Day-ahead Market

The Day-Ahead market is an electricity trading market where wholesale electricity is traded on the day before the delivery and covers all hours of the following day. The market is running in an auction mode of trading, where the orders entered by market participants are not visible to each other. Market participants can enter standardized hourly orders, and block buy or sell orders until the gate closure time (12:00 CET). The market participant has to define the price, quantity and hour for each order.

After the gate closure time, the power exchange determines the demand curve based on buy orders, and the supply curve based on sell orders for each delivery period. The point where both curves intersect represents the market clearing price that applies to all accepted buy and sell orders. Buy orders with a price equal to or greater than the market clearing price are accepted, as are sell orders with a price equal to or lower than the market clearing price. This ensures transparency and a level playing field for all market participants.

Once market results are confirmed, all accepted buy and sell orders result in biding transactions, which are cleared and settled by the clearing service providers.

The Single Day-ahead Coupling is a result of a common implicit auction system where cross-border transmission capacities represent an input parameter in the exchange of offers between power exchanges. Market results are calculated using a standardized set of rules and procedures.

Market messages