DEMONSTRATION OF INTRADAY MARKET COUPLING IMPLICIT AUCTION BETWEEN EU AND NON-EU COUNTRIES

Флексибилност електроенергетског система / Зборник CIGRE (2023).  (стр 1725-1736)

АУТОР(И) / AUTHOR(S): Dejan Stojčevski, Vladimir Stanojevic, Gabriella Juhász, Rita Rahberger-Hódos, Pierre Milon

Е-АДРЕСА / E-MAIL: dejan.stojcevski@seepex-spot.rs

Download Full Pdf  

DOI:  10.46793/CIGRE36.1725S

САЖЕТАК / ABSTRACT:

This paper presents the results of a demonstration of intraday market coupling between different market areas using an auction mechanism. The target model of internal European electricity market for Intraday trading foresees implicit allocations of cross-border capacities, which means that electricity and capacity are traded simultaneously. Intraday auctions (IDAs) will serve as complement to the continuous Single Intra-Day Coupling (SIDC). They will offer added value to existing practice as a new intraday product that fills up periods between day-ahead auctions and beginning of continuous trade, determines the cross-zonal capacity price and enables optimal market participants’ portfolio. The estimated go live of IDA in internal European market is expected during 2024.
In this paper, described are the business process, products, relations between the involved entities, intraday market coupling benefits as well as the results of the experiment. The geographic area of the experiment covered Hungary (HUPX) and Serbia (SEEPEX), with Montenegro (BELEN) which played a role of an import-export zone. Like in Day-Ahead Market (DAM) auctions, the EUPHEMIA algorithm was used to solve the pricing problem as requested by the Regulation (ACER decision on Algorithm methodology). Two products were tested: 15 min MTU covering 12h of the current day, and 60 min MTU covering 24h of the following day. Both un-congested and congested test-cases were performed. The results clearly demonstrate that electricity market coupling between EU and Non-EU countries brings benefits to both sides. The paper also shows that small-size markets with lower intraday liquidity, or the markets that do not find business interest to implement full intraday market coupling using auction mechanism, still can access a liquid market that is coupled to integrated Pan-EU market.

КЉУЧНЕ РЕЧИ / KEYWORDS:

Cross Zonal Capacity, EUPHEMIA algorithm, Implicit Allocation, Import/Export Zone, Intraday Auction, SIDC

ЛИТЕРАТУРА / REFERENCES: