lib. % Suministro con comercializador mismo grupo distribuidor Domésticos Pyme s B.T % Suministro con otros comercializadores % Media Tensión, T< 36 kv Alta Tensión, T> 36 kv Todos los suministros , ,5 40

41 Loyalty rate on Electricity & Gas retail markets (II) NG Free market september 2005 Estructura de comercialización en el mercado final por clientes 100% 90% 80% 70% 60% Estructura de comercialización en el mercado final por consumo facturado 50% 40% 30% 20% 10% 0% Grupo Gas Natural Grupo Naturcorp Resto 100% 90% 80% 70% 60% Mercado liberalizado propio Mercado liberalizado ajeno 50% 40% 30% 20% 10% 0% Grupo Gas Natural Grupo Endesa Grupo Naturcorp ENAGAS Resto Mercado regulado Mercado liberalizado propio Mercado liberalizado ajeno 41

42 Evolution of relevant rates on Electricity & Gas retail markets (I) Electricity & natural gas Free markets september 2005 LOS CONSUMIDORES Y LOS MERCADOS DE ELECTRICIDAD Y DE GAS NATURAL. PRINCIPALES INDICADORES MERCADO ELECTRICO MERCADO DEL GAS NATURAL PERIODO Mercado regulado Mercado liberalizado Mercado regulado Mercado liberalizado Indice fidelización (%) Part. suministros (%) Part. energía (%) Part. suministros (%) Part. energía (%) Indice de lberalizacion en terminos de suministros (%) Indice de lberalizacion en terminos de energía (%) Part. suministros (%) Indice de lberalizacion en terminos de suministros (%) Indice de lberalizacion en terminos de energía (%) ,99 0 0, na na na na na na na ,96 0 0, , na ,94 0 0,06 18,6 50, , , , , , , , , , , , ,3 66,75 0,7 33,35 0,7 33, , , , , ,27 66,4 5,73 33,6 5,73 33, , , , , (*) 90,58 64,6 9,42 35,4 9,42 35,4 73,5 71, , , ,7 Part. energía (%) Part. suministros (%) Part. energía (%) Indice fidelización (%) (*) Datos relativos al periodo Enero - Junio

43 Evolution of relevant rates on Electricity & Gas retail markets (II) Electricity & natural gas Free markets september 2005 Evolución de algunos indicadores relevantes del proceso de liberalización del mercado eléctrico 120 Part. suministros (%) / MR 100 Part. energía (%) / MR Indices en % (*) Part. suministros (%) /ML Part. energía (%) / ML Indice de lberalizacion en terminos de suministros (%) / ML Indice de lberalizacion en terminos de energía (%) / ML Indice fidelización (%) / ML Periodo analizado 43

44 Evolution of relevant rates on Electricity & Gas retail markets (III) Electricity & natural gas Free markets september 2005 Evolución de algunos indicadores relevantes del proceso de liberalización del mercado del gas natural 120 Part. suministros (%) /MR 100 Part. energía (%) /MR Indices en % Part. suministros (%) /ML Part. energía (%) /ML Indice de lberalizacion en terminos de suministros (%)/ML 20 Indice de lberalizacion en terminos de energía (%)/ML (*) Indice fidelización (%) /ML Periodo analizado 44

45 Preparations adopted for the full eligibility Information/ communication initiatives by CNE Website on eligibility 2003 Helpline to provide service at a national level Seminars for Regional Administration staff and consumer associations organised all over the country

46 MORE INFORMATION, CONTACT TO: Rafael Durban Romero Tfno: Fax: dre@ cne.es Comisión Nacional de Energía C/ Alcalá, Madrid. Access to WEBSITE- (Spanish Energy Regulatory Commission) Access to WEBSITE- (Council of European Energy Regulators) Access to WEBSITE- (Latinoamerican Energy Regulators) 46

47 END OF THE PRESENTATION THANK YOU 47