Skip Navigation Links
Skip navigation links
Market
Daily and Intraday - Prices
Daily and Intraday - Energy
Continous - Energy
Bids
Technical Constraints
Secondary Reserve
Regulating Reserve
Secondary Reserve
Allocation
Price
Price Adjustment
Schedules
PDBF
PDVP
PHF
PHOF
Reserve Energy
Secondary Reserve
Regulating Reserve
Price
Technical Constraints
Day Ahead - Energy
Day Ahead - Cost
Real Time - Energy
Real Time - Cost
Imbalances
Imbalances per Agent
Imbalances per Unit
Costs
Cross Border Balancing

Secondary Regulation Reserve Price Adjustment - Electricity Generation Costs of a Natural Gas Combined Cycle Plant 

 

ERSE's Directive nº 3/2017 states that the valuations affected by the marginal price of the Secondary Regulation Reserve shall be reviewed quarterly in accordance with the following principles:

  • If the quarterly average of the hourly price of the Secondary Regulation Reserve in the Portuguese area of ​​MIBEL exceeds the quarterly average of the equivalent service price in the Spanish area of ​​MIBEL, the marginal price of the Secondary Regulation Reserve will be revised;
  • In addition, the Spanish hourly price of MIBEL will be limited to 120% of the estimated electricity generation marginal cost of a natural gas combined cycle plant (CCGT), published quarterly by the Global System Manager (GGS).
  • Valuations affected by the marginal price of the Secondary Regulation Reserve shall be reviewed quarterly according to the adjusted price, which results from the application of the adjustment mechanism established in the previous paragraphs.

As GGS, REN is responsible for the calculation and publication of the estimated electricity generation marginal cost of a CCGT plant , according to Procedure nº 25 of the Manual of Procedures of Global System Management (MPGGS).

    Download