How to Operate

The IT-SI Market Coupling adopts a decentralized approach, where each PX manages its own trading system and runs its own matching software, which incorporates a common matching algorithm taking into account the overall grid model defined by the Italian and Slovenian TSO for their respective markets.

As a consequence:

  • market participants of Italian and Slovenian market will submit bids and offers to the trading system of their local PX;
  • each TSO will communicate to its local PX the information regarding the daily ATC values between Italy and Slovenia to be allocated though the IT-SI Market Coupling and PXs publish this information on their respective trading platform;
  • GME and BSP will:
    • exchange all relevant information regarding bids and offers (in anonymous way) of respective market participants;
    • exchange all relevant information regarding ATC values.
      In particular:
      • GME will communicate to BSP transmission limits between the zones of the Italian markets;
      • GME and BSP will check that the ATC values, between Italy and Slovenia, communicated by respective TSO, are the same.
      • GME and BSP simultaneously run the respective matching software in order to compute the market results;
      • GME and BSP check the consistency of the calculated market results and publish the results.

An indicative timeline of the operations will be:

  • Between 07:00 a.m. and 7:45 a.m.: for each direction TSOs calculate and confirm daily ATC values to be allocated through the IT-SI MC, i.e. implicit auctions, respectively
  • 07:45 a.m.: daily ATC are made available to PXs according to respective national arrangements between TSO and PX. PXs check whether received daily ATC values are the same and publish them on their respective trading platform[1].
  • 09:00 a.m.: gate closure of the Italian and Slovenian day-ahead market.
  • By 09:40 a.m.: PXs exchange relevant anonymous bids and offers of their market participants, structure of the zones of their internal market and transmission limits between the zones of their internal market.
  • By 09:50 a.m.: each PXs calculate market results.
  • By 10:15 a.m.: PXs check the consistency of market results.
  • By 10:25 a.m.: each PX confirms, make available to its local TSO (according to national arrangements) and publishes market results on their respective trading platform[2] .

[1], [2]  This information is also published on the web site of PXs.