The on-going transformation of the EU power industry is leading policymakers to re-evaluate the current design of electricity markets. Electricity generated from renewable sources has become one of the most important sources of electricity, paving the way for a transition towards a low-carbon energy system.
The structure of the electricity market will have to adapt to these changes. This means developing new business models and a new regulatory framework which provides a truly European dimension to security of electricity supply while respecting national specificities.
With the new regulatory design for the EU electricity market taking shape, there are concerns in the sector regarding the new rules under discussion in the on-going “trilogue” talks between EU institutions. In particular, negotiators will have to find a compromise on the tools Member States can use in order to ensure security of supply during this transition, such as capacity mechanisms.
EURACTIV organised this event to discuss capacity markets and their role in securing electricity supply in the EU. Questions included:
- What place for capacity mechanisms in the new market design?
- Why capacity mechanisms? Who do they benefit?
- What is best practice for designing capacity mechanisms?
- Who determines a sufficient level of security of supply and with which tools?
- How should the new electricity market be designed in order to facilitate the energy transition?
Uploading contracts to an online database should not take too long, and with the right solution, there should be a way to quickly drag and drop them into folders. Of course, the contract management team may want to give some thought as to how those folders are categorized. In some industries, it may make sense to classify them by agreement type, whereas in others they may need to be grouped by timeframe or date. It is obviously important to do what makes sense for your company and to ensure everyone understands the classification system that is instituted. With this sort of well-oiled system in place, it is a lot easier to keep a handle on things.
Divide and Conquer.
This is another area that is very industry-dependent, but it is highly unlikely that any company can afford to have an entire contract team devoted to managing one portfolio. More than likely, it is more realistic to divvy up the team and the contracts so that there is a leader for each relevant sphere. The entire team will obviously have to coordinate and communicate, but resources must be allocated in the most efficient manner possible. In turn, this will allow for several individuals to keep an eye on a smaller batch of contracts, thereby facilitating those periodic reviews.
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