Going, Going, Gone: Selling Solar at Auction #SEUK
Going, Going, Gone: Selling Solar at Auction Stuart Stephens, Commercial Director, e-POWER Renewable
#SEUK 13/10/2015
Large-Scale Solar Feature Area
the best price for your power
Selling Solar at Auction Stuart Stephens, Commercial Director e-POWER
What is e-POWER?
It’s an online auction for selling renewable electricity Securing competitive price for your power It’s easy to get started, and easy to use We’ve been at the forefront of online auctions for over 14 years, auctioning circa £500m a year of renewable electricity and associated renewable benefits • Auctioning export power from FIT and RO sites • 500MW of capacity across 100+ generators • Of which 50MW is PV from 15 sites • • • •
How to get a PPA – what are your options? 1. Do the rounds of the electricity suppliers and compare their offers 2. Contact an agent who will do the leg work for you 3. OR: Use e-POWER, which automates the legwork via its online auction platform
What you need – a checklist 1. A PPA ready in time from the moment you start generating or 2. Existing generators looking for a better deal 3. A good PPA, favourable to you as a generator 4. Prompt payment and good cash flow 5. A PPA at a good price 6. Your billing and settlement needs taken care of
Getting a good contract – with e-POWER • • • • •
e-POWER PPA - tried and tested since 2003 Beneficial to generators because of its legacy Covers all export power and embedded benefits from site A simple fixed single price contract aiding cashflow Bidder takes 100% of offtake and all of the imbalance risk
Getting a good price– with e-POWER
• • • •
Part of Cornwall Energy Green Power Forecast Report 90 to 98% of full market value Post LEC environment, value even more important We help with price forecasting
FiT Solar PV
•
Key assumptions:
– FiT accredited site – Power price at £39/MWh-£45/MWh (Seasonal power prices as of October 2015) – Located in the South West region – embedded benefits of up to £13/MWh if connected at low voltage – 94% value retention against full market value – based on indicative value retention for FiT solar sites in the last two e-POWER auctions
RO Solar PV
•
Key assumptions:
– Ro accredited site – 1.3 Rocs/MWh banding level – Power price at £39/MWh-£45/MWh (Seasonal power prices as of October 2015) – Located in the Eastern DNO region– embedded benefits of up to £10/MWh connected at high voltage – 96% value retention against full market value – based on indicative value retention for RO solar sites in the last two e-POWER auctions
Why e-POWER gets you a good price •
Very competitive – 20 suppliers regularly take part (22 in last auction) – Average over 10 bids/site (13 bids/site in last auction) – ‘Squeezes out’ the best price – Live dynamic process rather than static tender process
•
Supplier friendly too – familiar with auction format and standard e-POWER PPA – Receive a single invoice for entire portfolio of e-POWER sites – An easy way to achieve a wide portfolio of smaller sites (which has better imbalance risk)
Next Steps • Aggregation for smaller geographical clusters of PV plants • Large energy intensive users to bid in auction • Replicate auction into local markets
the best price for your power
www.epowerauctions.co.uk 0191 245 7340 [email protected] @ePOWERrenewable
#SEUK 13/10/2015
Large-Scale Solar Feature Area
the best price for your power
Selling Solar at Auction Stuart Stephens, Commercial Director e-POWER
What is e-POWER?
It’s an online auction for selling renewable electricity Securing competitive price for your power It’s easy to get started, and easy to use We’ve been at the forefront of online auctions for over 14 years, auctioning circa £500m a year of renewable electricity and associated renewable benefits • Auctioning export power from FIT and RO sites • 500MW of capacity across 100+ generators • Of which 50MW is PV from 15 sites • • • •
How to get a PPA – what are your options? 1. Do the rounds of the electricity suppliers and compare their offers 2. Contact an agent who will do the leg work for you 3. OR: Use e-POWER, which automates the legwork via its online auction platform
What you need – a checklist 1. A PPA ready in time from the moment you start generating or 2. Existing generators looking for a better deal 3. A good PPA, favourable to you as a generator 4. Prompt payment and good cash flow 5. A PPA at a good price 6. Your billing and settlement needs taken care of
Getting a good contract – with e-POWER • • • • •
e-POWER PPA - tried and tested since 2003 Beneficial to generators because of its legacy Covers all export power and embedded benefits from site A simple fixed single price contract aiding cashflow Bidder takes 100% of offtake and all of the imbalance risk
Getting a good price– with e-POWER
• • • •
Part of Cornwall Energy Green Power Forecast Report 90 to 98% of full market value Post LEC environment, value even more important We help with price forecasting
FiT Solar PV
•
Key assumptions:
– FiT accredited site – Power price at £39/MWh-£45/MWh (Seasonal power prices as of October 2015) – Located in the South West region – embedded benefits of up to £13/MWh if connected at low voltage – 94% value retention against full market value – based on indicative value retention for FiT solar sites in the last two e-POWER auctions
RO Solar PV
•
Key assumptions:
– Ro accredited site – 1.3 Rocs/MWh banding level – Power price at £39/MWh-£45/MWh (Seasonal power prices as of October 2015) – Located in the Eastern DNO region– embedded benefits of up to £10/MWh connected at high voltage – 96% value retention against full market value – based on indicative value retention for RO solar sites in the last two e-POWER auctions
Why e-POWER gets you a good price •
Very competitive – 20 suppliers regularly take part (22 in last auction) – Average over 10 bids/site (13 bids/site in last auction) – ‘Squeezes out’ the best price – Live dynamic process rather than static tender process
•
Supplier friendly too – familiar with auction format and standard e-POWER PPA – Receive a single invoice for entire portfolio of e-POWER sites – An easy way to achieve a wide portfolio of smaller sites (which has better imbalance risk)
Next Steps • Aggregation for smaller geographical clusters of PV plants • Large energy intensive users to bid in auction • Replicate auction into local markets
the best price for your power
www.epowerauctions.co.uk 0191 245 7340 [email protected] @ePOWERrenewable
