Energy Market Partners’ Post

Name: Energy Market Partners on LinkedIn: #podcast #ustrade #powertrading #tradinginsights #energymarketpartners
Uploaded: 2024-11-11T09:03:33.052Z
Duration: 5 min 30 s
Channel: Energy Market Partners

Energy Market Partners

1,983 followers

1mo Edited

A few weeks ago, our CEO Casper Theilgaard Skov had the privilege of being invited by PowerBot to discuss the structure and opportunities within the U.S. power market. With extensive experience in short-term power trading and supporting trading companies entering the U.S. market, Casper provided valuable insights into the unique characteristics of the U.S. power market. What makes the US market so interesting for European trading companies is the distinctly differences from the European market, presenting new opportunities but it also adds complexities. If your trading company is looking to diversify and grow in new markets, we offers comprehensive support throughout the entire market entry process. From detailed market analysis to seamless entry and operational continuity, we’re here to help make your expansion a success. This is just a short video of the podcast. You can find the a full version on Spotify: https://lnkd.in/dhpRpmsM Energy Market Partners - Your Partner in Global Energy #Podcast #USTrade #PowerTrading #TradingInsights #EnergyMarketPartners

Transcript

First informers aussieht that the biggest difference is haut. The pricing structure works in the US compared to to Europe. And so as you know, in Europe, we have solar pricing. So in many of the countries, we may have one price per country. So there could be France, for example or or the UK. While in Norway, I think that's the biggest sonal price country we have where we have 5 individual prices. Then going over to to us, they look not on a solid price, but on a node. Pricing point, so all the way down to a generating wind turbine, which means that you have a huge amount of tradable notes. So some of the Isos contains more than 10, 000 individual prices and then what is the definition of a note here? The definition of a node is more specifically it could be a generating unit. So if you set up a wind turbine of within installed capacity of 10 MW, that would then get a specific price for that specific point. And that is then you say if you look at it more broadly, the US prices, they're called location marginal prices that consists of three elements. First of all, the system price, which is the price without any congestion. In the market, so basically what we know from Euphemia, you have a price. If there were no congestion, Sunday cable. And then the the next step of the price is the congestion element. So how much does it actually cost to move the power from that specific wind turbine onto the next point, which could also be? A substation you can call it. And then the last part is the marginal loss. So you know in in Europe we used to have fiscal loss when we for example, flow power from the UK to. France in the US, that is not the fiscal loss. When you're trading at least short-term virtuals, that is a priced in cost in the price. But when you're saying system price, so this system prices then on the sonar level. So you have sons defined where you have a system price. Well, it's actually a ISO, a wide price and ISO is comparable to a TSO, Yeah. So it's not, it's aggregated on a total level you could say. How is this calculated? It is calculated by will. The system price is just calculated you could say, without having any congestions to consider. So bulking everything, production and and consumption together to find, you know, the match between demand and offers. We're talking about an auction system here I suppose. Yes, etc. So like like our they had auction. Yeah, uh, but, but here of course also the, the system price is, is a part of the price, but the auction itself is on the location marginal price point. So integrating system price with congestion with the marginal loss as well. Hmm. So basically the auction is a representation of all the congestions and then like. Calculating a price for every single unit Yeah, exactly. And that's I would say also talking maybe a bit into what you do Helmut at Powerbot. It's almost impossible to comprehend with at least with my brain to, you know, with all the different data points just to trade based on maybe experience, you could say you need a quite big data set to be able to build models and another very. Different thing about the US market compared to the European market is that in the US market there is no continuous Intrade market, there is 2. There are two points that they had priced and the real surprise and the real surprise is almost equivalent of what we know as the imbalance price in Europe. So you take the continuous trading completely out of that spectrum you. I mean, you, you have nobody to trade, right? Yeah. I mean, it's just one note. Yeah, exactly. And of course, there's a risk there because you're kind of stuck with the position you have. So you could say if you are guessing randomly, you just need to pray and then hope it's going your way. But of course, nobody insists a market without having a clear idea of how they wanna trade there. Umm. But this basically implies that you need a fundamental model to trade the US power markets. Is this correct? Yeah. We see a lot of companies entering using you know machine learning models or whatever we should call it to model the market. Some don't model the market as a whole. They probably take maybe between 5:00 to 10:00 parameters in and then trade based on them. So trying to learn the models how to hit the what the real time price is actually going to be and based on that they are submitting. It's an office, so you don't need to go with an extremely deep model developing for one or two years before you can go live. But of course as you get experience, you explained the range of data you include. Hmm.

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