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Products Day-Ahead Auction

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Day-Ahead Auction in the Netherlands & Belgium


Trading Procedure 
   Daily Auction

Trading days    Year-round

Tradable Contracts (Expiries):
  • 1 hour of the day
  • Hour 01: the period between midnight and 1:00
  • Hour 02: the period between 1:00 and 2:00, and so on and so forth
  • Hour 24: the period between 23:00 and midnight

Opening of the Order Book     24 hours per day starting forty five days before the Delivery Day

Closure of the Order Book     Daily at 12:00

Publication time    As soon as possible from 12:42 for preliminary results
Preliminary results are published for information purposes only. Only final results are binding on Exchange Members.
Final results will be published between 12:55 and 13:50 unless in case of decoupling (technical deadline for decoupling).

Clearing and Settlement    Trade information transmitted by EPEX SPOT SE to the central counterparty, ECC AG for Settlement of the Contracts

Delivery procedure    Nomination by ECC and by the relevant Balance Responsible Parties to the TSO.

Admissible Orders    On the day of the switch from summer time to winter time, hour 03 is divided in two hours that can be traded separately. On the day of the switch from winter time to summer time, hour 03 cannot be traded. 

Minimum and maximum prices    -500.00 €/ 3000.00 €

Price characteristics    In euro per MWh with one decimal digit

Quantity characteristics    In MW with one decimal digit


Single-Contract Orders

Minimum and maximum number of price/quantity combinations for Single-Contracts Orders    2 and 256


Block Orders

Definition    Order on one or several combined Expiries with a minimum of one Expiry on the same Delivery Day. Expiries depend on each other in their execution. Pre-defined Block Orders exist but the Exchange Member is not restricted in the determination of the Block Orders.

Pre-defined Block Orders   

The following Block Orders are pre-defined in the system:
•    Block baseload covering hours 1 to 24
•    Block peak load 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 sun-peak covering hours 11 to 16
•    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

Specific conditions
    All or none
The maximum volume for a Block Order is 400 MW 
A maximum number of Block Orders per Delivery Day and per portfolio:  40 

Linked Block Orders
   
Maximum number of generations of a linked Block Order family: 7
Maximum number of Block Orders in a linked Block Order family : 7
Maximum number of children for a parent Block Order: 6
Maximum number of parents for a child Block Order: 1
Maximum number of linked Block Orders families for a (portfolio, Market Area) combination: 5

Exclusive group Block Orders
   
Maximum number of Block Orders in an exclusive group: 24
Maximum number of exclusive Block Order families for a (portfolio, Market Area) combination: 5
 
 

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