10 February 2014. The Power Exchanges APX, Belpex, EPEX SPOT, Nord Pool Spot and OMIE are pleased to confirm the signing of a cooperation agreement for a common European cross border intraday solution. In addition, an early start agreement was signed with Deutsche Börse AG for the delivery of a technical system.
The agreements, which are open to other European Power Exchanges willing to join, were signed following an intensive selection and negotiation process. The parties will now continue the work of developing a common European-wide Intraday solution within a robust project framework. The work will be undertaken jointly by the participating Power Exchanges, Transmission System Operators and Deutsche Börse AG, with support from the relevant national regulatory authorities, the Agency for the Cooperation of Energy Regulators and the European Commission.
All parties will bring their particular skills, experience and expertise to secure a robust, efficient and reliable Intraday solution for all European power markets and their members.
The common technical system will be based on continuous cross-border trading where intraday adjustments to trades concluded in the day-ahead market can be made. Intraday trading plays an important complementary role in creating an efficient power market, as a variety of European counterparts trade, with variations in production and consumption close to delivery hour.