All you always wanted to know about risk in operating policy

OPINION

This editorial describes the concepts underlying the SAR and CVaR methodologies, proposed by MME for incorporating risk aversion into the computational model for operating policy calculation, and analyzes the effect of the selected methodology on the various activities of the sector: contracting auctions, planning criteria, free consumers contracts and distribution utilities' tariffs.

REGULATIONS

This section addresses the following topics: (1) after all, 2013 will have an A-3 auction... (2) ...and a second A-5 auction; (3) the 1001 roles of CDE; (4) the TCU and the indemnities for transmission assets; and (5) correction of the past PLD (for the last time ?).

JURIDICAL

This section makes an assessment of the Reserve Energy Auction of 2013, with emphasis on the new regulations regarding access to the transmission network (inadmissibility of new ICGs) and on the change of the projects' technical characteristics.

ENVIRONMENTAL

This month, the Environmental section focuses on Fish Transposition Systems technologies often used to mitigate the impact of hydro plants on icthyofauna.

SUPPLY

In addition to balances of energy (with and without friction factors) and of peak, prepared by PSR, this section presents a retrospective evaluation of the delays in the entry of new generation in 2012.