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

 

 

 

 

 

 

 

Imbalance settlement period

 

 

 

 

 

Day-ahead market prices

 

 

The harmonised maximum clearing price limit for single day-ahead coupling is proposed to be set at +3000.00 Euro/MWh, the harmonised minimum clearing price limit for single day-ahead coupling is proposed to be set at -500.00 Euro/MWh (All NEMO’s proposal for harmonised maximum and minimum clearing prices for Single Day Ahead Coupling in accordance with Articles 41(1) of Commission Regulation (EU) 2015/1222 of July 2015 establishing a guideline on capacity allocation and congestion management, 14 February 2017).

 

According to the ACER's Consultation document, of 24 August 2017, Maximum and minimum clearing prices for single day-ahead and intraday coupling (PC_2017_E_02), however, ACER deems it necessary:

 

1) to implement a more dynamic automatic adjustment rule for maximum clearing prices for Single Day Ahead Coupling (PmaxDA), such that it allows for a faster alignment of the PmaxDA towards the Value of Lost Load (VoLL);


2) to introduce an automatic adjustment rule for maximum and minimum clearing prices for Single Intra Day Coupling (PmaxID), such that PmaxID is always equal or higher than PmaxDA.

 

In line with the above insight ACER proposes the new text in point 5.2 of the Harmonised maximum and minimum clearing prices for Single Day Ahead Coupling (SDAC) as follows:

 

"The Harmonised Maximum Clearing Price Limit shall be increased by an increment of 1000 €/MWh in the event the hourly Clearing Price in an individual or multiple Bidding Zones has exceeded a value of 60 percent of the Maximum Clearing Price Limit in at least one market time unit."

 

According to the ACER/CEER, Annual Report 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) are 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.

 

 

 

 



Last Updated on Sunday, 05 November 2017 20:15
 

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