ACER said on Thursday 30 November that it had received a proposal from the Nominated Electricity Market Operators (NEMOs) suggesting amendments to the methodology governing the algorithms for price coupling and matching of continuous trades on the European day-ahead and intraday electricity markets.
The European day-ahead electricity market is based on implicit auctions, while the intraday market is currently based solely on continuous trading. However, intraday auctions should be introduced in 2024.
The current methodology, in place since January 2020, will be adjusted, in particular the day-ahead coupling algorithm. The aim is to improve the co-optimised allocation of cross-zonal capacity for balancing capacity trading and reserve sharing, by promoting more efficient use of this capacity.
In addition, NEMOs have proposed changes to the monitoring of scalable complex orders (a specific type of order from market participants) and to the timing and delivery of intraday auction results.
ACER is planning a public consultation and workshop, with a decision on the modified methodology expected by 24 May 2024.
To see the ACER publication: https://aeur.eu/f/9wa (Original version in French by Pauline Denys)