Though any glitches that have emerged during ongoing simulated testing of all energy exchange market systems ahead of a target model launch scheduled for September 17 have been quickly resolved, officials remain concerned about the venture’s level of readiness.
The number of participants for the dry run’s virtual transactions, especially traders, has been insufficient, while participants are submitting unrealistic offers, officials have observed.
This has prompted major fluctuations as well as sizable electricity price discrepancies compared to day-ahead scheduling market levels.
Market systems at the Energy Exchange, to operate the day-ahead, intraday and forward markets, and at the power grid operator IPTO, operating the balancing market, have been undergoing continual testing since August 3.
This week will be crucial as an increase in the number of participants is anticipated, while heightened maturity in bidding methods is also expected, all of which should result in safer conclusions.
For the time being, a deferral of the target model’s September 17 launch date is not being considered. All operators must declare complete readiness to RAE by September 11 if this launch date is to be maintained.
Electricity price levels, once the target model is launched, cannot be forecast at present. This could be possible within the next few days.
Officials at the energy ministry, RAE, the Regulatory Authority for Energy, the energy exchange and IPTO, all monitoring the effort, are scheduled to stage their next weekly meeting tomorrow.