Electricity Market Contract Management
Major responsibilities of electricity market contract management are as follows:
- Evaluate players’ compliance and Issuing the market participation licenses
- Preparing the contract terms and proposing them to legislative authorities for
- Sale contracts
- Purchase contracts
- Transmission contracts
- authorizing market players in order to access EMIS
For a power plant who want to take the role of a GENCO in the restructured power system, the first step is to be technically qualified. For the GENCOs this is vital to comply with the connection standards. In other words, they should meet the minimum technical requirements defined by the national grid codes.
The second step for a market participants is to accept the market rules and know market players' rights and duties. For all market players it is necessary to sign a contracts with the IGMC as the market operator. In fact, in addition to the structure of the contracts, most of the contract terms have a predetermined format that were legislated in the regulatory board and they are publically available. The remaining contract terms are negotiated between the IGMC and market players under observation of the regulatory board.
Electricity Market Information System (EMIS) is the Cyber Bridge connecting the market operator to the market players. Huge amount of electricity market data are exchanged via EMIS. The electricity market contraction management has the responsibility to define the accessing limits for different EMIS users according to the legislated laws. For instance a GENCO should have the authority to see the market settlement results for his own power plants and submit the bids for them. On the other hand a GENCO must not have any access to the bidding information of the rivals.