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Decoupling Session was run according to procedures of Single Day-Ahead Coupling

Amsterdam / Berlin / Bern / Brussels / London / Paris / Vienna, 26 June 2024.

On 25 June 2024, EPEX SPOT experienced a technical issue with its trading system. As it became clear that the issue could not be fixed within the timeframe foreseen by the Market Coupling procedures of the Single Day-Ahead Coupling (SDAC), EPEX SPOT officially declared partial decoupling and carried out the auction session according to the partial decoupling procedure.

  • Following the decoupled auction session, market results for Central Western Europe (CWE) and Poland were published at 15:06 CET. These auctions were run as local auctions, with no cross-border capacity available, according to the Market Coupling procedure in place in this region. In line with the decoupling procedure, Nordic Regional Coupling was performed with results published at 17:48 CET. This further delay was possible according to the Nordic Market Coupling procedures which allow for such extended operational timeframe.
  • The local CH and GB Day-Ahead auctions, which are not part of SDAC, were run with results published at 14:22 CET and 14:24 CET, respectively.
  • The Single Intraday Coupling (SIDC) Auction IDA 3 (trading day 25.6.2024 at 10:00 CET) as well as the local Swiss Intraday Auction IDA2 (trading day 25.6.2024 at 10:30 CET) were cancelled in context with this incident. SIDC Auction IDA 1 (trading date 25.6.2024 at 15:00) was cancelled for EPEX SPOT as well, as per foreseen procedure.
  • The technical issue has been fixed and markets have been running normally since Tuesday afternoon, 25 June 2024, for the local GB 30-min Day-Ahead auction at 16:30 CET as well as the coupled SIDC IDA 2 at 22:00 CET.

EPEX SPOT understands that the Market Results, especially for the CWE region, have been scrutinised by market participants. The Exchange confirms that these prices were correctly calculated based on the order book information that was submitted by market participants, in the partial decoupling situation announced as per applicable Market Coupling procedures. Prices published for delivery on 26 June 2024 therefore reflect the demand and supply as per submitted orders to EPEX SPOT, in line with the Market Rules. The Day-Ahead market volumes matched by EPEX SPOT for delivery on 26 June 2024 amounted to 1,271,002 MWh in the CWE region.

All Market Coupling sessions from 25 June 2024, 22:00 CET, have then been completed successfully under normal conditions, as well as EPEX SPOT local auctions (Day-Ahead and Intraday) in Great Britain and Switzerland.

EPEX SPOT is conducting an in-depth analysis of this event and is in close contact with relevant stakeholders, including National Regulatory Authorities.

- ENDS

 

The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in 13 countries: in Central Western Europe, the United Kingdom, Switzerland, the Nordics and in Poland. Furthermore, EPEX SPOT newly offers local flexibility markets solution and Guarantees of Origin auctions, to foster the integration of renewable energy sources and to enhance the engagement of consumers and producers in the power market.

As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 400 trading members are registered on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.