PAYMENT TIMEFRAMES ON THE DAY-AHEAD MARKET (MGP), THE INTRA-DAY MARKET (MI) AND THE OTC REGISTRATION PLATFORM (PCE) AND LISTING OF NEW PRODUCTS ON THE ELECTRICITY MARKET -


With its Consultation Document 04/2014, GME opened a public consultation among market participants inter alia about two proposed transitional solutions, alternative between them, to manage the misalignment of the payment timeframes existing between the Italian market and the one of neighbouring countries. With this Consultation Document, GME is launching a consultation among market participants about a proposed final solution, to be hopefully implemented from 2016 on, with a view to completing the process of integration between the Italian electricity market and the other European energy markets, in lieu of the solution to be adopted in the transitional period.

Under the final solution proposed and described in this Consultation Document, the change of the payment timeframes on the MGP, MI and PCE (from the current M+2 to the proposed D+7) will also be associated with the introduction of a new segment into the Electricity Market, where to trade daily base-load and peak-load products; the payment timeframes for these products would be maintained within M+2, considering that not all market participants might be in the position to manage payments within the D+7 timeframe.

Interested parties are invited to send in their comments about the operational procedures described in this document and, in particular, their answers to questions from S.1 to S.5.

Please send your comments in writing to GME’s Institutional Relations & Communication (“Relazioni Istituzionali e Comunicazione”) by 10 December at the latest (end date of the consultation) in one of the following ways:

by e-mail to:   info@mercatoelettrico.org
by fax to:   +39 06 8012-4519
by mail to:   Gestore dei mercati energetici S.p.A.
Largo Giuseppe Tartini, 3/4
00198 – Rome (Italy)


If you want us to keep all or part of your comments confidential, please specify which parts of your document are to be kept confidential.

Download Consultation Document 7/2014

Article 3, paragraph 3.5 of the Regulation of OTC registration platform (PCE) provides that  ”GME may propose amendments to these Rules and notify them to interested parties by publishing them on its website or by other suitable means, allowing at least fifteen days for submission of comments, if any. Taking into account the comments received, GME shall then submit the proposed amendments (and the reasons therefor) to AEEG for approval.

With a view to simplify the means of registration and confirmation of transactions within PCE, GME has prepared this consultation document on proposed amendments of the Rules, with a view to gathering comments and food for thought from interested parties.

Interested parties shall send in their comments, in writing, to the Unità Legale e Regolazione (Legal & Regulatory Office) of GME, by  19 April 2013,  at the latest (end date of consultation) choosing one of the following ways:

• By e-mail to: info@mercatoelettrico.org
  
  
• By fax to: 06.8012-4524
  
  
• By mail to: Gestore dei mercati energetici S.p.A.
  

  Largo Giuseppe Tartini, 3/4
  

  00198 – Roma

Those who wish to keep all or part of their  documents confidential or secret, must specify which parts of their documents are to be kept confidential.
 
 
Go to DCO 3/2013

Proposed Amendment of OTC Transactions Platform (PCE) Regulation –Transaction Registration  Request and Validity Control of Transaction Registration Confirmation
 
This document summarizes the main contributions provided to GME following the public consultation that was carried out in connection with DCO 03/2013.
To gather contributions and considerations from the relevant stakeholders, GME published Consultation Document No. 03/2013 on 28 March 2013 concerning Proposed Amendment of the OTC Transactions Platform (PCE) Regulation – Transaction Registration; the said amendment was aimed at simplifying the mechanisms for registering transactions on the aforementioned platform, whereby entering the coupling code in the registration request would be made optional.
By the deadline set for the consultation – 19 April 2013 – replies were received from four Participants and two industry associations; the main considerations are reported below.
In particular:

• Two Participants stated they did not agree with the amendments proposed by GME since entering the coupling code at the time of registration was said to be necessary to ensure accurate as well as unambiguous identification of the parties involved in the bilateral transaction;
• One Participant plus the two industry associations shared the view that the coupling code was unnecessary and suggested accordingly that the said code should be eliminated as a whole rather than proceeding with the simplification proposed by GME – whereby entering the code in question would become optional;
• One Participant did not comment on the proposed amendments whilst highlighting that the coupling code does not impact scheduling activities substantially.
  

 
In the light of the above replies by Participants and given that the consultation respondents do not hold mutually consistent views nor are they in agreement with the proposed amendments, GME signifies hereby that it will not implement the amendments proposed in the aforementioned DCO in an effort  to reconcile the different contributions submitted; accordingly, the provisions currently regulating the OTC Transactions Platform (PCE) will continue to apply for all intents and purposes.