Integrated Swiss Intraday Market launches 26 June 2013
The Swiss Intraday market will be launched on 26 June 2013. It will be integrated from the start with France and Germany via a harmonized mechanism for Intraday implicit cross-border capacity allocation on the Franco-Swiss and German-Swiss borders. This is made possible by a cooperation of the Transmission System Operators (TSO) Amprion and TransnetBW in Germany, RTE in France and Swissgrid in Switzerland, the European Power Exchange EPEX SPOT SE and the clearing house European Commodity Clearing AG (ECC). As of the morning of 26 June 2013, the members of EPEX SPOT will have the opportunity to access an integrated Franco-German / Austrian-Swiss Intraday market.
The updated Intraday allocation rules for the respective borders have been accepted by all relevant National Regulatory Authorities and now are available on the relevant TSO websites.
French / German IFD rules
French / Swiss IFS rules
German / Swiss rules
As approved by the EPEX SPOT Exchange Council in December 2012, the Swiss Intraday market will be connected via an open interface provided by the TSOs to the capacity platform that is currently used for cross-border Intraday capacity allocation. The Swiss market will henceforth be connected to the German/Austrian and French Intraday markets of EPEX SPOT. Physical and financial settlement of the new power contracts for the Swiss Intraday market will be provided by ECC.
Market participants of all four countries will therefore benefit from pooled liquidity and enhanced harmonization of trading and operational rules. The implicit capacity allocation system will be running in parallel to the explicit capacity allocation (allowing for OTC trading) already in place, ensuring a non-discriminatory access to the cross-border capacity according to the applicable allocation rules for each border (Franco-German, Franco-Swiss and German-Swiss).
Using existing infrastructure with minimal adaptations for current market rules, the extension of the open, flexible and efficient mechanism of Intraday capacity allocation fulfilling the needs of market participants is an efficient step towards the harmonization of Intraday trading in Europe. Consequently, this flexible mechanism will facilitate a smooth migration towards the European Intraday Target Model set by ACER in its Framework Guidelines.
Additionally, TSOs have updated the capacity platform to offer the Intraday cross-border capacity (both for the explicit and implicit access) at the Franco-German border and the Franco-Swiss Border in units of 0.01 MW, instead of 1 MW as today. This will offer additional flexibility to market participants on these borders. On the German-Swiss Border units of 0.001 MW remain as it is applied today. These changes will come into effect in the system during the morning hours of 25 June 2013 and will be additionally communicated by TSOs via web page of the capacity allocation platform.
At the same time, EPEX SPOT will change the smallest tradable unit on the French Intraday Market segment from full MWh to 0.1 MWh in anticipation of the necessary volume tick harmonization within the European Intraday Target Model implementation. Further details will be additionally provided by EPEX SPOT via dedicated communication.