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| This is an informative document and does not replace the regulation issued by the CREG. |
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| The Contingency Mechanisms
Secondary Market for Firm energy |
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The secondary market for firm energy is a bilateral contracts market, where only the generators participate. The ones who offer are those generators with firm energy that have not been engaged in the auction or have not been committed in secondary market contracts [ * ] and the ones who demand are those that temporarily need ENFICC to comply with their OEFs.
When a generator anticipates that it is not capable of generating sufficient energy to comply with its OEF, or when it schedules the maintenance of one of its generation plants or units, it can go to this market to negotiate with another generator to totally or partially back-up its obligation. The agreement that is formalized in this negotiation is known as Back-up Contract. In this market also, the support among generation plants or units of the same owner or commercial representative is registered. These agreements among different generation plants and units of the same owner or commercial representative are denominated Declarations of Support.
For these back-up contracts and declarations of support to be considered by the ASIC at the time of the verification of the generator’s compliance with its OEF and the settlement of the Reliability Charge, these agreements should be registered in the information system of the secondary market. In this system, the energy offers and the identity of the suppliers are published. The prices of back-up negotiations are also published but the identities of the parties involved are allowed anonymity.
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The generators with hydraulic generation plants can also make their offers in the secondary market for firm energy with their generation plants´ excess monthly supply which cannot be stored. This energy is known as Additional Available Energy. |
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