On
September 11, 2012, the organizers of short-term market in three countries –
Slovakia, Czech Republic and Hungary – have officially launched common day-ahead
electricity market coupling on the principle of implicit capacity allocation.
Hungary has joined Slovakia and Czech Republic which formed market coupling on
September 1, 2009.
As of
today, day-ahead bids (for purchase and demand) of registered traders of the
three countries could be traded together up to available cross-border capacity.
Neither the obligatory reservation of cross-border capacity by the means of
daily explicit capacity auction nor new registration at system is needed. Slovak
operator OKTE also warned that for market coupling CZ-SK-HU there will be change
of Gate Closure Time - newly at 11:00 am. Publication of results is expected at
11:40 am.
Previously
there was a two-steps process on the Slovak-Hungarian border – daily explicit
cross-border capacity auctions followed by the power trading on local exchanges.
With market coupling it was replaced by simpler and more efficient process.
Better
utilization of cross-border capacities and the ease of daily export-import
possibilities will ensure better opportunities for portfolio optimization. The
three coupled markets together represent a scale of volume that altogether
creates higher security of supply, higher liquidity and thus less price
volatility on the coupled organized markets.
The three
national power exchanges – OKTE, OTE and HUPX – consider it an important step to
the creation of the European Internal Electricity Market.
In December
last year also Romanian and Polish parties expressed their willingness to join
the initiative.
The
introduced implicit allocation uses the price coupling mechanism compatible
with the algorithm used in the Central Western European region. The parties involved are ready to follow their
cooperation on implementation of implicit flow-based allocation of the Central
Eastern Europe region) and the North West Europe region as next steps to create
single European electricity market.
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