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
| Product Type | Product Code prefix (fixed) | Product Code suffix (variable) | Example |
| HALF HOUR | HH | YYMMDD-NN | HH060322-35 |
| 1 HOUR BLOCK | 1H | YYMMDD-NN | 1H120622-23 |
| 2 HOUR BLOCK | 2H | YYMMDD -NL | 2H060322-5B |
| 4 HOUR BLOCK | 4H | YYMMDD -N | 4H060322-6 |
| OVERNIGHT | 1+2- | DDD-DDMMMYY | 1+2-THU-23MAR06 |
| BLOCK 3+4 | 3+4- | DDD-DDMMMYY | 3+4-THU-23MAR06 |
| PEAK | PK- | DDD-DDMMMYY | PK-THU-23MAR06 |
| OFFPEAK | OFFPK- | DDD-DDMMMYY | OFFPK-THU-23MAR06 |
| EXTENDED PEAK | EXTPK- | DDD-DDMMMYY | EXTPK-THU-23MAR06 |
| BASE | BL- | DDD-DDMMMYY | BL-THU-23MAR06 |
| WEEKEND 5 | WE-BK5- | DDMMMYY | WE-BK5-25MAR06 |
| WEEKEND 6 | WE-BK6- | DDMMMYY | WE-BK6-25MAR06 |
| WEEKEND OVERNIGHT | WE-1+2- | DDMMMYY | WE-1+2-25MAR06 |
| WEEKEND 3+4 | WE-3+4- | DDMMMYY | WE-3+4-25MAR06 |
| WEEKEND PEAK | WE-PK- | DDMMMYY | WE-PK-25MAR06 |
| WEEKEND EXTENDED PEAK | WE-EXTPK- | DDMMMYY | WE-EXTPK-25MAR06 |
| WEEKEND BASE | WE-BL- | DDMMMYY | WE-BL-25MAR06
|
Variables
| Suffix Variable | Definition | Range |
| DD | DAY OF MONTH (TWO DIGITS) | 01 TO 31 |
| DDD | DAY OF WEEK (THREE LETTERS) | MON TO SUN |
| MM | MONTH OF YEAR (TWO DIGITS) | 01 TO 12 |
| MMM | MONTH OF YEAR (THREE LETTERS) | JAN TO DEC |
| N | 4 HOUR BLOCK PERIOD (ONE DIGIT) | 1 TO 6 |
| NL | 2 HOUR BLOCK PERIOD (ONE DIGIT, ONE LETTER) | 1A TO 6B |
| NN | 1 HOUR BLOCK PERIOD (TWO DIGITS) | 01 TO 24 |
| NN | HALF HOUR PERIOD (TWO DIGITS) | 01 TO 50 |
| WW | WEEK OF YEAR (TWO DIGITS) | 01 TO 53 |
| YY | YEAR (TWO DIGITS) | 00 TO 99 |
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 75 minutes before Delivery
Hour block 76 minutes before Delivery
2-hour block 77 minutes before Delivery
4-hour block 79 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
• OFFPEAK: Delivery time between 23:00 and 07:00 and between 19:00 and 23:00
• EXTENDED PEAK: Delivery time between 07:00 and 23:00
• BASE: Delivery time between 23:00 and 23:00
• WEEKEND 5: Delivery time between Saturday 15:00 and 19:00 and Sunday 15:00 and 19:00
• WEEKEND 6: Delivery time between Saturday 19:00 and 23:00 and Sunday 19:00 and 23:00
• WEEKEND OVERNIGHT: Delivery between Friday 23:00 and Saturday 07:00 and Saturday 23:00 and Sunday 07:00
• WEEKEND 3+4: Delivery between Saturday 07:00 and 15:00 and Sunday 07:00 and 15:00
• WEEKEND PEAK: Delivery between Saturday 07:00 and 19:00 and Sunday 07:00 and 19:00
• WEEKEND EXTENDED PEAK: Delivery between Saturday 07:00 and 23:00 and Sunday 07:00 and 23:00
• WEEKEND BASE: Delivery between Friday 23:00 Sunday 23:00
Execution conditions
| Explanation | Immediate match obligatory? | Partial match allowed? | |
| [NULL] | MINIMUM LOT SIZE | N | Y |
| AON | ALL OR NOTHING | N | N |
| FAK | FILL AND KILL | Y | Y |
| FOK | FILL OR KILL | Y | N |