Any user of this website expressly agrees to the Conditions of use published in the General Conditions and undertakes to comply with them.

Read More

main navigation

Market Data Transparency Information


Exchange Transparency


One of the key elements of PCR project is the development of a single price coupling algorithm, which will adopt the name EUPHEMIA (acronym of Pan-European Hybrid Electricity Market Integration Algorithm). It will be used to calculate energy allocation and electricity prices across Europe, maximizing the overall welfare and increasing the transparency of the calculation of prices and flows.
In the past, several algorithms were used locally by the involved PXs. All of them (COSMOS – see below, SESAM, SIOM and UPPO) have been focusing on the features of the corresponding PX, but none was able to cover the whole set of requirements. This made the implementation of the new algorithm (EUPHEMIA) necessary, to cover all the requirements at the same time and give solutions within a reasonable time frame.

Description: EUPHEMIA


The following document gives important background information on the COSMOS matching algorithm and describes the conditions which should be respected during the process of calculating the day-ahead market results on the EPEX SPOT markets. This algorithm is not used anymore, as Euphemia replace it February 2014, and the launch of NWE price coupling.
description: COSMOS (version 1.1)



to the top