Turkey to launch transparency database for energy markets modelled on US EIA
Turkey is poised to launch an integrated database that would bring transparency in the electricity and natural gas sectors based on the models provided by the Energy Information Administration (EIA), ICIS has learnt.
The database is spearheaded by the Turkish ministry of energy and natural resources. In its first phase, it seeks to collect and analyse relevant information ranging from macroeconomics to the transmission of electricity or real-time generation schedule.
In the second phase, the platform will include data regarding gas flows with an aim to smooth out bottlenecks that may occur in the natural gas system. The development could help improve an existing Electronic Bulletin Board and open up the possibility of trading natural gas on the free market.
Levent Özcan Caner is heading up the project on behalf of the energy ministry, and told ICIS that the initiative is designed to bring transparency to the Turkish energy sector, with all the collected information publicly available on the ministry of energy website.
"We are hoping to publish data in hard copies as part of monthly PDF-type bulletins, hopefully as early as the first quarter of next year," he said.
Database with exchange
The primary data to be published early next year will include macroeconomic information. As the database develops, it will be fleshed out with more concrete information related to renewable generation, real-time generation and transmission and gas-related data that may be fed by the gas pipeline operator BOTAŞ. This type of information may be made available in the second or third quarter of 2013.
Caner added that once Turkey launches EPIAŞ, an exchange that is expected to handle electricity Day-ahead and Intra-day operations, real-time generation data may be shared with the bourse, following the model pursued by similar European outfits (see EDEM 23 January 2012).
Earlier this week, ICIS revealed that Turkey was poised to launch the first tests on its intra-day market at the end of September (see EDEM 28 August 2012).
Caner said the new database would be structured according to the US EIA, which publishes energy statistics and analysis. The department is also well known for its weekly oil and gas reports that publish availability stock data collected on a compulsory basis from all market participants.
The move will bring Turkey into line with EU initiatives such as the Regulation on Energy Market Integrity and Transparency (REMIT), which came into force last year (see EDEM/ESGM 29 November 2011). REMIT's aim is to prevent market manipulation and insider trading, as well as to establish greater transparency in energy markets via increased data and trade reporting. However, European utilities have called for an integrated transparency platform, as they await further guidelines on what must be published to comply with the regulation (see EDEM 17 January 2012 and EDEM/ESGM 2 August 2012). AS
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01 Sep 2014 21:24