How to Use Piclo Exchange
Piclo Exchange enables flex providers (FPs) to trade their contracted flexibility obligations to other qualified FPs. The following steps take you through the process of getting started, how to list a contract to trade, and how to bid into listed contracts.
In this article
Getting Started with Piclo Exchange
Piclo Exchange is separated into individual markets. To register interest in Piclo Exchange, contact us at email@example.com. Once access has been granted, go to Manage > Market Access.
Within the ‘market access’ tab there will be the option to register for available markets. Once we have received your registration and verified eligibility to participate in the market, you will be able to start trading on Piclo Exchange.
Using Piclo Exchange
On the primary navigation you will see the Exchange button. Once you have gained access to a new market you will be able to browse through current listings, create a new listing, and bid into existing listings within this section.
Go to Exchange > Browse, here you can find a list of any current listings. To view more details of a certain listing, click ‘view’.
The values listed for guide price and proposed bid value are the net amount a transferee will receive. For example, if the clear price for a contract was £10.00/kw/yr and the guide price/proposed bid price is £8.00/kw/yr, the transferor will invoice the transferee for the £2.00/kw/yr difference and transferee will receive the £10.00/kw/yr from National Grid once the contract is transferred.
List and Manage an Agreement
The following steps will take you through the process of listing an agreement:
- Navigate to Exchange > Create Listing to create your own listing for an agreement you want to trade.
- Complete all relevant fields, agree to the Exchange capacity market rules, and submit to market once complete.
- The listing will then appear in the browse tab to the rest of the market.
- To edit the listing, please contact us at firstname.lastname@example.org.
- If you click “view” on your listing once it has closed, you will be able to see actions against your listing, for example the number of bids received.
- Please note, the actual bids will not be visible until bidding has closed.
Once bidding has closed, go to Exchange > Select View the Listing > Decision Bids to see bids you have received.
Here you will be able to view all the bids that have been received, however they will remain anonymous until a decision is made. At this time, bids can be accepted or rejected and if you wish to negotiate on a particular bid please contact us at email@example.com. You may accept as many bids as possible (up to the capacity listed on the trade) or none at all. After the bid decisions have been submitted you will be able to view the company who submitted the bid and they will be notified by Piclo of the bid outcome.
How to Bid Into Listed Contracts
The below steps will take you through the process of bidding into a listed contract:
- Go to Exchange > Browse, here you will find a list of any current listings.
- To view more details of a certain listing, click ‘view’.
- To submit a bid for a listing, go to Exchange > Browse > View > Submit a Bid.
- Complete all bid parameter fields and select ‘I agree to the Piclo Flex Exchange 'market rules’.
- Once a bid has been submitted, it can be viewed in ‘manage bid’.
- To edit or delete a bid, please contact us at firstname.lastname@example.org.
View Final Position
Once bids have been decided by the transferor, go to Exchange > View the Listing > View Final Position to view the outcome. If your bid has been accepted, the transfer details will be displayed here and if your bid has been rejected, “No agreement has been reached” will be displayed.
Completing the Trade
Once a bid has been accepted, the transferor must input the trade into the National Grid EMR portal and the transferee must accept within 5 days for the trade to be registered.