Operators eye March 2025 for 15-minute EU day-ahead coupling
Date: June 28th 2024
Author: Siobhan Hall, Montel
Category: En.vision
Topic:
Electricity
, Energy policy
, En.vision
Power market and grid operators have suggested 18 March 2025 for a 15-minute market time unit (MTU) product to be available on all borders in Europe’s single day-ahead market coupling (SDAC), they said on Thursday.
Nearly all the Nominated Electricity Market Operators (Nemos) who run the SDAC with grid operators would still offer an hourly trading product after that, and some, including Epex Spot and Nord Pool, would also offer a 30-minute trading product, according to their presentation during a market coupling webinar.Before the March “big bang” go-live could happen, however, the relevant balancing and intraday markets had to be adapted, they told the webinar.
That meant ensuring the imbalance settlement period (ISP) in all affected bidding zones was 15 minutes, and that intraday auctions and continuous trading in Europe’s single intraday coupling (SIDC) process included 15-minute products for all borders.
The only exception was the Irish single electricity market, which would use a 30-minute product for both intraday and day-ahead market coupling. It also had a derogation from applying a 15-minute ISP.
So far bidding zones in 12 European countries already have a 15-minute ISP and 15-minute intraday trading products available.
They are Austria, Belgium, Bulgaria, Croatia, Finland, Germany, Hungary, the Netherlands, Poland, Romania, Slovakia and Slovenia.
The Czech Republic plans to have both from 1 July, and Estonia and Latvia both from 6 November.
Lithuania plans to have a 15-minute ISP from 1 October, Portugal and Spain from 30 November, Denmark from 1 December, France and Italy from 1 January, and Norway and Sweden from 7 January.
France and Italy plan to enable 15-minute intraday trading in January, with the precise date not set yet.
Greece already has a 15-minute ISP. It, Portugal and Spain plan to enable 15-minute intraday and day-ahead trading at the same time on the proposed go-live date of 18 March next year, said the operators.
Call for 1 April start
Market participants at the webinar called for the day-ahead “big bang” go-live date to be 1 April rather than 18 March, to avoid traders having to deal with a month and quarter with different product MTUs in them.The operators asked for detailed reasoning for this, and warned there may be technical constraints on their side that affected the go-live date.
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