Introduction to Market4RES Questionnaire
This questionnaire has been drafted in the context of the European Project ‘Market4RES’, which is aimed at providing recommendations on the developments to take place in short and long term electricity markets driving a successful and efficient integration of large amounts of RES generation in the long term.

Within this project, Work Package 3 focuses on the conceptual assessment of design options for the developments to take place in short and long term markets. Options here selected as most promising should be further investigated in WP5 of our project with the help of quantitative models to determine which deserve being proposed for their implementation.
A Workshop on the first findings of the analysis conducted within WP3 of the project took place in Brussels on the 24th of June. There, the project team presented their preliminary conclusions on preferred, or most promising, design options, together with those that should be disqualified as contenders because they had some serious drawbacks. Arguments for the selection of best, and worst, design options were provided.

This questionnaire represents a logical continuation of our Workshop and is aimed at collecting useful feedback from relevant stakeholders like you on a set of issues related to the design of markets that we believe are specially critical and controversial, or disputable. Topics to discuss have been arranged into a reduced number of blocks related to main aspects of the functioning of markets both in the long and the short term.

We count on your participation to provide us with very valuable information to take into account in our final analysis and conclusions. If you feel like answering only a specific part of the questionnaire because this is more the most related to your field expertise, do not hesitate to do so. We also encourage you to disseminate this within your institutions looking for complementary expertise.

Many thanks on behalf of WP3 team within the Market4RES project.

Your name: *
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The second block of questions is related to the overall organization of long term markets, the need for them, and the type and features of products to be traded in these markets. Topics are arranged according to the geographical scope of markets, i.e. whether they relate to national or cross-border markets. is related to the design of a scheme for contracting a sufficient amount of firm capacity in the long term able to guarantee the supply of load. Aspects to discuss include the features of the product to be provided, the procurement mechanism for this product, and the mechanisms for allowing cross-border participation in the scheme implemented.
A) Long-term physical and financial energy markets: national dimension
Q-1.1 (National dimension): How can the inexistence of a well-functioning long-term energy market affect the overall efficiency?
Please, write your answer in the text box below.
Q-2.1 (National dimension): In the EU, in which countries do you think national long-term electricity markets are functioning satisfactorily (with regard to number of products, liquidity, etc.)?
Please, write your answer in the text box below.
Please, briefly justify your choice
Q-3.1 (National dimension): Where do you think they are not working satisfactorily? Please explain why.
Please, write your answer in the text box below.
Please, briefly justify your choice.
B) Long-term physical and financial energy markets: cross-border dimension
Long-term cross-border risk hedging tools are a central feature of the EU Target Model and allow to hedge for price differentials between national spot markets.
Q-4.1 (Cross-border dimension): From your perspective, what type of long-term cross border products are needed in the cross-border interconnections you are more familiar with?
Please, write your answer in the text box below.
Q-5.1 (Cross-border dimension): What are the advantages of issuing physical products instead of financial?
Please, write your answer in the text box below.
Q-6.1 (Cross-border dimension): What should be the firmness of the transmission rights issued by the TSO?
Please, select an answer.
Please briefly justify your choice
Q-6.2 (Cross-border dimension): If 6.1 answered “limited financial firmness” please mention the exceptions under which the TSO would not have to compensate financially.
Please, write your answer.
C) Long-term financial energy markets: national and cross-border dimension
Q-7.1 (National and cross-border dimension): Can all type of resources (conventional, RES-E, demand response, etc.) hedge properly their positions in the market?
Please, select the answer
Q-7.2 (National and cross-border dimension): If 7.1 answered "No", please explain below
Q-8.1 (National and cross-border dimension): What new products may be needed by market parties?
Please, explain below.
Q-8.2 (National and cross-border participation): Who would be the natural counterpart for these new products?
Please, explain below
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