Day-ahead electricity market
European Union Electricity Market Glossary

  

 

info     

Day ahead markets winter energy package 

 

 

 

 

numbering blue   organised by transmission system operators and nominated electricity market operators

what is market coupling 

 

numbering blue   based on market coupling

 

 

numbering blue   non-discriminatory

 

 

numbering blue   maximise the ability of market participants to contribute to avoid system imbalances

 

 

numbering blue   maximise the opportunities for market participants to participate in cross-border trade across all bidding zones

 

 

numbering blue   provide prices that reflect market fundamentals

 

What is bidding zone

 

numbering blue   provide reference prices longer-term hedging products

 

 

numbering blue   ensure operational security

 

 

numbering blue   allow for maximum use of transmission capacity

 

 

numbering blue   transparent

 

 

numbering blue   respect confidentiality

 

 

numbering blue   trades are anonymous

 

 

numbering blue   make no distinction between trades made within a bidding zone and across bidding zones

 

 

 

 

 

 

trade on day ahead markets

 

 

 

numbering blue   considered the most developed cross-border electricity trading timeframe

 

 

numbering blue   provides market participants with the opportunity to trade in energy in time intervals at least as short as the imbalance settlement period

 

 

numbering blue   minimum bid sizes of 1 Megawatt or less

 

 

numbering blue   by 1 January 2025, the imbalance settlement period must be 15 minutes in all control areas

 

numbering blue  According to the Annual Report of the ACER and CEER on the Results of Monitoring the Internal Electricity and Gas Markets in 2016 (Electricity Wholesale Markets Volume) published in October 2017, the EU Member States borders with the highest average day-ahead price differentials (euros/MWh) were as follows (2016 price differentials): NL->GB 16.9, AT->IT 13.7, FR->GB 12.4, DE->CH 8.9, AT->CH 8.9, DE->FR 7.8, DE->PL 7.5, NO-4->FI 7.4, NO-2->NL 7.1, SI->IT 7.0.

 

 

 

 

 

 

 

 

Imbalance settlement period

 

 

 

 

 

 

 

 

 

 

 

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Proposal for a Regulation of the European Parliament and of the Council on the internal market for electricity (recast),

30.11.2016, COM(2016) 861 final 2016/0379 (COD)

 

Article 6

 

 

 

 

 

 

Day-ahead and intraday markets

 

1. Transmission system operators and nominated electricity market operators shall jointly organise the management of the integrated day-ahead and intraday markets based on market coupling as set out in Regulation (EU) 2015/1222. Transmission system operators and nominated electricity market operators shall cooperate at Union level or, where more appropriate, on a regional basis in order to maximise the efficiency and effectiveness of Union electricity day-ahead and intraday trading. The obligation to cooperate shall be without prejudice to the application of the provisions of Union competition law. In their functions relating to electricity trading, Transmission system operators and nominated market operators shall be subject to regulatory oversight by regulators and the Agency pursuant to Article 59 of [recast of Directive 2009/72/EC as proposed by COM(2016) 864/2] and Articles 3 to 16 of [recast of Regulation (EC) No 713/2009 as proposed by COM(2016) 863/2].

 

2. Day-ahead and intraday markets shall

(a) be organised in such a way as to be non-discriminatory;

(b) maximise the ability of market participants to contribute to avoid system imbalances;

(c) maximise the opportunities for market participants to participate in cross-border trade as close as possible to real time across all bidding zones;

(d) provide prices that reflect market fundamentals and that market participants can rely on when agreeing on longer-term hedging products;

(e) ensure operational security whilst allowing for maximum use of transmission capacity;

(f) be transparent while at the same time respecting confidentiality;

(g) ensure trades are anonymous; and

(h) make no distinction between trades made within a bidding zone and across bidding zones.

 

3. Market operators shall be free to develop products and trading opportunities that suit market participants' demand and needs and ensure that all market participants are able to access the market individually or through aggregation. They shall respect the need to accommodate increasing shares of variable generation as well as increased demand responsiveness and the advent of new technologies.

 

 

 

 

 

 

 

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Proposal for a Regulation of the European Parliament and of the Council on the internal market for electricity (recast), 30.11.2016, COM(2016) 861 final 2016/0379 (COD)

 

 

Article 7

Trade on day-ahead and intraday markets

 

1. Market operators shall allow market participants to trade energy as close to real time as possible and at least to the intraday cross-zonal gate closure time determined in accordance with Article 59 of Regulation (EU) 2015/1222.

 

2. Market operators shall provide market participants with the opportunity to trade in energy in time intervals at least as short as the imbalance settlement period in both day-ahead and intraday markets.

 

3. Market operators shall provide products for trading in day-ahead and intraday markets which are sufficiently small in size, with minimum bid sizes of 1 Megawatt or less, to allow for the effective participation of demand-side response, energy storage and small-scale renewables.

 

4. By 1 January 2025, the imbalance settlement period shall be 15 minutes in all control areas.

 

 

 

 

 

 

 

IMG 0744

    Documentation    

 

 

 

 

 

Regulation establishing a Guideline on Capacity Allocation and Congestion Management - CACM (Regulation on market coupling)

 

ACER/CEER, Annual Report on the Results of Monitoring the Internal Electricity and Gas Markets in 2016, Electricity Wholesale Markets Volume, October 2017

 

ACER/CEER Annual Report on the Results of Monitoring the Internal Electricity Market in 2015, September 2016, p. 41 et seq.

 

Proposal for a Regulation of the European Parliament and of the Council on the internal market for electricity (recast), 30.11.2016, COM(2016) 861 final 2016/0379 (COD), Article 6, Article 7

 

 

 

 

 

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    Links    

 

 

 

 

 

Single day-ahead coupling (SDAC)

 

Balancing market

 

Intraday electricity market

 

Forward electricity market

 

 

 

 

 

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Last Updated on Saturday, 09 December 2017 11:37
 

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