The European Agency for the Cooperation of Energy Regulators (ACER) called, on Friday 2 September, for a revision of the rules on the automatic adjustment mechanism of maximum prices on the ‘day-ahead’ electricity market in case of price peaks.
Under the Harmonised Maximum and Minimum Clearing Price (HMMCP) methodology, if electricity prices in a zone reach 60% of the maximum price, this triggers an increase in the maximum price limit five weeks later.
The price peaks in April in France and more recently in the Baltic region each triggered the need for an automatic increase in the harmonised maximum equilibrium price for the single daily coupling.
Given the expected high prices in the electricity markets, ACER wants to review the HMMCP methodology in order to “limit the frequency of increases of the maximum clearing price in the single day-ahead market allowing consumers and market participants to gradually and better adapt to the scarcity situation in the market.
The Agency therefore invites the Nominated Electricity Market Operators (NEMOs) to propose amendments to the HMMCP methodology for approval by ACER.
In the second half of September, ACER will organise a quick public consultation on these proposals. (Original version in French by Damien Genicot)