15-minute Market Time Unit (MTU) will be introduced on all borders and in all Bidding Zones in Europe for Single Day-Ahead Coupling (SDAC) in 2025. For the Single Intraday Coupling (SIDC), 15-minute MTU is already a reality in some Bidding Zones and at some borders, and will be gradually extended to all bidding zones and borders in 2025.
Regulatory framework
In accordance with the legal framework developed by the European Commission, all TSOs in all EU Member States are required to employ a 15-minute time resolution for imbalance settlement, resulting in an obligation for all NEMOs to offer 15-minute products for trading on all SIDC and SDAC coupled markets. This harmonization aims at creating consistency across European energy markets (as some TSOs already apply a 15-minute imbalance settlement period) and enhance efficiency in electricity balancing processes.
A 15-minute time resolution is expected to facilitate better integration of renewables, as their production varies within an hour, and to improve grid stability. It also facilitates better forecasting of consumption behaviors.
All information stemming from the Market Coupling Steering Committee (MCSC) in relation to the go-live of 15-minute contracts in SDAC and SIDC is published on the website of the All NEMO Committee here .
The following methodologies and documents related to 15' MTU were published by NEMOs:
| SDAC Product Methodology | https://www.nemo-committee.eu/publication-detail/day-ahead-product-methodology |
| Algorithm Methodology | https://www.nemo-committee.eu/publication-detail/algorithm-methodology |
| SDAC and SIDC IDAs algorithm description | https://www.nemo-committee.eu/assets/files/euphemia-public-description.pdf |
Introduction of 15-minute MTU contracts for Intraday - SIDC
EPEX SPOT, as a NEMO part of Single Intraday Coupling (SIDC), will introduce 15-minute contracts in France, Norway and Poland in the Intraday markets.
The evolutions are the following:
- Intraday Continuous: 15-minute MTU will be introduced in France as of 23rd January 2025 (first delivery date 23/01) and in Norway as of 19th March 2025 (first delivery date 19/03). No Cross-Product Matching service is proposed by the central matching platform (XBID) which means that no matching between orders from different time units is possible. 60-minute, 30-minute and 15-mi-nute contracts will be offered on each SIDC market. As of 19th March 2025, cross-border trading at 15-minute granularity will be made possible over Polish and Nordic borders.
- Intraday Auction: 15-minute MTU will be introduced in France as of 22nd January 2025 (first delivery date 23/01) and in Norway and Poland as of 18th March 2025 (first delivery date 19/03). Only 15-minute contracts will be available for trading on all EU operating NEMOs, including EPEX SPOT.
Go-lives are subject to successful testing and member readiness.
Introduction of 15-minute MTU contracts for Day-Ahead - SDAC
EPEX SPOT will, as well, introduce 15-minute MTU on all SDAC Day-Ahead markets after March 2025, subject to successful testing and member readiness.
The day-ahead coupled auction at 12:00 CET, for delivery on the next day, will switch from 60-minute MTU to 15-minute MTU in all SDAC bidding zones and for all bidding zone borders at the same time, excluding Ireland that will remain in 30-minute.
To maximize trading opportunities, Cross Product Matching will be offered by EPEX SPOT. This service will allow our Market participants to bid in 60-minute, 30-minute or 15-minute regardless of the minimum time unit of the market, ensuring that orders from different time resolutions can be matched together.
Switzerland
The envisaged approach of 15 MTU introduction in the Swiss Day-Ahead auction market- is sequential, i.e. after the introduction of 15 MTU introduction in the SDAC region.
While there is not yet a confirmed planning or go-live date, the 15 MTU implementation in the Swiss Day-Ahead is not anticipated before end 2025 at the earliest, and will be organised in alignment with Swissgrid.
Price index
The market clearing price will switch to a 15-minute resolution, available in the trading system and in the market data files, provided with a two-decimal precision.
A 60-minute price index will be published by EPEX SPOT as a strict arithmetic average of the corresponding 15-minute clearing prices.