VTC Energy Balance Group, with an hourly capacity of 5.500 MWh provided its stakeholders with an advantage of up to 100%.
VTC Energy Balance Group, with an hourly capacity of 4.500 MWh provided its stakeholders with an advantage of up to 95% in 2021.
Balance Responsible Party
It is an imbalance management group formed by market participants by notifying the market operator (EPİAŞ). It refers to the group in which balance responsibility obligations are assumed on behalf of a market participant within the group.
Thanks to the group responsible for the balance, market participants come together and can take action to reduce the amount of energy imbalance. Thus, imbalance costs can be minimized within the group and group stakeholders can gain maximum advantage.
What is the Importance of the Balance Responsible Party?
Industrial organizations should report the amount of energy they will consume one day later and commit to the purchase through the Day Ahead Market. The amount of electricity consumed may be more or less than anticipated due to various reasons. In this case, it is necessary to make a buying or selling transaction in the Intraday Market.
The same is true for companies producing electricity. The company that will produce electricity notifies the production estimation one day in advance and tries to reach that target. However, there may be deviations in electricity production due to various reasons. In this case, there may be a penalized purchase or sale on the Balancing Power Market in order to eliminate the imbalance.
In short, industry organizations and electricity generation companies that are market participants may have to purchase electricity at a price much higher than the market price or sell electricity much lower than the market price in case of deviations in their ECM or DAM estimates.
The group responsible for the balance ensures that the participants create a portfolio in a way that will reduce the total amount of imbalances. Thus, even in case of any problem, it can be kept at a higher level than profitability.
What are the Advantages of Joining the Balance Responsible Party?
Participation in groups responsible for balance is not mandatory. However, industrial organizations or businesses may have to pay high fees for purchasing electricity or low fees for selling electricity through the Balancing Power Market.
The advantages of the group responsible for balance are listed as follows:
- The imbalance costs caused by the deviation in the energy production or consumption estimates are minimized by the group responsible for the balance.
- The groups responsible for the balance have a special structure that is fed by the synergy of the participants.
- Stakeholders can reduce both their own costs and those of other stakeholders.
- All of the stakeholders can reach a profitable position in the energy markets
VTC Energy Balance Responsible Party
The party responsible for the balance, established by VTC Energy and with a capacity of 5.500 MWh, has a very wide portfolio. Imbalances are kept to a minimum, as it is one of the three largest balance groups in Turkey and many companies are included in the group.
With the VTC Energy Balance Party, stakeholders can gain an annual average advantage of up to 100%. In addition, as the balance group is growing rapidly, stakeholders can further increase their profitability in the coming years.
Who is in the VTC Energy Balance Party?
- Renewable energy producers
- Industrial facilities with high electricity consumption amounts
- Market participants who own a cogeneration plant
- Market participants with biomass power plants
- Market participants with thermal power plants