mzine

February 2008
Issue: #36
Welcome to the February Issue of MZINE
our free monthly e-newsletter!
 
Greetings!

February courses are being updated and training days are filling up fast so you will need to act if you wish to join us for any of the exciting courses booked for this month. Below you will find a current list with links to our website for more information.
 

Following on from last month's article looking at the Uniform Network Code and the change processes in the UK gas industry, Duncan Jack, lead consultant for MJMENERGY's Electricity Codes Change Service, explores the various Codes associated with UK power.

 
If you don't understand Derek's cartoon this month, then maybe it's time to sign up for the Emissions Trading Course! (See you there!!)

Training Dates:

Wednesday, 13 Feb 2008

UK Gas & Power

Thursday, 14 Feb 2008

Emissions Trading

Thursday, 21 Feb 2008

Gas Storage

Wednesday, 27 Feb 2008

UK Electricity

Thursday, 28 Feb 2008

UK Gas Markets

Friday, 29 Feb 2008

Network Code

UK Power

 

Power is the most volatile traded commodity on the planet. And UK power vies with US power to be the worst of the lot. And what makes the market so volatile, with its half hourly balancing period and one-hour gate closure - no day ahead auctions here, at least not yet - is in large part determined by the trading arrangement design laid out partly in statute and partly in the industry codes and agreements.

The Codes

In contrast to the gas industry, in which the commercial and regulatory framework can largely be referenced back to a single document, the Uniform Network Code , the GB electricity industry is dominated by a complex set of interlocking Codes and Agreements.

 

The documents fall into two broad categories; those that relate to the "big stuff" of the wholesale market and transmission network and those that relate to the "small stuff" of the retail market and distribution networks. "Big" and "small" are, of course, relative terms; in comparison to the 4GW produced by the huge Drax coal-fired power station anything connected to a distribution network must be considered small.

The Grid Code sets out the rules and requirements for operation on the high voltage transmission system and its equivalent on the distribution side is the Distribution Code, usually shortened to D Code.

Read the rest of this article.

Electricity Codes Changes Service

 

Keeping track of changes in the electricity industry can be a challenge for many players, with new proposals out frequently, and time needed to figure out which ones have significant effects on particular business activities. In order to save time and help companies keep track of proposed changes, MJMENERGY can now provide the Electricity Changes Service.

This subscription service keeps customers aware of possible changes to the Balancing & Settlement Code (BSC) and Connection & Use of System Code (CUSC) with a twice-monthly report timed to coincide with the key BSC and CUSC Panel meetings. The report lists the current status of all live modification proposals and amendments and provides a one page analysis for each proposed change, consultation, and recently approved modifications and amendments, including a recommendation for the particular customer. To see a sample BSC report click here and to see a sample CUSC report click here. If you have any queries or would like to receive a free two-month trial please contact nick@mjmenergy.com

 
In This Issue
Training Dates
UK Power
Electricity Codes
Derek's Cartoon
Emissions Trading

Emissions Trading

 

Understanding the New Emissions Trading Markets

Carbon emissions trading is now a global activity, but many companies are still unsure what the impact will be. Understanding this new, complex and rapidly-developing market is essential for anybody whose business is affected by the price of carbon.

Why do we need a carbon market? What is the Kyoto Protocol? How does the EU Emissions Trading Scheme work? What is a CDM CER? What drives the price of carbon? This one-day briefing on the evolving global carbon market introduces you to carbon emissions trading, explaining the "alphabet soup" of abbreviations, rules and regulations that affect energy prices and policy now and in the future. The day includes a carbon emissions trading game to help you understand key influences on the price of carbon.

Programme:

  • Climate change and Kyoto
  • What is emissions trading?
  • The EU Emissions Trading Scheme (EU ETS)
  • Registries
    National Allocation Plans
  • Distribution of allowances
  • Carbon trading and pricing
  • The Emissions Trading Game
  • Questions and answers plenary session

More information or to book your place


 

All of our training courses can earn, participating solicitors, CPD points from the law society. Attendance at any of our events may also contribute to meeting accountancy CPD requirements under the terms of the ICAEW's CPD policy. Please visit www.icaew.co.uk/cpd for the ICAEW's CPD policy details.

 

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Get Energy Event

NEW TO THE UK GAS & POWER INDUSTRY?high 

UK Gas & Power. A one-day seminar will introduce you to the basic principles and key commercial realities of the UK energy markets.
13th February 2008 Lord's Ground, London, NW8 8QN
 
MJMENERGY LTD have provided all the information in this newsletter free of charge to anyone who wishes to read it. We cannot be held responsible for any inaccuracies although all information is believed to be correct at time of publication. Whilst articles published in this newsletter often carry a particular  point of view, publication of them does not imply that we necessarily agree with them. Anyone wishing to contact the editorial team with regards to any of the above articles should email: editor@mjmenergy.com, or phone +44 (0) 1235 553917.
 Copyright © 2008,
MJMENERGY LTD. All rights reserved (but feel free to copy, post, quote, think about or forward on)
 
Paul Cassar
MJMEnergy Ltd
+44 (0) 1235 553917