New ID3-Price index on continuous German Intraday market
An indicator for short-term forecast corrections
Paris / Leipzig, 11 September 2015. The European Power Exchange EPEX SPOT has introduced a new price index on the continuous German Intraday market. The index is called ID3-Price and is based on the weighted average price of the hourly and 15-minute products of the last three hours prior to delivery. To provide an example: The ID3-Price for quarter 21qh1 (delivery from 20:00 to 20:15) is the volume-weighted average of all transactions with time stamp between hours 17 and 20.
The index provides a price signal that takes into account price evolutions in the very short-term before delivery, and hence reveals possible movements shortly before end of trading. Traders will benefit from a clear cut financial indicator for short-term forecast corrections in volatile power production environments. The European Energy Exchange (EEX) will use the ID3-Price for Cap Futures which are due to launch on 14 September 2015.
The new index can be found in the market data section of the EPEX SPOT website (see screenshot above), or by following this link . For background information on the ID3-Price index and its calculation method, please follow this link .
The European Power Exchange EPEX SPOT SE operates the short-term electricity markets for Germany, France, Austria and Switzerland. EPEX SPOT owns 100% of APX Group (including Belpex), operator of the short-term electricity markets for the Netherlands, the United Kingdom and Belgium. 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. 275 companies trade over 450 TWh of electricity on EPEX SPOT and APX every year – one third 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