Portugal
Information based on provisional data from 8 April, 2022
The net annual balance of scheduled energy exchanges in the interconnection with Portugal was once again as an exporter, with a value of 4,548 GWh, compared to 1,455 GWh in 2020. This is the third consecutive year with an export balance, previously not recorded since 2015. Scheduled imports totalled 4,124 GWh, showing a drop of 16.5 % with respect to the previous year, while those for export totalled 8,673 GWh, a value that was 36 % higher than last year.
The net balance of the scheduled exchanges was as an exporter except for the months of February and March. In the year as a whole, 65.1 % of the hours registered an export balance, with August being the month with the highest number of hours (644). February was the month with the highest number of hours with an import balance (582).
The import balances are largely due to high hydroelectric and wind power generation in Portugal. In 2020, the producible hydroelectric power index was 0.93 and the wind power index was 1.01 1. February was the month with the highest import balance, being the month with the highest producible hydroelectric power index and the second highest in the wind power index in the Portuguese system. October, July and December were the months with the fewest hours of congestion (1 hour in October, 4 hours in July and 5 hours in December).
Both hydroelectric and wind power generation significantly influenced the scheduled balances in the interconnection with Portugal. As an example, it can be seen how in a month with high wind and hydroelectric power production in Portugal (such as February), the balance is as an importer, while in months with low production it is as an exporter, or with a low importer balance.
Exchange capacity and net balance of scheduled exchanges in the cross-border connection with Portugal in 2021
GWh
Hourly capacity allocated in explicit long-term capacity auction at the cross-border connection with Portugal (IPE)
Congestion rents reached 4 million euros, with 56.9 % coming from the day-ahead market, 3 % from the intraday market, 1.9 % from Replacement Reserves and 38.2 % from the auctions.
Congestion rents reached 4 million euros, with 56.9 % coming from the day-ahead market, 3 % from the intraday market, 1.9 % from Replacement Reserves and 38.2 % from the auctions (13.6 % in the annual, 7.5 % in the quarterly and 17.1 % in the monthly). 50 % of this amount corresponds to the Spanish electricity system.
A total of 526.5 GWh of imports and 572 GWh of exports were allocated through the European platform for the management of balancing energy from Replacement Reserves.
Congestion rents resulting from the cross-border management mechanisms with Portugal
€ Millions
In the day-ahead horizon, the convergence levels registered in the interconnection with Portugal in 2021 were high, resulting in a percentage of hours with congestion in the day-ahead market of slightly lower than 3 %. Consequently, prices in one system or the other were very similar, with the hourly price differential in absolute terms being 0.20 €/MWh.
Regarding the final daily use of the exchange capacity, in this interconnection there were no days when there was congestion throughout the whole 24-hour period.
Hours with and without congestion in the interconnection with Portugal
The monthly evolution shows that August and October were the months with the highest coupling rate, while January saw the highest percentage of hours with congestion, with almost 8 % of the hours of the month and a price difference of 0.58 €/MWh, which is the highest price difference ever registered. September, with slightly more than 2 % of the hours with congestion, is the month with the second largest price difference (0.42 €/MWh).
Monthly congestion levels and difference in prices in the interconnection with Portugal
In 2021, coordinated countertrading actions were required for a total of 7.3 GWh, lower than the 14.2 GWh programmed in the previous year. In the import direction, 94.7 % were programmed in the import direction and the remaining 5.3 % were in the export direction.
Application of countertrading actions (CTA) at the cross-border connection with Portugal
Cross-border electricity exchanges
France
Cross-border electricity exchanges
Morocco and Andorra