Parameters of short-term markets
Day-ahead market (DAM) |
Continuous intraday market (IM) |
Intraday auctions (IDA) |
|
|---|---|---|---|
| type of market | auction | continuous matching | auction |
| trading period | 1 hour | 1 hour, 15-min. * | 15-min. ** |
| minimum volume | 0.1 MW | 0.1 MW | 0.1 MW |
| maximum volume | 2,999 MW | 999 MW | 2,999 MW |
| quantity tick | 0.1 MW | 0.1 MW | 0.1 MW |
| trading currency | EUR | EUR | EUR |
| minimum price | -500 EUR/MWh | -9,999 EUR/MWh | -9,999 EUR/MWh |
| maximum price | 4,000 EUR/MWh | 9,999 EUR/MWh | 9,999 EUR/MWh |
| price tick | 0.01 EUR/MWh | 0.01 EUR/MWh | 0.01 EUR/MWh |
| zero price option | YES | YES | YES |
| market opens at | 30 days | 15:00 D-1 | IDA1: 11:00 D-1 IDA2: 16:00 D-1 IDA3: 23:00 D-1 |
| market closes at | 12:00 D-1 | H-5 minutes | IDA1: 15:00 D-1 IDA2: 22:00 D-1 IDA3: 10:00 D |
- D = Delivery Day
- H = Delivery hour
Threshold values of market-clearing prices for the second auction in the CZ market (valid as of 22/06/2023):
- upper threshold value: EUR +1500/MWh
- lower threshold value: EUR -500/MWh"
Types of block orders supported on the Day-ahead market - Profile Block Order, Exclusive Group of Profile Block Orders, Linked Profile Block Orders
Types of block orders supported on Intraday Auctions - Profile Block Order, Exclusive Group of Profile Block Orders, Linked Profile Block Orders
The minimum level of the matched quantity for Profile Block Order can be defined in the range of 10-100%.
The following applies to linked Profile Block Orders:
- The maximum number of linked Profile Block Orders per one Market Participant in one group (i.e. one family of linked Profile Block Orders) is 7
- The maximum number of families of linked Profile Block Orders per one Market Participant is 5
- A single parent Profile Block Order may have an unlimited number of child Profile Block Orders, while adhering to the maximum number of orders in the linked Profile Block Orders family.
- A child Profile Block Order can have only one parent Profile Block Order.
- A single Profile Block Order can be a member of several groups of linked Profile Block Orders.
- The maximum number of link levels is 3 (see Figure 1 below)
Figure 1: Example of 3 link levels of linked Profile Block Order (LPBO)
The following applies to Exclusive Group of Profile Block Orders:
- The maximum number of Profile Block Orders within one Exclusive Group of Profile Block Orders per Market Participant is 8
- The maximum number of Exclusive Groups of Profile Block Orders per one Market Participant is 10
Electricity markets(in PDF format)
* From July 1, 2024 (delivery day), a 15-min. trading period for the Continuous Intraday Market has been added to the 60-minute trading period (i.e. it is possible to trade both 15-min. and 60-min. products on Continuous Intraday Market)
** From July 1, 2024 (delivery day), the trading period of Intraday Auctions has switched from 60-min. to a 15-min. trading period (i.e. only 15-min. products are allowed to be traded at Intraday Auctions)
