Based on the negotiating position laid out by the EU and UK, post-Brexit trading arrangements for cross-border electricity trading currently exclude Great Britain from the Internal Energy Market (IEM) and European Single Day-Ahead Coupling (SDAC).

Brexit: Future trading arrangements



EPEX SPOT is dedicated to maintaining business continuity in the power market of Great Britain (GB) at the end of the transition period which is the 31 December 2020. Based on the negotiating positions set out, GB’s electricity market is not part of the Internal Energy Market and consequently faces the implementation of interim arrangements ahead of any negotiated trading arrangement.

All EPEX SPOT GB Day-Ahead and Intraday markets continue to run.

However, the GB Day-Ahead 60 min auction is no longer part of the European Single Day-ahead Coupling. Since the end of the transition period, the interconnectors on the borders of GB-FR, GB-BE and GB-NL have been running explicit auctions for their capacity.

At the end of the transition period, the applicable European regulatory framework ceased to apply in the UK. This framework facilitated GB’s power exchanges to compute a single GB Day-Ahead reference price through a joint implicit capacity allocation service. This means that each power exchange now has to run and calculate their own Day-Ahead auction results independently of any cross-border capacity allocation process and of each other.

Market coupling continues to operate on our GB Intraday auctions coupled with Ireland where the cross-border capacity between the Island of Ireland and Great Britain remains implicitly allocated on the GB IDA1 (17:30 GMT) and GB IDA2 (8:00 GMT) auctions.

Market and Technical Readiness: Our commitments

  • We have secured our technical readiness and the robustness of our systems
  • All Day-Ahead and Intraday trading products remain available after the transition period
  • EPEX SPOT membership and client access to the trading system has not changed
  • The current Euphemia algorithm is used to calculate the prices on the Day-Ahead market

We continuously issue specific member communication about regulatory reporting and data protection when details of these arrangements are made available.

Future Arrangements: What we stand for

We support a fast transition towards a new enduring trading arrangement between GB and the EU.  These new trading arrangements should favour an efficient, non-discriminatory implicit allocation of cross-border capacity, supported by a single reference price calculation process by the GB power exchanges.

Interconnectors that wish to use market-coupling to allocate capacity to or from GB should ensure that their capacity benefits all consumers – meaning that auction marketplaces should have equal access to such capacity for their market participants.

GB markets and trading solutions: What we offer

GB Day-Ahead market

  • At EPEX SPOT, we provide the most reliable reference price, as already proven in the past, due to the high number of active members that participate in the auction every day as well as the strong diversity of market interests.
  • The GB Day-Ahead auction 60min at EPEX SPOT is providing the most competitive marketplace based on our large and diverse GB trading community.
  • We see a constant increase of traded volumes on the GB Day-Ahead auction 60min in the past months, ensuring liquidity on the exchange with the auction accounting for the third largest volumes traded at EPEX SPOT.
  • Following the GB Day-Ahead auction 60min, the GB Day-Ahead auction 30 min at 15:30 (GMT) provides members with additional trading opportunities to balance their physical portfolios and to further optimize their generation portfolio.


GB Intraday auction markets

  • Over the past months, we have seen growing member interest and monthly trading records on both GB Intraday auctions (GB IDA1 & IDA2) that will remain coupled with Ireland.
  • These auctions are the perfect tools to optimize with high flexibility your Intraday portfolio while benefitting from arbitrage opportunities as well as a reinforced Intraday robust reference price.


GB Intraday continuous market

  • Further opportunities to rebalance on our GB Intraday market which boasts #1 in liquidity, providing a robust RPD index.
  • Highest performing M7 trading system with up to 2,000,000+ orders submitted daily with over 99.9% availability rates.
  • Our API solutions provide scalability and high resiliency to system load, technical support from our most qualified experts and compatibility with the largest community of certified ISVs.
Brexit liquidity
This content is based on the known information as of its date of issuance. Due to the constantly changing status of the negotiation between the EU and the UK on Brexit, this may evolve and can be subject to change. EPEX SPOT SE will do its best to update its communications and provide the latest status.