On January 12th, 2018, the Ministry of Energy (SENER), published in the Mexican Federal Official Gazette the Liquidations Rulebook (the Rulebook), detailing the content of the liquidations, invoices and payments included within Section 17 of the Electricity Market Guidelines. Its purpose is to describe the formulas and calculation procedures to be used when determining payments and fees resulting from Wholesale Electricity Market (MEM) operations either to: (i) Market Participants, (ii) MEM Regulated Services Providers, (iii) Legacy Interconnected Contract Representatives and Interconnected External Power Systems, (iv) the Market's Surveillance Authority, (v) the Universal Power Service Trust Fund and/or (vi) the Labor Capital Fund.
Market Participants are the following:
- Load Center Representatives;
- Qualified Users who directly participate in the MEM, and
- Non-Supplier Marketers
The National Center of Energy Control, will be the agency in charge of performing the following liquidations or settlements:
i. Day-Ahead Market. Liquidating the electricity and related services marketed in the MEM at prices determined by the Day-Ahead Market;
ii. Real-Time Market. At a price of the Real-Time Market, liquidating the differences between production, consumption and energy supply and Related Services that occur in the actual operation with respect to the amounts programmed in the Day-Ahead Market;
iii. Services not Based on the MEM. Refers to the processing of the fees for the services whose prices are regulated by the Energy Regulatory Commission, such as regulated transmission and distribution fees;
iv. Power Balance Market. Payments and fees for the power transactions within the Market for Power Balance;
v. Clean Energy Certificates Market. Liquidates or settles payments and fees for the clean energy certificate transactions within the clean energy certificates market; and
vi. Complementary Concepts. Liquidates payments and fees to be determined for any other costs and revenues that must be distributed among Market Participants.
The Rulebook only includes what is required for the first stage of MEM operations.
Therefore, it may be updated for the purpose of describing the necessary liquidation procedures.