Pursuant to the Act No. 142 Coll. of 3 March 2010 amending the Act No. 656/2004 Coll. on Energy and on the amendments to certain acts as amended, amending the Act No. 276/2001 Coll. on Regulation in Network Industries and on the amendments to certain acts as amended, SEPS, a.s. have established its daughter joint stock company OKTE, a.s. The activities of the newly established company OKTE, a.s. are based on the legislative standards and regulations linked with the entry of the Slovak Republic on the European liberalized market in electricity.
The effective access of all participants on the market based on transparent and non-discriminatory criteria is one of the main objectives pursuant to the Directive of the European Parliament and of the Council 2009/72/EC as the one of documents adopted in the framework of the third liberalization package of measures. Enhanced transparency and more effective development of the market in electricity will be ensured by separation of the respective processes from the Transmission System Operator (SEPS, a. s.).
The organizer of the short-term market in electricity - OKTE a. s., the activities of which will start on 1 January 2011, will organize and evaluate the short-term market in electricity and ensure the deviation clearing on the territory of the Slovak Republic. The extension of its activities in the field of administration and collection of measured data as well as execution of central invoicing of the charges linked with operation of the electricity system is planned in the future. The financial flows and invoicing services will be simplified by such extension.
The General Assembly has elected Mr. Michal Cabala as the Chairman of the OKTE, a.s. Board of Directors in charge of management of the company in the position of its Director General.
Mr. Michal Cabala has been working with SEPS, a.s. since its establishment in 2002 in different positions linked with the strategy and development of the transmission infrastructure. Since 2009 he has been working with the Office for Regulation of Network Industries (ÚRSO) in the position of director of the Electro Energy Regulation Department.
OKTE, a.s. will ensure fluent transition of all contract commitments, rights and duties linked with the deviation clearing and organization of the short-term market in electricity from SEPS, a.s. performing these activities since 31 December 2010.
In the framework of the market in electricity in the Slovak Republic, OKTE, a.s. has been established by law as the new regulated entity subject to ÚRSO regulation.
The Act on Energy – the Act No. 656/2004 Coll. on Energy and on the amendments to certain acts as amended
The Market (in Electricity) Rules – the Regulation of the Government of the Slovak Republic No. 317/2007 Coll. determining the rules for the operation of the market in electricity as amended by the Act No. 309/2009 Coll. amended by the Regulation of the Government of the Slovak Republic No. 211/2010 Coll.
The Electricity Market Participant – the electricity producer, the transmission system operator, the distribution system operator, the electricity supplier, the electricity consumer and the trader in electricity (see the Act on Energy)
The Transmission System Operator – the legal entity authorized to transmit electricity on the defined territory pursuant to the Act on Energy. The SEPS, a.s. acts as the Transmission System Operator in the Slovak Republic
The Electricity Supplier – the physical entity or the legal entity authorized to supply electricity pursuant to the Act on Energy
The Trader in Electricity – the physical person or the legal person purchasing electricity for the purpose of its future sale holding a permit to supply electricity (see the Act on Energy)
The Electricity Consumer – the trader in electricity and the end consumer of electricity (see the Act on Energy)
The Deviation Biller – the legal person ensuring the settlement of differences between the contracted amounts of electricity and effectively supplied amounts in the specified time (see the Act on Energy)
The Entity Subject to Clearing – the electricity market participant that has chosen the regime of its own responsibility for deviation and has entered into the Contract on Deviation Clearing with the Deviation Biller (see the Market Rules)
The Deviation of the Market Participant – the difference between the agreed amount of electricity and effective amount of electricity of its balance group in MWh rounded to three decimal points with consideration of the amount of purchased regulation electricity (see the Market Rules)
The Short-Term Electricity Market Organizer (hereinafter referred to only as the Short-Term Market Organizer) - the legal entity authorized to organize the short-term market in electricity. OKTE, a.s. will act as such entity in the Slovak Republic since 1 January 2011
The Short-Term Electricity Market Participant - the legal person that has entered into the Contract on Access to and on the Settlement of the Organized Short-Term Market in Electricity with the Short-Term Market Organizer (hereinafter referred to only as the “SM Participant”)
The Market Coupling – the method of implicit auction based on the market principles combining the processes of trading in electricity and capacity allocation; transmission capacities are effectively used in their maximum extent as the possibility of non-utilization of the nominated capacity is eliminated
The Trade Area – the territory, in the framework of which the daily market is organized by the Short-Term Market Organizer for the SM Participants