15-minute contracts on Austrian Intraday market launched with success
108.75 MWh of power traded on first day
Paris / Vienna, 2 October 2015. Trading of 15-minute contracts on the continuous Intraday power market in Austria has successfully started on 1 October 2015. 108.75 MWh were traded on the first day, including 42.4 MWh across borders, taking advantage of the existing liquidity on the German and Swiss 15-minute continuous trading.
The Austrian transmission system operator (TSO) APG, its German counterparts Amprion, Tennet and TransnetBW, the European Power Exchange EPEX SPOT and its clearing house European Commodity Clearing (ECC) have closely cooperated on this extension in the recent months. Following the reduction of the cross-border intraday lead time to 60 minutes on the Austrian-German border by 16 July 2015, the introduction of 15-minute contracts in Austria became possible through the adaptation of scheduling and capacity systems by the Austrian and German TSOs. Right from the start, cross-border matching with German and Swiss 15-minute contracts is an integral part of the extension, so that these contracts now span across three countries.
15-minute contracts were first introduced in December 2011 on the German Intraday market and have since then been a success story. They were extended in June 2013 to Switzerland at the moment of the launch of the Swiss Intraday market, with the possibility to match these contracts across the German-Swiss border. Since December 2014, a complementary 15-minute call auction on the German Intraday market provides a clear cut price signal. About 12 TWh have been traded in 15-minute contracts since launch, with a volume of well over 300 GWh per month in the recent months across all segments.
The European Power Exchange EPEX SPOT SE operates the short-term electricity markets for Germany, France, the United Kingdom, the Netherlands, Belgium, Austria and Switzerland. Striving for the creation of a European single market for electricity, EPEX SPOT shares its expertise with partners across the continent and beyond. EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff, based in Paris with offices in Amsterdam, Bern, Brussels, Leipzig, London and Vienna. More than 280 companies trade 500 TWh of electricity on EPEX SPOT and APX markets every year – 40% of its countries’ electricity consumption. EPEX SPOT is held by EEX Group, part of Deutsche Börse, and European electricity transmission system operators. For more information: www.epexspot.com