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Products Day-Ahead Auction

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Day-ahead auction with delivery on the German/Austrian TSO zones

 

Size

The minimum volume increment is 0.1 MW for individual hours and 0.1 MW for blocks.

Tick

The minimum price increment is EUR 0.1 per MWh.

Underlying

Electricity traded for delivery the following day in 24 hour intervals.

Special case: A full 25 hour Excel template is needed when the clocks are set to winter time. Hour 3 and 3X can contain different values. When the time is switched to summer time the system automatically deletes the exceeding quantities for hour 3 (i.e. 2.00 am to 3.00 am).

Place of Delivery

Deliveries are made within either of the following TSOs zones:

  • Amprion GmbH
  • Tennet TSO GmbH
  • 50Hertz Transmission GmbH
  • TransnetBW GmbH
  • Austrian Power Grid.

All these places of delivery form one market zone.

Auction hours:

The daily auction takes place at 12.00 pm, 7 days a week, year-round, including statutory holidays. 

Type of orders

Individual hours

Orders contain up to 256 price/quantity combinations for each hour of the following day. Prices must be between -500 €/MWh and 3000 €/MWh. The 256 prices are not necessarily the same for each hour. A volume – whether positive, negative or nil – must be entered at the price limits. A price-inelastic order is sent by putting the same quantity at the price limits.

Blocks

Block orders are used to link several hours on an all-or-none basis, which means that either the bid is matched on all of the hours or it is entirely rejected. Block orders have a lower priority compared with single hourly orders. The quantity may be different for every hour of the block. A block order is executed for its full quantity only. A block order is executed or not by comparing its price with the volume-weighted average of the hourly market clearing prices related to the hours contained in the block.

Standard block orders

  • Block Baseload covering hours 1 to 24
  • Block Peakload covering hours 9 to 20
  • Block Night covering hours 1 to 6
  • Block Morning covering hours 7 to 10
  • Block High Noon covering hours 11 to 14
  • Block Afternoon covering hours 15 to 18
  • Block Evening covering hours 19 to 24
  • Block Rush Hour covering hours 17 to 20
  • Block Off-Peak 1 covering hours 1 to 8
  • Block Off-Peak 2 covering hours 21 to 24
  • Block Business covering hours 9 to 16
  • Block Middle-Night covering hours 1 to 4
  • Block Early Morning covering hours 5 to 8
  • Block Late Morning covering hours 9 to 12
  • Block Early Afternoon covering hours 13 to 16
  • Block Off-Peak covering hours 1 to 8 and 21 to 24
  • Block Sun-Peak covering hours 11 to 16

User Defined Blocks

Trading members have also the possibility to submit user-defined blocks linking several hours of their choice.

Particular conditions

The maximum volume for a block bid is 600 MW and a maximum of 100 block bids per trading account can be entered by the participants.

Physical fulfilment EEX Power Derivatives Futures

The Members that are admitted to trade on EEX Power Derivatives and on EPEX SPOT have the possibility to ask for a total or partial physical delivery of their futures position.

To do so, the Members must have requested one or several specific physical fulfillment portfolios. For more information on physical fulfillment, please consult the Download Center (“Trading Documents” section).  

 

SMART BLOCKS

It is also possible to trade smart blocks: smart blocks bids available: linked block orders and exclusive block orders.

Linked block orders:
-   A linked block orders family is a set of block orders which have together a linked execution constraint.
Exclusive block orders:
-    An exclusive group of block orders is a set of block orders within which a maximum of one block order can be executed.
-    An exclusive block order is a block order which is part of an exclusive group. Such a block order has to fulfil the execution constraints of a simple block order.

For more information on the smart blocks, please click here. 

 
 

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