Marking an important step towards creating a single integrated European Intraday market, the target go-live with the 10 Local Implementation Projects will deliver continuous trading of electricity across the following countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Norway, The Netherlands, Portugal, Spain and Sweden. Most other European countries are due to take part in a second ‘wave’ go-live with XBID in Spring/early Summer 2019.
The XBID solution is based on a common IT system with one Shared Order Book (SOB), a Capacity Management Module (CMM) and a Shipping Module (SM). It allows for orders entered by market participants for continuous matching in one bidding zone to be matched by orders similarly submitted by market participants in any other bidding zone within the project’s reach as long as transmission capacity is available. The intraday solution supports both explicit allocation (where requested by NRAs) and implicit continuous trading and is in line with the EU Target model for an integrated intraday market.
European-wide intraday coupling is a key component for completing the European Internal Energy Market. With the rising share of intermittent generation in the European generation mix, connecting intraday markets through cross-border trading is an increasingly important tool for market parties to keep positions balanced. The purpose of the XBID initiative is to increase the overall efficiency of intraday trading.
The June 2018 go-live date is still subject to completion of System and Local Implementation Projects’ Testing, Market Parties Testing and clarifications needed from the National Regulatory Authorities (NRAs) for the Intraday Operational Agreement. The two Market Trial periods are scheduled for 26th February to 2nd March inclusive and 14th to 18th May inclusive.
1 The European NEMOs involved in the project are: EPEX SPOT, GME, Nord Pool and OMIE
2 The Transmission System Operators involved in the project are: 50Hertz (Germany), Amprion (Germany), AST (Latvia), Austrian Power Grid (Austria), BritNed (United Kingdom), Creos (Luxembourg), Elering (Estonia), Elia (Belgium), Energinet (Denmark), Fingrid (Finland), Litgrid (Lithuania), National Grid Interconnectors (United Kingdom), REE (Spain), REN (Portugal), RTE (France), Statnett (Norway), Svenska kraftnät (Sweden), TenneT TSO B.V. (Netherlands), TenneT TSO GmbH (Germany) and TransnetBW (Germany)