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| This is an informative document and does not replace the regulation issued by the CREG. |
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Firm Energy Obligation
Verification of the OEF |
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The owner of the OEF commits to generate daily, as required in the ideal dispatch, a certain quantity of energy up to the amount specified in the OEF. When the Spot Price exceeds the Scarcity Price, in order to verify that each generator has fulfilled its commitment, all the energy generated from all its plants at each hour of the ideal dispatch are added up. This total energy generated is added to the complementary energy that the generator acquires through the “Contingency Mechanisms”, which will be described later in this document. This total should at least be equal to the generator’s daily OEF; otherwise the generator should obtain the difference in the Energy Spot Market. If the generator has exhausted all the alternatives of the “Contingency Mechanisms” and the Spot Market and in the extreme case it still can not comply with its OEF, therefore causing a forced demand rationing, the generator is required to compensate the affected end-users.
Generation according to the Ideal Dispatch
In order to incorporate the different profiles of each generation resource (from generation plants or units that are able to produce electricity continuously for 24 hours to those that are dedicated to generating only during peak demand hours), and to promote the optimal utilization of resources to cover the demand, the OEF commits the generation company to produce daily a determined quantity of firm energy, without imposing the time this energy should be generated [ * ]. Given that generating companies are not in-charge of the transmission network, and therefore are not responsible for the physical or technical restrictions that may occur in this network, the corresponding energy required in the ideal dispatch from each generator will be the one considered in verifying whether the generators complied with their OEFs.
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Only when the generator does not comply with its daily OEF, an hourly verification takes place. |
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