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Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting PTR is an acronym for Physical Transmission Right. FTR is an acronym for Financial Transmission Right. Also, see the PowerPoint presentation Financial transmission rights – how they work and how to hedge. At www.houmollerconsultinmg.dk , you can download the presentation from the sub-page Facts and findings . This PowerPoint presentation is animated It’s recommended to run the animation when viewing the presentation. On most computers, you can start the animation by pressing F5 . Now the presentation moves one step forward, when you press Page Down . It moves one step backward, when you press Page Up . 1 4 May 2015

Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting ðPTR is an acronym for Physical Transmission Right. FTR

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Copyright Houmoller Consulting © 3 EUR/MW Setting the price of PTR/FTR capacity – 2 MW FTR capacity Sold on auction This is split betw. no. 6 and no. 7 Bid no. 1 Bid no. 2Bid no. 3Bid no. 4Bid no. 5 Bid no. 6Bid no. 7 Capacity Everyone pay this price 4 May 2015

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Page 1: Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting ðPTR is an acronym for Physical Transmission Right. FTR

Copyright Houmoller Consulting ©

IntroductionAnders Plejdrup HoumøllerCEO, Houmoller Consulting

PTR is an acronym for Physical Transmission Right. FTR is an acronym for Financial Transmission Right.

Also, see the PowerPoint presentation Financial transmission rights – how they work and how to hedge. At www.houmollerconsultinmg.dk, you can download the

presentation from the sub-page Facts and findings. This PowerPoint presentation is animated

It’s recommended to run the animation when viewing the presentation.

On most computers, you can start the animation by pressing F5. Now the presentation moves one step forward, when you

press Page Down. It moves one step backward, when you press Page Up.

14 May 2015

Page 2: Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting ðPTR is an acronym for Physical Transmission Right. FTR

Copyright Houmoller Consulting © 2

EUR/MW

Setting the price of PTR/FTR capacity – 1Bi

d no

. 1

Bid

no. 2

Bid

no. 3

Bid

no. 4

Bid

no. 5

Bid

no. 6

Capacity

Everyone paythis price

MWFTR capacitySold on auction Bid 6 only gets this capacity

4 May 2015

Page 3: Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting ðPTR is an acronym for Physical Transmission Right. FTR

Copyright Houmoller Consulting © 3

EUR/MWSetting the price of PTR/FTR capacity – 2

MWFTR capacitySold on auction

This is split betw. no. 6 and no. 7

Bid

no. 1

Bid

no. 2

Bid

no. 3

Bid

no. 4

Bid

no. 5

Bid

no. 6

Bid

no. 7

Capacity

Everyone paythis price

4 May 2015

Page 4: Copyright Houmoller Consulting © Introduction Anders Plejdrup Houmøller CEO, Houmoller Consulting ðPTR is an acronym for Physical Transmission Right. FTR

Copyright Houmoller Consulting ©

Thank you for your attention!

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Anders Plejdrup HoumøllerHoumoller Consulting ApS

Tel. +45 28 11 23 [email protected]@copenhageneconomics.com

Web houmollerconsulting.dk

4 May 2015