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.
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.
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 party responsible for the balance, established by VTC Energy and with a capacity of 4.500 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 95%. 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?