EPEX SPOT operates organized short-term electricity markets for Central Western Europe, Great Britain, the Nordics and Poland. We offer a large range of products, to trade across the entire value chain of electricity.
EPEX SPOT offers Day-Ahead trading in thirteen European countries. Day-Ahead markets are operated through a blind auction which takes place once a day, every day of the year. The traded electricity is delivered on the next day. Apart from Switzerland and Great Britain, all markets are part of the Multi-Regional Coupling (MRC) which stretches across 19 markets from Portugal to Finland and from The Netherlands to Italy. All auction markets of EPEX SPOT run on the ETS trading system, a robust and reliable trading platform.
Our Day-Ahead offer at a glance
Robust and reliable trading guaranteed on our EPEX Trading System (ETS)
Optimized EU Market Coupling with our implicit auctions - ensuring the best use of interconnection capacity and most efficient use of your assets
Highest liquidity and diversity of portfolios with over 500 TWh traded per year representing a third of the consumption of the thirteen countries covered
Widest product offering from single hours and blocks to smart and big blocks: exclusive, linked, loop & curtailable
Easy access to your order submissions & results through our API
Hourly Day-Ahead auctions
Tradable contracts: 24 hourly contracts corresponding to the 24 delivery hours of the following day – traded either in single hours or in blocks of combined hours
Closure of orderbook: daily at 12:00 (CET) (9:20 GMT for Great Britain, 11:00 CET for Switzerland) in D-1
Publication of results: from 12:57 (CET) onwards (9:30 GMT for Great Britain, 11:10 CET for Switzerland)
See our Market Results published daily.
Half-hour Day-Ahead auction in GB
Following the Day-Ahead auction, the Half-hour Day-Ahead auction in Great Britain gives members the opportunity to balance their physical portfolios and to further optimize their generation portfolio.
Tradable contracts: 30-minute contracts, with delivery on the following day
Closure of orderbook: daily at 15:30 (GMT) in D-1
Publication of results: from 15:45 (GMT) onwards
Classic block orders encompass several hours at the same price with flexible volume profiles and are executed at the same ratio on all its hours. Smart & big blocks are unique to our auctions because of their complexity and unparalleled size – allowing you to sophisticate your optimization strategy.
Big blocks: larger than classic blocks with the maximum size going up to 1300 MW and allows to cover large production capacities
Loop blocks: families of two blocks which are executed or rejected together. They allow to bundle buy and sell blocks to reflect storage activities - only offered at EPEX
Curtailable blocks: set of blocks which can be either entirely executed or entirely rejected (All-or-None); or executed above a minimum acceptance ratio defined by traders
Linked blocks: set of blocks with a linked execution constraint, meaning the execution of one block depends on the execution of its father block. They allow to represent the variation of electricity generation with regards to the market price
Exclusive blocks: group of blocks within which a maximum of one block can be executed, so your electricity is traded at the most profitable moment
Traded volume on the EPEX Day-Ahead
You can download :
The Intraday market segment at EPEX SPOT offers both continuous and auction trading in twelve European countries. All continuous Intraday markets of EPEX SPOT run on the M7 trading system, the highest industry-standard in terms of performance. These markets are by far the most liquid in Europe.
Our Intraday offer at a glance:
Most liquid orderbook in Europe from opening to delivery time, running 24/7 to support the most advanced trading strategies
Highest performing Intraday continuous trading system (M7) with more than 1,000,000 orders submitted every day
Multiple contract types offering finer granularity and increased flexibility
Versatile, performant and standardized API services for order submission and results retrieval
Wide range of Intraday auctions allowing you to further optimise your Intraday portfolio while benefitting from a robust reference price
All continuous Intraday markets run on the M7 trading system. Our M7 trading system provides our members with the most robust and reliable platform supporting the most advanced trading strategies.
Tradable contracts: hourly contracts, half-hourly contracts and 15-minute contracts
Trading opening: 00:00 (GMT) D-1 in GB / 14:00 (CET) D-1 in the Nordics / 15:00 (CET) D-1 in CWE
Closure of orderbook: up until 0 minutes before delivery start of the contract
Trade execution: as soon as two entered orders match on our platform, the trade is executed
SIDC – The pan-European Single Intraday Coupling
EPEX SPOT is part of SIDC, an initiative enabling cross-border trading in one integrated European Intraday market. This solution links the local trading systems operated by Power Exchanges with the available cross-zonal transmission capacity provided by Transmission System Operators. You can find more information on SIDC here.
We offer a full suite of Intraday auctions in CWE & GB, completing your trading value chain at EPEX SPOT. With the increasing number of renewable assets, these products are key in reinforcing the Intraday reference price, optimising the short-term market and facilitating the energy transition.
The first Intraday auction was introduced in Germany in 2014. Since its launch and others in Great Britain and Switzerland, we have seen a significant growth in liquidity on this market segment – reaching a total traded volume of nearly 7 TWh in 2019. These auctions play a key role in providing further contracts granularity and balancing opportunities. In 2020, we expanded our Intraday auctions to Austria, Belgium, France and The Netherlands, further completing our offering in Europe.
Local Intraday auctions in Austria, Belgium, France, Germany and The Netherlands
- Austria 15 min – daily at 15:00 (CET)
- Belgium 15 min – daily at 15:00 (CET)
- France 30 min – daily at 17:00 (CET)
- Germany 15 min – daily at 15:00 (CET)
- The Netherlands 15 min – daily at 15:00 (CET)
Intraday auctions in Great Britain coupled with Ireland
- Great Britain 30 min – daily at 17:30 (GMT)
- Great Britain 30 min – daily at 8:00 (GMT)
Intraday auctions in Switzerland coupled with Italy and Slovenia
- Switzerland 60 min – daily at 16:30 (CET)
- Switzerland 60 min – daily at 11:15 (CET)
Please find the detailed product specifications available in the Downloads section on the website in your Member Area.
Traded volume on the EPEX Intraday
The After-Market provides additional flexibility to market participants by allowing trading after delivery. Contracts are available for trading as of the physical delivery of the contracts until the next trading day through the unique EPEX SPOT M7 continuous trading system. It enables the adjustment of your physical positions in the ex-post timeframe, thus reducing costs related to imbalance settlement. In the Netherlands, After-Market allows market participant to further optimize in case of dual-pricing for imbalance settlement.
Trading start: Delivery start of the Intraday continuous contract
Trading end: 12:30 day after delivery (D+1)
Trading start: Delivery start of the Intraday continuous contract
Trading end: 8:30 day after delivery (D+1)
French Capacity Market
An organized market for French capacity guarantees.
The French law foresees a capacity obligation scheme. It specifies that electricity producers and demand-response operators receive capacity certificates by the French Transmission System Operator RTE. Suppliers have to contribute to security of supply by holding sufficient capacity certificates to cover the peak consumption of their costumers for each underlying year.
On the capacity market operated by EPEX SPOT, the demand for capacity guarantees meets the offer, determining a price for capacity which reflects security of supply needs to cover peak consumption in France.
The results of the past auctions are listed here.
The current Auction Calendar is available here.
If you wish to trade on the French capacity market, please get in touch with your Key Account manager or send an e-mail to firstname.lastname@example.org. You can find more information on the capacity market in our dedicated brochure and in the download section.
Detailed product specifications are available in the member section.
Future-to-Spot Service (formerly Physical Fulfilment)
The Future-to-Spot Service (FTS Service) is a service provided by EEX and EPEX SPOT where you can fulfil your Futures positions on the Day-Ahead auction to complement your volumes traded directly through the EPEX SPOT Trading System (ETS).
How does the FTS Service work?
Trading participants active on both EEX and EPEX SPOT markets are able to enter bids in the corresponding Day-Ahead auction according to the participants' respective position in an EEX power futures contract. The creation and forwarding of the required bidding sheets can be done automatically by EEX or manually via the Trading Participant. Download our User Guide to learn more about the process.
The FTS Service is offered in 7 countries across Europe: Austria, Belgium, France, Germany, Great Britain, The Netherlands, Switzerland – with Poland coming soon!
Local Flex trading
An innovation powered by EPEX SPOT
To foster the integration of renewable energy sources and to enhance the engagement of consumers and producers in the power market, EPEX SPOT develops local flexibility markets. A neutral and transparent market platform pools local flexibility offers. Market participants gain new opportunities to value their flexible assets, system operators obtain new tools to manage congestions and to optimize grid planning.
Organisation of EPEX Local Flex
Do you want to learn more about our Local Flex markets? Just send an email to email@example.com.