SAPP MARKET MONTHLY
PERFORMANCE REPORT
March 2015
Promoting a Regional Competitive Electricity Market
Monthly Market Performance Highlights .....1
1.1
1.2
1.3
1.4
1.5
Participation Levels .............................. 1
Market Volumes ...................................1
Impact of Transmission Constraints .....2
Market Clearing Prices (MCPs) ...........3
Revenue Performances for Mar. 2015 ..3
MW
CONTENTS
1.
Fig 1.1 Total Buy and Sale Bids Received Daily in
March 2015 (MWh).
900.00
Buy
800.00
Sale
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
31
Day
1. Monthly Market Performance Highlights
1.1 Participation Levels
There were ten (10) active portfolios from nine (9)
members during the month of March 2015, exactly
the same number of portfolio and participants when
compared to February 2015 records.
1.2 Market Volumes
Traded volumes on the competitive market were
lower during the month of March 2015 when
compared to February 2015. With regards to bids
submitted, there were more buy bids than sale offers
received in March 2015 in the day ahead market
trading platform. A total of 45,118 MWh Sale offers
and 257,710 MWh Buy bids were received in March
2015. There was an increase of 4,712 MWh or
11.66% in Sale offers received and another increase
of 5,290 MWh or 2.10% in Buy bids received in
March 2015 when compared to February 2015 figures
of 40,406 MWh Sale offers and 252,400 MWh Buy
bids received. Trade was limited mainly due to less
power that was made available on the market.
Total traded volume on DAM and PDAM was
relatively lower in March 2015 at 30,373.50 MWhr.
There was less matched volume on DAM during the
month of March 2015 with 83.24% of total traded
amount or 25,283.10 MWhr being traded on DAM
while 5,090.40 MWh or 16.76% was traded in
PDAM. PDAM trades increased three times in March
2015 when compared to February 2015 where
1,259.70 MWh was traded in PDAM. On the other
hand DAM traded volume decreased by 5,558.10
MWhr or 18.02% from the 30,841.20 MWhr
recorded in February 2015.
There was matching of bids in DAM for 31 days and
663 hours or 89.11% of the time during the month
of March 2015. However due to transmission
constraints, trading occured for 31 days and 720
hours (including PDAM) or 96.77% of the time. In
comparison, matching occurred for 28 days and 672
hours or 672% with trading occuring for 28 days
and 656 hours or 97.62% of the time during the
month of February 2015.
Below is the trend of daily traded volumes in DAM
and PDAM in March 2015.
Below is a summary of the daily demand and supply
trend on the market during the month.
1
Southern African Power Pool, Market Performance Report for the Month of March 2015
24 Golden Stair Road, P O Box EH52, Emerald Hill Harare, Zimbabwe, Tel: +263-4-335468, 335558, 33517
Fax: +263 4 307023
Email: [email protected]. SAPP Market Website: www.sappmarket.com
1.3 Impact of Transmission Constraints
3,000.00
Post Dam Volumes (MWhr)
2,500.00
DAM Traded Volumes [MWh]
2,000.00
1,500.00
1,000.00
500.00
-
1
3
5
7
9
11 13 15 17 19 21 23 25 27 29
PDAM contributed around 12% of total traded
volumes during the month of March 2015.
On a year on year basis there was significant trading
in financial year 2014/15 when compared to 2013/14.
A total of 508,364 MWh was traded in 2014/15
compared to 84,160 MWh that was traded in
2013/14. Below is month on month comparisons of
traded volumes for the financial years 2013/14 and
2014/15.
Out of a total of 26,335 MWhr (excluding PDAM)
that were matched on the DAM trading plaform,
25,283.10 MWh or 96% was able to be traded
during the month of March 2015. In comparison,
February 2015 had a total of 31,347 MWhr that was
matched on DAM resulting in 30,841.20 MWh being
traded and 505.80 MWh or 1.6% failing to be traded
in DAM due to lack of transmission mainly on the
Insukamini-Phokoje corridor.
Fig 1.3 Impact of Transmission Constraints on DAM
Trading for the month of March 2015.
2,500.00
2,000.00
Daily Traded Volumes[MWh]
Unconstrained Matched Volumes[MWh]
1,500.00
1,000.00
500.00
70000
Traded Volumes (MWh) 2014/15
60000
-
Traded Volumes (MWh) 2013/14
1
50000
40000
3
5
7
9 11 13 15 17 19 21 23 25 27 29 31
From above graph, matched and traded volumes were
close to each other in most instances, a sign that there
were less transmission constraints during the month
of March 2015.
30000
20000
10000
0
April May June July Aug Sep
Oct Nov Dec
Jan
Feb Mar
The competitive market gained significant market
share of the total cross border trades (bilateral and
competitive markets trades) in 2014/15 when
compared to 2013/14. Below graph shows the month
on month comparisons for the years.
10.00%
2014/15 Market Share as a % of Total Trades
9.00%
No congestion income was collected in March 2015
as was the case in February 2015.
There was a significant improvement to access to
transmission capacity for the competitive market in
2014/15 compared to 2013/14. Below is month on
month comparison of monthly matched volumes in
2013/14 and 2014/15 that could no be traded as a
result of lack of transmission access.
2013/14 Market Share as a % of Total Trades
8.00%
7.00%
45000
6.00%
40000
5.00%
35000
4.00%
Energy Matched but not Traded (MWh) 2013/14
Energy Matched but not Traded (MWh) 2014/15
30000
3.00%
25000
2.00%
20000
1.00%
15000
0.00%
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
10000
5000
Note that competitive market share increased from an
average of around 1% in 2013/14 to an averageof
around 6% in 2014/15. Though this is still low, the
increase signifies growth on the market.
0
April May June July Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
2
Southern African Power Pool, Market Performance Report for the Month of March 2015
24 Golden Stair Road, P O Box EH52, Emerald Hill Harare, Zimbabwe, Tel: +263-4-335468, 335558, 33517
Fax: +263 4 307023
Email: [email protected]. SAPP Market Website: www.sappmarket.com
that was experienced on the market during the month
of March 2015.
1.4 Market Clearing Prices (MCPs)
Prices were steady on the market for most of the days
during the month of March 2015. The average
monthly market clearing price (MCP) rose sharply
during the month of March 2015 to 8.746 USc/KWhr
when compared to the 8.187 USc/KWhr recorded in
February 2015. MCP prices have been averaging
around 7.000 USc/KWhr in the previous months.
Below is a summary of the daily average MCPs for
the month of March 2015. The general increase in
sale prices currently prevailing on the market often
resulted in less matching of bids.
A total of USD26,554,025 was exchanged between
buyers and sellers on the market in 2014/15 when
compared to USD4,270,132 in 2013/14.
Fig 1.4.1 Daily Average MCP prices for the Month of
March 2015.
There was a general increase in average monthly
market clearing prices on the market in 2014/15 when
compared to 2013/14. The graphs below give month
on month average market clearing prices in
USc/KWh for the two years.
10
9
2014/15 Average Monthly Market Clearing Price (USc/KWh)
2013/14 Average Monthly Market Clearing Price (USc/KWh)
8
7
6
5
4
3
2
1
0
Apr May Jun
Jul
Aug Sep
Oct Nov Dec
Jan
Feb Mar
1.5 Revenue Performances for Mar. 2015
A total of USD 2,422,295.55 was exchanged on the
DAM and PDAM market during the month of March
2015 when compared to a total of USD 1,989,121.81
exchanged in February 2015. The increase is mainly
attributed to the increase in market clearing prices
3
Southern African Power Pool, Market Performance Report for the Month of March 2015
24 Golden Stair Road, P O Box EH52, Emerald Hill Harare, Zimbabwe, Tel: +263-4-335468, 335558, 33517
Fax: +263 4 307023
Email: [email protected]. SAPP Market Website: www.sappmarket.com