Intra-Day Trading Project Market Participant Technical Overview 3 rd August 2011, 10.30 am – 13:00 pm Conference call number: 00353 1 6647777, pin: 79592.

Intra-Day Trading Project Market Participant Technical Overview 3 rd August 2011, 10.30 am – 13:00 pm Conference call number: 00353 1 6647777, pin: 79592

Welcome 2  Welcome to this information session on the Intra-Day Trading project.  The IDT project is a significant change to the SEM and SEMO has established the following workstreams to deliver the project to the timelines requested by the SEM Committee:  Modification Development;  Operations Readiness; and  Systems Implementation.  Objectives of this meeting:  The main objectives of this session are to inform Participants on the:  Latest information on the IDT project across all SEMO workstreams;  Main changes at a high-level that will have Participant impacts (both functional and technical);  Project Schedule; and  Communications framework for the duration of the Project.  This session will not will not cover in depth the business rationale behind IDT – this is covered within the remit of the Modifications Committee.  SEMO would strongly urge all Participants to keep themselves fully informed as to the discussions held and decisions made at the Modifications Committee as these will form the basis of the final solution.

3 Agenda High level overview of Intra-Day Trading (IDT) High level overview of the Auction Management Platform Overview of IDT functional changes Overview of IDT technical changes Project schedule Project communications and engagement Business operational readiness Questions and answers

The EU is moving towards greater integration of electricity market arrangements to facilitate greater trading across Europe (Regulation 714/2009 of the European Parliament and Council ) EU Congestion Management Guidelines require re-allocation of unused Interconnector capacity on both D-1 and D Definition (art. 2.2 (c)): "congestion" means a situation in which an interconnection linking national transmission networks cannot accommodate all physical flows resulting from international trade requested by market participants, because of a lack of capacity of the interconnectors and/or the national transmission systems concerned. Why Intra-Day Trading?

Ireland Infringement Letter - June 2010 Continuing infringement cases against Ireland for violating Electricity Regulations. Issues: 1) no intra-day congestion management mechanism 2) no common co-ordinated congestion management method Congestion

SEM Committee Decision (SEM-10_011 March 2010) RAs to develop a Modification to facilitate intra-day trading RAs to set up a Working Group to discuss proposal and alternatives RAs to bring a proposed Modification (agreed by the Modifications Committee) to the SEM Committee, no later than September 2010. Regulatory Authorities raised Modification Mod_18_10 in March 2010 Development of Intra-Day Trading

The Modifications Committee established a Working Group Widespread involvement from across the industry Agreement of working assumptions on all major design components Phase 1 : High Level Design Working Groups 1 to 7 25 Nov 2010 Modifications Committee Meeting 32 – Modifications Committee unanimously recommended to approve High Level Design 04 March 2011 SEM Committee approve implementation of High Level Design 01 Feb 2011 Modifications Committee Meeting 33 – SEMO to develop legal text based on High Level Design Activities since SEM Committee decision

Phase 2 : Detailed Design 10 May 2011 Working Group 8: Functional Group 1 (Registration and Participant Submissions) 29 June 2011 Working Group 9: Functional Group 3 (Settlement and Credit Risk Management) 27 Sept 2011Working Group 10: Functional Group 2 (Other Data Transactions, MSP Software Operation, Reports and Publications, New Query Types) 10 Nov 2011 Working Group 11: Recap of design, comments to be addressed and issues resolved 06 Dec 2011 Modifications Committee Meeting: Completed Mod_18_10 to be presented All details of Presentations, Working Group reports, Meeting Minutes etc. published on Intra-Day Trading section of SEM-O website: http://www.sem-o.com/MarketDevelopment/Pages/Modifications%20Projects.aspx Phase 2 of Mod_18_10 Development

Proposed SEM Intra-Day Trading Design: Three Gate Windows / Trading Windows Start Overlap Opt’n Period Trading Day - 1Trading Day Gate Window Closure (GWC) EA Gate Window Opening (GWO) as per current GWC EA2 GWO GWC WD1 GWO GATE WINDOW 10:00 TD-29 to 09:30 TD-1 GATE WINDOW 09:30 TD-1 to 11:30 TD-1 GATE WINDOW 11:30 TD-1 to 08:00 TD EA Trading Window EA2 Trading Window WD1 Trading Window Ending Overlap Opt’n Period Ending Overlap Opt’n Period Ending Overlap Opt’n Period EA Interconnector Unit trades fixed EA and EA2 Interconnector Unit trades fixed OPTIMISATION TIME HORIZON

Overview of IDT functional changes 12 REGISTRATION  No system changes. TRADING (Pricing and Scheduling)  Major change  5 Pricing Runs per Day (EA, EA2, WD1, EP1, EP2) instead of 3.  Day-Ahead Market: EA and EA2.  Within Day Market: WD1  Ex-Post Market (no changes): EP1 and EP2. Important Note: SEM systems are being upgraded to allow flexibility to include additional (>5) gates in the future, if such a change were to be directed by the SEM Committee. As such, it is recommended that Market Participant systems are also designed with similar flexibility.

Overview of IDT functional changes 13 BID SUBMISSIONS  BID submission for up to three runs per day (EA, EA2 and WD1)  EA market will open for bids as per existing timing (TD-29)  EA will close for COD bids at 09:30 TD-1.  EA will close for VTOD selection at 09:20 TD-1.  EA2 market will open for bids at 09:30 TD-1.  EA2 will close for COD bids at 11:30 TD-1.  EA2 will close for VTOD selection at 11:20 TD-1.  WD1 market will open for commercial bids at 11:30 TD-1.  WD1 will close at 08:00 on TD.  VTOD selection is not applicable to Within-Day trading window. The latest “Accepted & Utilised” VTOD set will be used. That is, from EA or EA2. Note: All markets will have the same number of intervals as existing Trading Days  48 for normal day, 46 for short day, 50 for long day

Overview of IDT functional changes 14 BID SUBMISSIONS – new elements  All COD submissions must include a new field: "GATE WINDOW"  GATE WINDOW possible values: EA, EA2, or WD1.  Interconnector COD will include an optional new field: “PRIORITY ORDER“.  Priority Order is used to prioritise Interconnector Units under the same Code Participant - required for Offered Exposure calculations for Credit Risk purposes.  Priority Order has default value = 1  More details on Interconnector Trading in later slides  VTOD Selection must include a new field: "GATE WINDOW" with possible values: EA or EA2.

Overview of IDT functional changes 15 NEW REPORTS / PUBLICATIONS  40 new reports – comprising:  30 reports based on 15 existing Ex-Ante reports (split out into EA, EA2, WD1)  15 new EA2 reports  15 new WD1 reports  Note: existing EA reports will have “EA” appended to the end of filename (example to follow)  4 brand new reports (which make up 10 reports)  “Excluded Bids” (3 HTML/XML versions: EA, EA2, WD1)  “Available Credit Cover” (5 HTML/XML versions: EA, EA2, WD[x], EP1, EP2)  “MSP Cancellation” (1 HTML/XML report, ad-hoc)  “Cancelled Reallocation Agreement” (1 CSV report, daily and ad-hoc)  EA, EA2 and WD1 reports will contain the full set of Trading Intervals as per existing EA reports.

Overview of IDT functional changes 16 CHANGED REPORTS / PUBLICATIONS (CONTENT)  27 reports with changed content (new fields)  The addition of one or all of the following elements:  RUN TYPE: represents the MSP Software run  GATE WINDOW: represents the Trading Window associated to the record  PARTICIPANT NAME: needed to identify interconnector units  Addition of DELIVERY_DATE, DELIVERY_HOUR, DELIVERY_INTERVAL to Generator COD report.  Addition of PRIORITY_ORDER to Interconnector COD report.  Addition of ISSUE_TIMESTAMP to “Daily Interconnector ATC Data” report.

Overview of IDT functional changes 17 CHANGED REPORTS / PUBLICATIONS (FILE NAMES)  Ex-Ante reports will include RUN TYPE in file name. Example: MI system, Pre-IDT Report File name: PUB_D_ExAnteMktSchDetail.xml After IDT implementation, the file names will be PUB_D_ExAnteMktSchDetail_EA.xml PUB_D_ExAnteMktSchDetail_EA2.xml PUB_D_ExAnteMktSchDetail_WD1.xml On the public website, Pre-IDT file name: http://www.sem-o.com/MarketReports/StaticReports/EX-ANTE INDICATIVE MARKET SCHEDULE_20110727_20110728_113015.XML After IDT Implementation, the file names will be http://www.sem-o.com/MarketReports/StaticReports/EX-ANTE INDICATIVE MARKET SCHEDULE_EA_20110727_20110728_113015.XML http://www.sem-o.com/MarketReports/StaticReports/EX-ANTE INDICATIVE MARKET SCHEDULE_EA2_20110727_20110728_113015.XML http://www.sem-o.com/MarketReports/StaticReports/EX-ANTE INDICATIVE MARKET SCHEDULE_WD1_20110727_20110728_113015.XML  Timing of publications will be confirmed in the MPUD.  Note: 68 reports are not changing format or content or filename.

Overview of IDT functional changes 18 FUNDS TRANSFER  No system changes. SETTLEMENTS  No changes for non-Interconnector Users  For Interconnector Users:  3 Interconnector Units per Interconnector User per Interconnector  The 3 Interconnector Units are virtual units to enable bidding in each Gate Window (EA, EA2, WD1)  Statements, Invoices and Settlement reports will include the 3 Interconnector Units CREDIT COVER  Some change – to be discussed in Business Readiness section later.

Overview of IDT technical changes 20  Refresh of the Central Market Systems Infrastructure (Production and Test).  Drivers  Current CMS hardware reaches “end-of-life” when IDT goes live.  IDT design changes take advantage of the latest hardware and 3 rd party applications.  The IDT design requires a greater level of reliability, performance and flexibility.  New IDT design will reduce the market outage deployment windows for future releases.

Overview of IDT technical changes impacting Participants 21  Type 2 – Client Changes  New browser version IE 8 (Current version is IE 7)  Formsplayer 1.0.19 (backplanebx)( Current version is Ubiquity 1.8.1027)  Java 1.6.0.17 (no change)  Windows 7 or Windows XP SP3 – running IE8  Type 3 – System to System changes  None. Important Current CMS will not support IE 8 or Formsplayer 1.0.19. Therefore Participant changes must take place at the same time as IDT cut-over.

Project Schedule summary 23

Project Milestones - Approval 24  SEMC approval to implement Mod_18_10: Intra-Day Trading was received on March 4 th, 2011 and stipulated the following:  The implementation will reflect the High Level Design Summary as proposed by the Modifications Committee following an extensive working group consultation which had widespread involvement from across the Industry;  The CMS changes which are required for Intra-Day Trading will be developed in parallel with Modification Committee discussions on the required drafting to the TSC. All changes to the TSC will be subject to a final Modifications Committee vote and subsequently approved or otherwise by SEMC, as is the normal process; and  The timeframe for rollout of the Intra-Day Trading solution will be mid-2012.  Mod_43_10: Price Taker Generator Units and Firm Access was approved by the SEMC on June 7 th. Our vendors have confirmed there is sufficient capacity available for this change and it has been included in scope.  Note the Release Cut-Off Date for the SEM R2.0.0 release to the CMS is August 5 th, 2011.

Project Milestones – Detailed Requirements / Contract 25 Detailed Requirements phase: December 1 st 2010 to April 30 th 2011  Detailed Requirements derived from the High Level Design Summary as proposed by the Modifications Committee;  Five iterations of the Detailed Requirements Baseline, covering all subsystems, were generated.  Three workshops held with our vendors (December, January & April) to develop a common understanding of the Detailed Requirements;  Baseline 5.0 formed the basis of the Statement of Work with our vendors and was signed off at the end of April.  Contract was formally signed with our vendors mid-June following extensive discussions re the Statement of Work, Project Governance, schedule etc.

Project Milestones – Vendor Detailed Design Phase 26 Vendor Detailed Design phase: May 3rd to July 29 th 2011  Multiple iterations of review of vendor design documentation;  Week long face to face design walkthrough with vendors to:  Provide direction/clarification on detailed requirements; and  Ensure vendor and SEMO have a common understanding of the detailed requirements.  Detailed Design closed July 29 th – some immaterial comments outstanding which will be delivered in the “as built” documentation suite.

Project Milestones – Participant Design Deliverables – MPUD / MPI 27  MPUD (including XSD files): target publication date August 29 th 2011  The MPUD is a representation (translations) of the vendor design for Participant consumption.  As communicated at MOUG of July 19 th the MPUD will be re-engineered following consultation with Participants into a number of constituent documents as follows:  MPUD Overarching Document;  MPUD Market Interface Volume 1 (Trading and Registration);  MPUD Market Interface Volume 2 (Reporting); and  MPUD Technical Volume.  The MPUD will be subject to change as follows:  Possibility of late addition to scope, e.g. release cut-off date August 5 th etc.;  Development of Mod_18_10 in parallel introduces a possibility of change; and  Changes forced on our vendors as development progresses.  MPI User Guide: target publication date January 30 th 2012  This document will reflect the “as-built” systems (i.e. post development and delivery)  Predominantly geared towards Type 2 Participants.

Project Milestones – Factory Testing (FT) 28 Factory Test phase: November 14 th to December 23 rd  Conducted at vendor site;  Executed by vendors and witnessed by SEMO;  Scripted tests/scenarios approved by SEMO;  Objectives:  Test that the systems and software functions correctly in line with the agreed design  Demonstrate that the software can be delivered for System Integration Testing.  Strict Exit Criteria will apply before SEMO will accept delivery of software.

Project Milestones – System Integration Testing (SIT) 29 System Integration Test phase: January 3 rd 2012 to April 27 th 2012  Internal test phase conducted at SEMO site;  Fully scripted against agreed requirements and design;  Executed by SEMO (with the exception of UUC Certification), supported by our vendors;  Objectives:  Test that the systems and software functions correctly in line with the agreed design; and  Verify the integration of the systems with legacy systems and external interfaces.  This time period also encompasses a number of additional test phases:  Certification Testing (independent third-party verification of UUC);  TSO / IA Testing;  Technical Testing; and  Performance Testing.

Project Milestones – Market Trial (MT) 30 Market Trial: Preparation – January 27 th to April 30 th 2012 Execution – April 30 th to July 6 th 2012  Industry wide test phase, managed and co-ordinated by SEMO  Will have a dedicated test team  Consultation with Industry will begin in January 2012  Objectives:  test the inter-operability of participant systems and processes with the CMS;  test compliance of the participant business systems and processes with their obligations as defined in the T&SC; and  test all market procedures and the ability of Market Participants and SEMO (in its role as Market Operator) to follow these procedures.  Full simulation of Market Operations including Market Participants, TSOs, IA etc.  Fully scripted against agreed requirements and design.  IDT Participant Training will be held in advance (early April).  Connectivity testing one week prior to execution phase.  Environment available for ad-hoc testing post Market Trial and before deployment.

Project Milestones – Deployment 31 Proposed deployment date is July 20 th 2012 subject to:  successful completion of all phases of testing; and  all parties have indicated readiness to proceed with deployment.

October 2012 release to the Central Market Systems 32  When considering work programmes and resources for the IDT release, Participants should note that the October 2012 release (SEM R2.1.0) to the Central Market Systems will proceed as scheduled.  The Release Cut-Off Date for SEM R2.1.0 is Friday November 18 th, 2011.

Project Communications and Engagement – Systems Group (1 of 2) 34  To ensure effective and clear communication of project progress and activities SEMO will adopt the following communications strategy for the duration of the project:  Monthly Project Management Forum (PMF) meetings and/or conference calls to:  Deliver project progress updates;  Communicate upcoming activities;  Communicate changes (if any); and  Discuss any topics as requested by Market Participants.  Face to Face Meetings will alternate between Dublin and Belfast.  Meetings will commence approximately 2 weeks after the MPUD is initially issued.  Dedicated design workshops to cover MPUD and technical changes (number and dates to be confirmed).  Normal updates will also be communicated via:  The MOUG meetings and conference calls; and  The SEMO website (www.sem-o.com).  Note Market Trial will have a dedicated and separate communications plan which will be consulted on in January 2012.

Project Communications and Engagement – Systems Group (2 of 2) 35  At key milestones of the project, Participants will be invited to indicate their state of readiness in the context of the overall schedule. Suggested milestones are as follows:  November 2011, as Factory Test commences;  End February 2012, two months prior to Market Trial; (mid way through SIT);  Mid-April 2012 (2 weeks prior to the beginning of Market Trial);  Beginning of June 2012 (mid-way through Market Trial); and  Beginning of July (towards the end of Market Trial).  These indicators will enable SEMO to effectively manage any potential risk to the overall programme and put in place:  any necessary measures to mitigate any associated risk and/or  put in place appropriate contingency measures if required.

Basis for Information 37  Current position taken from ….  High-level Intra-Day Design  Intra-Day Workgroups to date  Drafts of Code Modifications to date  SEMO Business Process Design to date  SEMO view of what Participants do – you know your own business best!  Final Code and Agreed Procedures not until December 2011

A Day in the Life (of Pricing) 38 CD - 1Calendar Day WD1  COD, FD CD-1 11:30 CD 08:00 CD 09:30 EA1 COD, VTOD, FD CD 11:00 CD-29 09:30 Initial Conditions Gate Window Opening Gate Window Closure Gate Window Opening Gate Window Closure COD, FD EA2 COD, TOD, FD CD 11:30 CD 13:00 EP2 EP1 CD 14:00  CD = Calendar Day  COD = Commercial Offer Data  FD = Forecast Data  VTOD = Validation Technical Offer Data (submit new set, choose set)  TOD = Technical Offer Data (choose set)  TW = Trading Window  WD1 = Within-Day  EA1 = Ex-Ante 1  EA2 = Ex-Ante 2  EP1 = Ex-Post Indicative  EP2 = Ex-Post Initial Gate Window Opening Gate Window Closure Publishing

Key Changes for Participants 39 Pricing and Scheduling (Major Change) Five Pricing Runs per Day Submission of bids for up to three runs per day (EA1, EA2 and WD1) −Use latest accepted and utilised bid data, or default data if no bids −Submission of TOD allowed dependent on run −Different gate opening and closing times for each run (EA1, EA2, WD1) Output from five pricing runs per day Cancellation of pricing runs under certain circumstances Consideration of changes to communication and system failures processes Interconnector Trading Separate bid submission for same Interconnector User in different EA1, EA2, WD1 pricing runs (3 interconnector units, but only one relevant per gate window) Limited time to adjust position between EA1 output and EA2 gate window closure Participants to consider Available Credit Cover before submit Interconnector Bids Market systems to exclude bids for Interconnectors where insufficient Available Credit Cover

Key Changes for Participants 40 Credit Cover (Some Change) Published Information Credit Report extra information −‘Traded Exposure’ for Interconnector Units −No Undefined Exposure for Interconnector Units −More calculation parameters included in report (Estimated Prices, Exposure Periods etc) Use of email instead of fax for communication of CCIN New SRA Cancellation Report from credit cover reporting Timelines Required Credit Cover Reports daily @ 14:30 hours instead of 17:00 hours Credit Cover Increase Notices still by 17:00 hours but via email not fax Interconnectors Available Credit Cover Report after each Pricing Run Interconnector Users need to better manage credit cover −Otherwise more CCINs −Exclusion of bids where insufficient Available Credit Cover

Key Changes for Participants 41 Formal Queries (Minor Change) Two new formal query options Credit Cover Reports (Daily) Excluded Bids and Available Credit Cover Reports (for Interconnector Users) Settlement (No Change) No changes to process or timelines Three units per Interconnector User per Interconnector (covering EA1, EA2, WD1) will be shown on statements/reports and invoices Funds Transfer (No Change) No changes to process, timelines or volume of invoices

Need More Information? 42 SEMO website Intra-Day High-level Design Intra-Day Design Working Groups Presentations Minutes of meetings http://www.sem-o.com/MarketDevelopment/Pages/Modifications%20Projects.aspx?Stage=Active Intra-Day Communications Monthly updates at MOUG meetings; and Technical/Operational PMFs for IT and Business Readiness. Participant Training April 2012 After modifications approved After SEMO business processes finalised Before Market Trial

Intra-Day Trading Project Market Participant Technical Overview 3 rd August 2011, 10.30 am – 13:00 pm Conference call number: 00353 1 6647777, pin: 79592.

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Intra-Day Trading Project Market Participant Technical Overview 3 rd August 2011, 10.30 am – 13:00 pm Conference call number: 00353 1 6647777, pin: 79592.

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Presentation on theme: "Intra-Day Trading Project Market Participant Technical Overview 3 rd August 2011, 10.30 am – 13:00 pm Conference call number: 00353 1 6647777, pin: 79592."— Presentation transcript:

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