This method for purchasing electricity offers all of the benefits of purchasing in the organised market, where energy resellers make their purchases to supply their clients, and it’s the cheapest long-term option since no risk premiums are charged.
Now that renewable energies have entered the generation mix in Spain, recent years have seen very competitive prices at certain times of the year, which many clients are already taking advantage of.
OMIE, the wholesale electricity market operator on the Iberian Peninsula, is where producers and resellers negotiate hourly electricity prices using a marginalist system of supply and demand. Nexus Pool is therefore a product indexed to OMIE, with prices settled each day 24 hours ahead of time, which allows for some consumption planning.
We at Nexus Energía support transparency and competitiveness, which is why we offer a perfectly explained formula that details all of the charges we have to pass on to the end consumer by way of electrical system costs.
This method specifies a management cost for representing clients before the market operator (OMIE) and the system operator (REE).
We also offer three variants of the Nexus Pool product, depending on how deviations in consumption forecasts are handled. Currently, electricity can’t be stored in large amounts, which is why supply and demand have to be constantly balanced. For this to be possible, the consumption forecast has to be estimated, and REE penalises agents who erroneously estimate these forecasts. In light of this situation, Nexus Energía offers the following solutions:
- Screen Pool: Nexus Energía handles the forecasts and the associated penalties in exchange for a hedging or shielding cost. Thanks to having such a large portfolio, Nexus Energía can offer this service at a very competitive price that frees clients from having to provide hourly consumption forecasts.
- Beta Pool: Nexus Energía offers a combined system for companies that have a very predictable consumption curve but that nevertheless don’t want to bear full responsibility for any deviations. With this system, Nexus Energía pays the penalties for deviations below 50%.
- Total Pool: With this method, Nexus Energía directly conveys operating requirements to REE, as per the applicable law. This means that the client manages its own deviations, which will entail making hourly consumption forecasts one day before and paying for any deviations incurred.
In both the Beta Pool and Total Pool, the client must provide a consumption forecast beforehand.
The purpose of offering these options reflects our desire to be transparent and to adapt to the needs of every client.