Role of APCS
In the liberalised Austrian energy market, the Federal Ministry of Economic Affairs and Labour awarded APCS Power Clearing and Settlement AG (APCS) a concession effective 1 October 2001 as the clearing agency for the Verbund Austrian Power Grid (APG) balancing area.
As the clearing agency, APCS’s main mandate is to organise a competitive balancing energy market for electricity.
The clearing agency provides the determination, pricing, clearing and settlement of balancing energy (electricity that is used to balance supply and demand in the electric power system). It also verifies whether the balancing group representative (BGR) meets the technical and financial requirements for approval as an independent market participant.
For these services the BGRs are charged a clearing fee.
Role of OeKB
OeKB has been retained by APCS to provide the financial clearing, risk management and market participant credit analysis for the balancing market.