EPEX SPOT Intraday in the UK

Trading Procedure    All tradable Contracts    Continuous

Trading days    All tradable Contracts    Year-round

Time zone    UK local time   

Tradable Contracts    
Half hour    Half hour 01: Delivery time between 00:00 and 00:30
Half hour 02: Delivery time between 00:30 and 01:00, and so on and so forth
Half hour 48: Delivery time between 23:30 and 00:00 
    Hour block    Hour 01: Delivery time between  23:00 and 00:00
Hour 02: Delivery time between 00:00 and 01:00, and so on and so forth
Hour 24: Delivery time between 22:00 and 23:00
    2-hour block    Block 1A: Delivery time between 23:00 and 01:00
Block 1B: Delivery time between 01:00 and 03:00, and so on and so forth
Block 6B: Delivery time between 21:00 and 23:00
    4-hour block    Block 1: Delivery time between 23:00 and 03:00
Block 2: Delivery time between 03:00 and 07:00, and so on and so forth
Block 6: Delivery time between 19:00 and 23:00

Tradable Contract Codes    

Variables   

Conventions   
Dates expressed within codes for half-hour products are calendar dates. Dates or week numbers expressed within codes for all other products follow the widely-used EFA convention (where the period from 23:00 to 23:00 constitutes a day). Dates expressed within weekend product codes represent the Saturday of the weekend in question. 

Opening of the trading session    All tradable Contracts open for trading on a (“one on, one off”) rolling product basis. Tradable Contracts open 2 days before Delivery.

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

Delivery procedure    All tradable Contracts     Nomination by ECC to the TSO and by the Balance Responsible Party to the relevant TSO.

Clock change    Numbering of half-hour products follows the convention of the Balancing and Settlement Code.  On the short clock-change day, the products are numbered from 01 to 46; on the long clock-change day, from 01 to 50.  All other products spanning the March or October clock change are respectively one hour shorter or longer than normal. 

Closure of trading   
    Half hour    15 minutes before Delivery
    Hour block    16 minutes before Delivery
    2-hour block    17 minutes before Delivery
    4-hour block    19 minutes before Delivery
       
Minimum price increment    All tradable Contracts    0.01 GBP/MWh
Minimum volume increment    All tradable Contracts    0.1 MW
Minimum and maximum  price    All tradable Contracts     -500.00 GBP / 3000.00 GBP
Quantity characteristics    Minimum/Maximum Order size 0 / 2000 MW

Single-Contract Orders  and Block Orders

Definition   
Single Contract Orders combine a price and a quantity for an Expiry, where an Expiry relates to the BSC Settlement period.
Pre-defined Block Orders
•    1 HOUR BLOCK: Delivery time above
•    2 HOUR BLOCK: Delivery time above
•    4 HOUR BLOCK: Delivery time above
•    OVERNIGHT: Delivery time between 23:00 and 07:00
•    BLOCK 3+4: Delivery time between 07:00 and 15:00
•    PEAK: Delivery time between 07:00 and 19:00
•    EXTENDED PEAK: Delivery time between 07:00 and 23:00
•    BASE: Delivery time between 23:00 and 23:00

Execution conditions