Pricing the intraday capacity - via Intraday Auctions (IDAs) - is part of the Single Intraday Coupling (SIDC) and it completes the SIDC market which was before solely based on the continuous trading method. IDAs were implemented across Europe on 13 June 2024, to allow for the pricing of cross-border capacity in the intraday timeframe.
The purpose of introducing the intraday auctions is to harmonize the calculation and allocation of cross-border capacities on the intraday market and to price intraday cross-border capacities to reflect their shortage at a given time and thereby send an adequate price signal to the market.
Intraday auctions provide the ability to accumulate offers and efficiently allocate the scarce transmission capacity. This is a novelty in the intraday timeframe, since capacity in the continuous intraday trading is allocated on a first-come first served basis. IDAs are the first intraday auctions involving most of the European countries.
IDAs were introduced in Austria, Belgium, Bulgaria, Czechia, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxemburg, The Netherlands, Norway, Poland, Portugal, Romania (the borders are not yet included), Slovakia, Slovenia, Spain, and Sweden.
IDAs are organized as implicit auctions where collected orders are matched, and cross-zonal capacity is allocated simultaneously for different bidding zone borders. IDAs take into account all valid orders submitted for the respective auctions and determine clearing prices for the relevant bidding zones based on matched orders.
Cross-zonal capacities cannot be allocated simultaneously for IDAs and for continuous trading along the same borders. Therefore cross-zonal capacity allocation within the continuous SIDC is suspended for a limited period during which the cross-zonal capacities are allocated via IDAs. Continuous intrazonal trading can only continue during the IDAs in those bidding zone where more than one NEMO is active.
IDA1: Gate Closure Time for market parties at D-1 15h. Allocated period D
0h-24h
IDA2: Gate Closure Time for market parties at D-1 22h. Allocated period D
0h-24h
IDA3: Gate Closure Time for market parties at D 10h. Allocated period D
12h-24h
EUPHEMIA, i.e. the algorithm developed for SDAC, is used for the purpose of IDAs. The public description of EUPHEMIA (applicable to IDA and to SDAC) is available in the following link: https://www.nemo-committee.eu/assets/files/euphemia-public-description.pdf
IDAs solution supports hourly, half-hourly and quarter-hourly products.
However, for the time being simple orders of only one time resolution are allowed in each BZ.
The products supported by the SIDC IDAs and SDAC algorithms are equivalent; it is the responsibility of each NEMO to decide whether or not to propose optional products. Additional order types supported include simple block orders, complex block orders, and merit orders.
25 June: European Energy Market Milestone: Intraday Auctions (IDAs) Successfully Implemented
14 June: Intraday Auctions (IDAs) were implemented across Europe on 13 June 2024
29 May: Confirmation of the go-live date for Intraday Auctions (IDAs)
25 April: IDA Pre-launch event video
18 April: IDA Pre-launch event MoM
22 March: IDA Pre-launch event presentation
22 March: SIDC held a pre-launch event about the new Intraday auction
23 February: Information Package about Intraday Auction
19 February: IDA go-live Pre-launch event - agenda, registration and information package
31 January: IDA go-live on Single Intraday Coupling (SIDC) Pre-launch Event Invitation letter
