WATT+VOLT has already been granted a RES Aggregator license of 350MW total capacity from RAE. WATT+VOLT holds numerous advance tools and is able to provide the following services to RES assets owners:
- Certified traders for representation and participation of RES assets to the wholesale market, in competitive costs
- Continuous market analysis and submission of energy injection orders for maximizing client’s economic benefit
- Use of advanced tools and algorithms for hourly production prediction of RES assets
- Fully coverage of balancing responsibility and costs, without extra fees for the client
- Data collection of production measurements from RES assets
- Monitoring of RES assets operation
- Periodic reports covering the evaluation of RES assets participation to the market and the presentation of basic market KPIs
- Management of the clearing processes, in terms of energy production measurements, billing and cash flows, directly, transparently and without extra fees
- Direct and constant communication with the client
- Optionally and after contacting the customer, O&M services offer in competitive prices, for achieving RES assets optimum performance
What are the RES Aggregators and what is their role in the electricity market?
According to Target Model large RES assets are required to participate in the wholesale market having also the obligation of the balancing responsibility. This means that a RES owner should cover the costs derived from the deviation between the declared and injected energy to the grid.
Therefore, the direct participation of RES assets to the electricity market turns to be a complicated process since the accurate power production prediction, the minimization of deviations and the balancing costs total coverage require the use of advanced tools and comprise an economical risk. So, the representation services from RES Aggregators are of high importance.
In practice, as also stated in the EU Directive (Directive (EU) 2019/944), RES Aggregators are market entities which are going to lead in fully participation of RES assets in the electricity market. Based on the use of advanced tools and innovative algorithms the power production prediction is to be optimized and the balancing costs are to be minimized. Towards the whole process, RES Aggregator ensure the direct participation of RES assets to the Energy Exchange through submission of competitive orders, leading to higher economic benefits for RES owners, by exclusively undertaking the costs due to imbalances.
What is the Target Model and how affects the participation of RES and HCHP assets in the electricity market?
For the integration of the European Markets, the Agency for the Cooperation of Energy Regulations (ACER) has proposed a single European market model, also known as Target Model. Within the implementation of the Target Model the enhancement of the Transmission System is optimized, the Day-Ahead Market liquidity and capacity distribution of the coupling connections is achieved and the proper operation of the Derivatives and Intra-Day Market is succeeded. The Target Model provides the operation of the Energy Exchange along with the establishment of four new markets:
- Wholesale Market for Forward Electricity products
- Day Ahead Market
- Intra-Day Market – Continuous
- Balancing Market
As stated in the Target Model, RES technologies should have an active participation role in the energy market. In particular, according to Article 5 of Law 4414/2016, the following RES and HCHP assets are obliged to participate in the electricity market:
- Assets owners who have entered into a Contract for Differential State Aid Support (SEDP) with the Operator of Renewable Energy Sources and Guarantees of Origin (DAPEEP)
- Assets owners who have entered into a contact for selling electricity in accordance with Article 12 of Law 3468/2006 or similar contract for the sale and/or purchase of electricity prior to Law 3468/2006 and assets which are continuing to operate after the expiry date of the respective contracts, provided all permits and authorizations required by applicable law are still valid (Article 3(19) of Law 4414/2016
- RES and HCHP assets owners who participate directly to the electricity market, without receiving any aid support according to Article 12 A of Law 4414/2016
After the complete implementation of the Target Model, RES assets owners are going to be fully responsible for the deviations between the declared and injected energy to the Day-Ahead Scheduling. Practically, the RES asset owner has to fully cover the imposed balancing costs.
Why WATT+VOLT for RES Aggregator?
WATT+VOLT is a leader provider in the Greek energy market. Since 2011 it provides electricity and gas to more than 200,000 households, business and commodities in the Greek region, both in mainland system and non-interconnected islands.
Since 2013 WATT+VOLT is active in cross border energy trading, gaining an important experience in that field, being one of the most important market plyers in terms of energy volumes transactions in the region of Southeast Europe. WATT+VOLT Group of Companies is having an intensive participation in the Energy Exchanges of Italy (Gestire del Mercato Elettrico – GME), Hungary (Hungarian Power Exchange – HUPX), Bulgaria (independent Bulgarian Exchange – IBEX) and Greece (Hellenic Energy Exchange – HEnEx), where its certified traders submit Buy and Sell orders. In addition, an extensive network of branches and OTC companies in Serbia, Bulgaria, Albania and FYROM is used for performing the cross border energy transferring. WATT+VOLT became the first Greek company which has been granted a membership from the European Energy exchange (EEX), the largest European Energy Exchange. This membership has allowed WATT+VOLT to gain access to high liquidity financially markets (i.e. German and French energy market) and products (i.e. natural gas, oil and EUAs).
For more information, please contact us at (+30) 2130 189 294 or email us at [email protected]
WATT+VOLT offers tailored solutions and services for your RES assets.