XBID
XBID, or Cross-border Intraday Coupling, is the project that was launched in 2012 to create solutions for intraday continuous trading across Europe and to increase overall trading efficiency within a single intraday EU electricity market.
On October 1, 2019, a 2nd wave pre-launch workshop was held. The following presentations include the slides presented during the workshop, Q&A already provided to market participants registered for this event, and updated information package.
What is XBID
This project was created as a joint initiative of several European power exchanges and transmission system operators (TSOs) from 11 European countries and, despite its challenging implementation, is constantly evolving. The countries currently involved or aspiring to participate in the project include Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Greece, Italy, Latvia, Lithuania, Luxembourg, Hungary, Germany, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, and Sweden.
The project responds to the needs of the market by creating a more transparent and efficient continuous business environment that will allow market participants to easily trade their intraday positions across EU markets and without need for an explicit allocation of transmission capacity.
The solution is based on a common central IT system linking orders from local trading systems operated by nominated electricity market operators (NEMOs) as well as available transmission capacities between bidding zones provided by TSOs. Under a central solution, orders placed by market participants in one country may be matched with orders placed by market participants in any other involved country if there is an available cross-border transmission capacity between the concerned zones. The XBID solution supports both implicit and potentially explicit (at the request of national regulatory authorities) continuous trading and is fully in line with the EU target for an integrated intraday electricity market that is set by Commission Regulation 2015/1222 of 24 July 2015 establishing a guideline on capacity allocation and congestion management (the CACM Regulation). A Public Description of Continuous Trading Matching Algorithm is available here:
Currently, the project continues as a single intraday electricity market ('SIDC').
History
In 2017, the technical part of the XBID project was completed. It was followed by preparations of the project launch and the launch of the first wave of so-called Local Implementation Projects (LIPs). On 12th June 2018 first wave of LIPs was successfully launched and the first results were obtained one day later. Success was achieved specifically in the following countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Lithuania, Latvia, Norway, the Netherlands, Portugal, Spain and Sweden. This marks a major milestone in the project and follows several years of complex and intensive development and testing. Additional information can be found in the following press release.
- Press_Release_XBID_Go-Live.pdf (92 KB)
The Single Intraday Coupling (SIDC) parties are pleased to recognise a successful first year of operation with high and growing numbers of trades together with stable and robust system performance. Over 16 million trades have been successfully completed since Go-live in June 2018. Further information can be found in the following press release:
Each LIP consists of one or more borders or interconnectors, one or more TSOs and one or more NEMOs. The main purpose of the LIP is to assign responsibilities to each party, to adapt local mechanisms such as operational procedures, custom systems and contractual framework, and to ensure readiness to participate in XBID testing.
The following figure shows the layout of LIPs as of August 29, 2017.
Picture 1 – Map of local implementation projects
LIP 15
In May 2017, ČEPS, a.s. as the Czech TSO and OTE, a.s. as the Czech NEMO together with similar entities in Austria, Germany, Hungary, Romania and Croatia (namely 50Hertz, APG, EPEX SPOT, EXAA, HUPX, MAVIR, Nord Pool, OPCOM, TenneT and Transelectrica) set up the LIP 15 and on 17 August 2017 signed a Memorandum of Understanding on its establishment. Croatian (HOPS and CROPEX) and Slovenian (ELES and BSP) parties joined the LIP 15 in the following months. All parties to the project expressed their interest in the implementation of continuous cross-border trading and the introduction of implicit allocation of intraday cross-border transmission capacity on the Czech-German, Czech-Austrian, Austro-Hungarian, Hungarian-Romanian, Hungarian- Croatian and Croatian-Slovenian border.
The borders of LIP 15 are shown in the following figure.
Picture 2 - The borders of the LIP 15
All parties are also committed to actively contribute to the achievement of the European internal electricity market in line with Commission Regulation (EU) 2015/1222 of 24 July 2015 establishing a guideline on capacity allocation and congestion management (the CACM Regulation). On 19 and 20 November 2019, LIP 15 joined SIDC as part of the second go-live wave.
LIP 15
The Nominated Electricity Market Operators and Transmission System Operators from Slovakia, Czech Republic, Poland and Hungary established a new Local Implementation Project (LIP 17) to couple intraday electricity markets under Single Intraday Coupling (SIDC, formerly known as XBID project) covering borders between Slovakia – Czech Republic, Slovakia – Hungary and Slovakia – Poland.
